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Everell S. Collins was a member of the University of Puget Sound Board of Trustees from 1903 until his death in 1940. Mr. Collins was president of Collins Pine Company and the Ostrander Timber Company. His bequest funded much of the construction of the library and his family made a gift of the balance. The library was built in 1954, expanded in 1974 and renovated in 2000.

A Plaque regarding the library rennovation is located in the front foyer. It reads:

The University of Puget Sound acknowledges the donors whose generous gifts made it possible to renovate Collins Memorial Library during the campaign for Puget Sound "Charting the Future" Summer 2000. Bill and Melinda Gates Foundation, M. J. Murdoch Charitable Trust, Estate of Clare and Alyce Myers, Ben B. Cheney Foundation, The Gottfried and Mary Fuchs Foundation, The Starr Foundation, George I. Alden Trust, Key Bank, Dr. & Mrs. Peter L. Misner, The Seneca Real Estate Group Inc., The Titcomb Family. Mr. & Mrs. Eric R. Weidmann, Weyerhaeuser Company Foundation, Zimmer Gunsul Frasca Partnership.