The Foundation was established as a community foundation in October 1957 by the following sixteen Wells County citizens: Fred Arend, Truman Caylor, William L. Cline, John Edris, Sr., Amos Gerber, James O. Gordon, Wayne Kehoe, Lloyd Lieurance, Max Markley, Fred Moser, Paul Neuhauser, Ernest Shoemaker, James Stogdill, Roger Swaim, William Thoma, and Vance Wilson.
Since its inception, dedicated volunteer boards of private citizens, representative of the public interest and geographically of Wells County, have governed the Foundation. Elected by the Board, a director serves a four-year term and may serve no more than two consecutive terms.
The Foundation’s standing committees were restructured in 1992 and volunteer community advisors were added to each of the four stewardship committees. While the advisors do not vote as directors, their expertise and guidance on the committees in making recommendations to the Board of Directors have proven invaluable to the vision and growth of the Foundation.