In 1967 three gentleman, Donald T. Mefford (who has remained on the board of directors since the inception), James W. Hamilton, and Donald E. Kelly, started the DeKalb Central Alumni (Foundation) with the intention that donations could and should be made to DeKalb Central Schools to promote programs that enhance the education of students in the school system. This association as a 501c3 nonprofit organization has performed its duties without fanfare since 1966 by distributing at least $150,000 in any given year to many different and diverse programs within the school system. In addition, the Foundation has awarded many scholarships to students of DeKalb High School to assist with college education.
In 2015, the Foundation's executive board decided to expand the activities of the DeKalb Central Alumni Foundation and decided as well to rename the Foundation. The new name of the Foundation is DeKalb Central Foundation.