The purpose of the Foundation is to further the legacy of Jules Olitski, to encourage knowledge and appreciation of the body of art he created and his contribution to the art world, to hold and administer works of art created by Jules Olitski, his contemporaries or those influenced by his work as deemed appropriate by the board of directors, to be contributed by any person or institution.  Further it is the purpose of the Foundation to undertake a catalogue raisonné of the work of Jules Olitski, distribute his artwork as appropriate to museums and institutions through gifts and sales, provide access to his artwork and papers to scholars, and to make grants to artists and arts education entities with any profits gained.