Today he manages the Dane G. Hansen Trust and is a trustee of the Dane G. Hansen Foundation, which provides scholarships for students at KU and other Kansas educational institutions. The foundation also has provided fine arts scholarships in memory of Kate Hansen, a sister of Dane Hansen. Kate Hansen graduated from KU in 1907 and in 1913 received a bachelor of fine arts degree in piano. Dane Bales has been an active member and director of the Independent Petroleum Association of America and the Kansas Independent Oil and Gas Association. He was in the first class of inductees in the Kansas Oil and Gas Hall of Fame in Great Bend.
Bales is also a flying enthusiast and flies a powered glider.
Through the years, Dane and Polly Bales have been involved in a number of KU organizations. Dane Bales has served on the board of advisers for the School of Business, and Polly Bales has served on the board of the KU Alumni Association. In 1984, Polly Bales received the Fred Ellsworth Medallion for unique and significant service to the university. The Baleses have coordinated the Kansas Honors Program in Logan since its inception. They are also members of Jayhawks for Higher Education.