On December 8, 1960, Dr. Antanas Razma published an article in the Chicago Lithuanian newspaper “Draugas” titled: “A Million Dollar Foundation for Lithuanian Affairs and Its Organizing Principles”, in which he called on Lithuanians to establish a foundation whose main capital would be preserved, but its earned interest would be distributed to support Lithuanian publications, culture, education, arts, youth, and activities of the Lithuanian society abroad, and which would be overseen and regulated only by its donor members. The young doctor’s realistic and pragmatic concept, coupled with his enthusiasm, fostered serious discussions attracting popular support.

The first formal “Million Dollar Foundation” organizing conference took place in Chicago on January 8, 1961. On March 19, 1961, active members of Chicago’s Lithuanian society met with the Lithuanian American Community President Stasys Barzdukas and Vice-president Algirdas Nasvytis, who for many years had advocated an “Iron Foundation” instead. Ultimately, a majority of the March 19 conference participants supported the establishment of a single foundation.

Shortly after the eleventh “Million Dollar Foundation” conference in Chicago, two distinct foundation options were presented at the subsequent September 2-3 New York Lithuanian American Community National III Council Session I. Algirdas Nasvytis presented his long promoted “Iron Foundation”, which would be completely owned and regulated by the Lithuanian American Community. The “Million Dollar Foundation”, advocated by Dr. Antanas Razma, proposed an independent foundation supporting the broad spectrum of Lithuanian activities abroad, and which would be owned and regulated only by its donor members working alongside the Lithuanian American Community. After a number of lengthy deliberations, the Lithuanian American Community National Council members unanimously (with 32 votes) approved only Dr. A. Razma’s petition to establish a “Lithuanian Foundation” which would be owned and regulated by its donor members.

The required Lithuanian Foundation Articles of Organization were compiled and readied for filing with the State of Illinois within six months thereafter. Upon completion of formalities, the following temporary twelve member Lithuanian Foundation Board of Directors was elected on February 10, 1962: Dr. Antanas Razma, Dr. Gediminas Balukas, Benediktas Babrauskas, Stasys Barzdukas, Teodoras Blinstrubas, Zigmas Dailidka, Antanas Kareiva, Dr. Ferdinandas Kaunas, Dr. Balys Poškus, Alicija Rūgytė, Vincas Šmulkštys and Jonas Švedas. This Board then proceeded to elect Dr.Antanas Razma as Chairman and Teodoras Blinstrubas as President. During the first meeting of this Board of Directors at the Jesuit Youth Center in Chicago on March 7, 1962, five Officers were elected: President Teodoras Blinstrubas, Vice-president Antanas Rūkštelė, Secretary Jonas Vaičekonis, Treasurer Dr. Vladas Šimaitis and Publications Chair Stasys Rauckinas. By then the initial 28 members had already donated $19,714.

On March 14, 1962, the Lithuanian Foundation was officially incorporated as the “Lithuanian Foundation, Inc.” in the State of Illinois as an independent donor member owned and regulated, non-for-profit financial corporation, whose main goal was to support Lithuanian cultural activity consistent with the “US Internal Revenue Service Code Section 501(c) (3) regulations. Soon thereafter, LF attained a “Tax Exempt Status”, meaning the foundation need not pay any government taxes, and that member donations would be tax exempt as well.

From the outset, all LF directors, Board members, committee members, their chairmen and agents have provided their services strictly on a voluntary basis and without monetary compensation.

During the initial year of the foundation (1962), the Lithuanian Foundation distributed $1,200 in grants supporting various Lithuanian cultural activities. In 1982, the first million dollars was distributed. Since the Foundation’s inception through 2011, more than 15 million dollars have been distributed in grants, and in 1991, on the occasion of reestablishing its independence, a grant of $1,354,462 was given to the Lithuanian Republic towards the support of education and culture.

Jonas Kavaliūas, one of the most active people in the furthering of Lithuanian education within the US at a Grants Committee meeting in 1971.

From its inception in 1962 until 2022, the Foundation has distributed grants totaling $25,002,279 in support of Lithuanian activities worldwide.

The principal focus of the Lithuanian Foundation has always been the continuing support of Lithuanian cultural activities, publications, the arts, education, festivals, social programs, youth conventions and camps, radio programs and student scholarships. With the support of the Foundation, Lithuanian schools are functioning, books and textbooks are printed, International Lithuanian Councils are formed, conferences are organized, traditional dance and song festivals drawing participants from around the globe are being sponsored. Since 1990, it has supported projects in Lithuania itself as well as around the world.

