Albert F. Siebert was born October 18, 1879, in Dayton, Ohio, the son of a Lutheran pastor. After graduation from Wittenberg College, Mr. Siebert pursued a sales career with National Cash Register Company of Dayton. After nineteen years, he left NCR to accept a position as a sales manager of A. H. Petersen Manufacturing Company in Milwaukee, Wisconsin, to sell their newly engineered lightweight electrical hand drill. After a disastrous fire, the company was forced into bankruptcy and Mr. Siebert bought the remaining assets. Starting in 1924, he called it Milwaukee Electric Tool Company. The new company expanded its line of tools and thrived, but ran into financial problems during the depression of the 1930s. Always a religious man, Mr. Siebert vowed that if his company survived, he would designate a large part of it to the work of the Lord.
The company not only survived, but prospered far beyond Mr. Siebert's expectations. In 1952, he elected to give his entire interest in his company to God, using Siebert Lutheran Foundation to accomplish this gift. He died in 1960, but lived to see the beginning of the impact the Foundation has had on the Lutheran community.
In 1976, the Foundation sold its interest in Milwaukee Electric Tool Company to Amstar Corporation. Now operating as an independent foundation under a trust agreement, the Siebert Lutheran Foundation, Inc., is incorporated under the laws of the State of Wisconsin and is governed by a board of 12 directors.