The Stockmen's Memorial Foundation was officially organized in 1980 by fifty founding members comprising of ranchers, farmers and individuals who wanted to commemorate the Canadian livestock industry.The organization was incorporated as a non-profit association and was established as a foundation by an act of the Alberta legislature. It is also approved as a charitable organization by Revenue Canada.
The mission of the Carmangay Library is to provide the variety of materials, services, and programs necessary to meet the needs of all segments of the community for information, education, recreation, and culture.