The Kappa Epsilon Foundation was incorporated in Indiana on May 21, 1992. It received its final public charity status from the Internal Revenue Service (IRS) as a 501(c)(3) organization in 1997, following an IRS review of three years of Foundation records.

The purpose of the Foundation is to establish, foster, and promote scholarships, educational programs, and research projects in the field of pharmacy. The Foundation provides funding for the Zada M. Cooper Scholarships and the Linda Rodgers Memorial Award. In addition, Educational Grants may be requested through the Foundation to provide individual Kappa Epsilon members or chapters incentive money for innovative projects in the profession of pharmacy.

During the national conventions, the Foundation provides a luncheon during which alumni and chapters are recognized for their contributions to the Foundation. The various levels of giving are as follows:

• Order of the Rose - Contributions up to $100
• Order of the Scroll - Contributions of $101-$999
• Order of the Pearl - Contributions of $1000-$5000
• Order of the Diamond - Contributions exceeding $5000