• Dr. Antanas Razma (1962–1965, 1979–1981, 2001–2004)
• Dr. Gediminas Balukas (1966–1971, 1977–1978)
• Dr. Kazys Ambrozaitis (1972–1973)
• Dr. Jonas Valaitis (1974–1976)
• Stasys Baras (1982–1984, 1988–1990)
• Povilas Kilius (1985–1987, 1991–1993)
• Marija Remienė (1994–1995)
• Vytautas Kamantas (1996–1997, 2005–2006)
• Algirdas Ostis (1998–2000)
• Arvydas Tamulis (2007 – until May 2009)
• Rimantas Griškelis (from May 2009 – 2012)
• Marius Kasniūnas (from May  2012 – 2015)
• Saulius Čyvas (from May 2015 – 2018)
• Audronė Pavilčius Karalius (from April 2018 – 2021)
• Tauras Bublys (May 2021 – 2024)
• Juozas Kapačinskas (since May 2024)

• Teodoras Blinstrubas (1962–1965)
• Dr. Antanas Razma (1966–1970, 1974–1978, 1984–1986)
• Dr. Kazys Ambrozaitis (1971)
• Dr. Jonas Valaitis (1972–1973)
• Dr. Gediminas Balukas (1979–1982)
• Viktoras Naudžius (1983)
• Marija Remienė (1987–1989)
• Algirdas Ostis (1990–1992)
• Stasys Baras (1993–1995, 2002)
• Povilas Kilius (1996–1998, 2000–2002, 2003–2004)
• Rūta Staniulienė (1999)
• Arvydas Tamulis (2004–2005)
• Sigita Balzekienė (2005–2006)
• Ramūnas Astrauskas (2007– until May 2009)
• Marius Kasniūnas (from May 2009 – 2012)
• Arvydas Tamulis (from May 2012 – 2015)
• Marius Kasniūnas (from  May 2015 – 2018)
• Tauras Bublys (from April 2018 – 2021)
• Milda Davis (from May 2021 – 2022)
• Audronė Pavilčius Karalius (since April 2022)

In January of 2005, the LF Board of Directors recognizing the Foundation’s founder and long serving Board chairman Dr. Antanas Razma’s achievements in successfully organizing, promoting, and leading the Lithuanian Foundation, unanimously elected Dr. A. Razma as the Lithuanian Foundation Board’s Honorary Chairman for life with the privilege of participating in any and all future Board and Committee meetings as he chooses. Dr. Antanas Razma passed away on March 26, 2017, in Chicago.

Successful fund raising campaigns have always accounted for a substantial portion of the capital generated. These have been organized by the LF board, its volunteers, campaign committees and LF representatives in various the US Lithuanian community districts as well as abroad.

The successful LF campaign and a good portion of the capital generation was organized by the LF board, it’s helpers, campaign committees and LF solicitors in various USA cities, USA Lithuanian community districts, and some nations abroad. This work is being continued by 13 LF solicitors in different districts. LF is delighted by the generous sponsor everlasting support to maintain the Lithuanian culture abroad: it’s the LF member donations, inheritances, their loved ones legacies, special funds, special event fund-raisers, and other donations that in 50 years not only reached its one million dollar goal but grew to 19.5 million. LF wants to thank all of their members and sponsors for their long term support! In the next 50 years, LF is further encouraging generations to carry on the LF flame, kindling the Lithuanian spirits of their children, grandchildren, and great-grandchildren.

In January of 2005, the LF Board of Directors recognizing the Foundation’s founder and long serving Board chairman Dr. Antanas Razma’s achievements in successfully organizing, promoting, and leading the Lithuanian Foundation, unanimously elected Dr. A. Razma as the Lithuanian Foundation Board’s Honorary Chairman for life with the privilege of participating in any and all future Board and Committee meetings as he chooses.

LF representatives from across the country were instrumental in the growth of the Foundation as a result of their organizing events and fund raising campaigns. They began with various activities in 1980, which expanded and grew in the 1990’s. Some of these representatives had already been actively involved with the Foundation since 1965.

LF distributes a variety of publications. Among the larger publications are the Foundation’s own commemorative histories. The first was published in 1983, the second in 1992, and the current one in 2012 celebrating the Foundation’s 50^th anniversary. Additional publications include calendars, greeting cards, information pamphlets, children’s coloring books, etc. Since 2005 LF has bi-annually published an informational periodical “Liepsna” (The Flame) for distribution to its membership.