The Friends of the Folsom Library is a service organization comprised of Rensselaer faculty, staff, alumni, retirees, and interested community members dedicated to enriching the collections, services, and events provided at the Folsom Library. Friends of the Folsom Library's mission seeks to enhance community understanding of the functions of the Library and demonstrate its potential as a resource, to sponsor programs for its members and others, and to encourage support for future advancement of the Library operations. The Friends began in 1976, inspired by a nationwide move for academic libraries to reach outside the academic walls and immediate constitutents to broader communities.

Over the years the Friends have supported a collection of best-selling fiction and non-fiction, a browsing collection of popular magazines, and a collection of DVDs. They also underwrite the maintenance of plantings and provide lounge furniture throughout the Folsom Library as well as sponsor occasional exhibits and events, such as talks by local authors. In partnership with the Rensselaer Retirees Forum, the Friends co-sponsored monthly Lunch and Learn presentations on various topics throughout the academic year.