In 1972 when the School reached the age of 50 years, the then Mount Albert Grammar School Old Boys Association formed the Mount Albert Grammar School Golden Jubilee Trust, with objectives that included the advancement of the School, its teachers, students and old boys, as well as to provide for the School buildings, amenities, materials and equipment.
In 2009, the name of the Trust was changed to the Mount Albert Grammar School Foundation.
The MAGS Foundation Statement of Purpose is as follows:
1) Invest in educational excellence
2) Provide resources for MAGS to become New Zealand’s top secondary school
3) Establish the most successful endowment fund of any New Zealand school
4) Provide the financial resources to develop and support the School’s vision, values and tradition
The overall Governance of the MAGS Foundation rests with its Trustees: Peter Thorp, John Liddell and Grant Watson; the School Board of Trustees has appointed Board Chairman Greg Moyle, and ex-officio are MAGS Headmaster Patrick Drumm and Albertians Association President Lisa Oakden.