Evelyn F. McKnight, a nurse, established the Evelyn F. McKnight Brain Research Foundation® on May 26, 1999. Mrs. McKnight and her late husband, William M. McKnight were interested in the effects of aging on memory and this interest inspired Mrs. McKnight to establish the Foundation as a legacy of support for research of the brain to alleviate the specific influence of age related memory loss.

The McKnight Brain Research Foundation, a tax-exempt foundation, was established to exist in perpetuity as long as its purpose was thought to be maintained.