The Disabled Veterans' LIFE Memorial Foundation, Inc. was formed to raise the funds necessary to design and construct the Memorial. It was established in 1998 through the combined efforts of philanthropist Lois B. Pope, Foundation chairman; Mr. Arthur H. Wilson, National Adjutant of the Disabled American Veterans and Foundation President; and the late Jesse Brown, former Secretary of Veteran Affairs and the Foundation's first executive director. Current members also include Gene A. Murphy and Kenneth G. Musselmann.

The Foundation is a 501(c)(3) nonprofit organization whose sole purpose is to raise the funds necessary to build the Memorial.

The Foundation subscribes to the Donor Bill of Rights, and is a registered charitable organization in all states and jurisdictions that require it.

The U.S. Congress approved this national memorial to be built in Washington D.C., with the passage of Public Law 106-348. Sponsors of the Act included Senators John McCain (AZ) and Max Cleland (GA), and Representatives Sam Johnson (TX) and John Murtha (PA).