The Albany Public Schools Foundation was formed and incorporated in 1984 by a group of concerned citizens to help meet the educational needs of youth in the Albany Public School District. The original Board of Directors raised funds and determined how those funds were distributed.  Paul Heins was the first President of the Foundation. In addition to Heins, charter officers included Ester Ferguson as Vice President, Dick Running as Treasurer, and Fred Decker as Secretary.

To promote the best interests of public education in the Albany area, the Foundation secures private contributions to aid public school programs. The Foundation is committed to providing an avenue to develop and expand charitable giving in support of Albany public schools.

With an initial donation of $500 from the Future Savings and Loan Association, the Foundation was financially established. Since 1984, the Foundation has grown, in large part, due to the generous support of local community leaders. From that initial donation, the Foundation's assets have grown to a total of $1,582,722 for the year ending June 30, 2016.

Currently, the Albany Public Schools Foundation is made up of 25 members. These dedicated individuals include active and retired teachers, school district staff, active and community business people.