ALBA was established as a not-for-profit educational association of organizations of Greek corporations/employers and individual corporations. Today, more than 90 companies are corporate members. It operated outside the Greek formal (state) educational system as a Laboratory of Liberal Studies (Εργαστήριο Ελευθέρων Σπουδών). In 2009 ALBA is established as ALBA College of Business Administration according to the new Law 3696/2008. Its operations are funded by tuitions and fees, contributions by employers' organizations and by corporate and individual donations.