The  St. Francis New Generation Fund, Inc. was established in 1988 with funds remaining from the Celebrate St. Francis Anniversary event of $25,130.  The purpose set forth was to provide funds for the improvement and development of the City of St. Francis and surrounding area.” In 2007, the St. Francis New Generation Fund endowment fund was established with Greater Kansas City Community Foundation and all funds were transferred into this new endowment fund. The St. Francis Community Foundation was established to manage the endowment fund. Robert Grace served as the first board present and other initial board members included: Dara Carmichael, Michael Day, Susan Hobrock, Tom Keller, Carla Lampe, Erica Lehman, and Carl Werner.

After 2007, several additional funds were established:

• Cheyenne County Senior Living Fund was established following the fire and evacuation of the Good Samaritan Society skilled nursing care facility.
• St. Francis Community Foundation Unrestricted Fund was created to provide funds to be used at the board’s discretion in supporting community projects.
• St. Francis Educational Foundation Fund was established with an initial generous donation by USD 297 life-long educator and leader Carl Werner. The fund allows for the net income from the Fund to be distributed to St. Francis USD 297 upon recommendation from the School Superintendent and Board of Education.