The library is named after the Funk family and its patriarch Isaac Funk. Isaac Funk (1797-1865) was an influential early pioneer, who settled in Illinois in the 1820s. Over the next four decades, he built an agriculture and livestock empire, which was continued and expanded by his descendants.The family was highly regarded in both Illinois agriculture and politics.

In 1986 the Funk family made a generous gift to the University, Eugene D. Funk in reference to the gift said, “We have planted a seed that needs to grow.” This gift from the Funk family with the help of others eventually became the funds used to build the Funk library, which was then named in their honor. For more information on the Funk Family check out A Tree grows in Funks Grove: A History of the Funk-Stubblefield Families of McLean County, Illinois.