Founded in 1959 as an outgrowth of the Quarter Century Club formed as a social industry club after World War II. The prime movers in forming the charitable organization were Moe Strauss and Charlie Unger, Pep Boys; Ray Jesselson, a manufacturers representative; Charles Weissman, American Auto, and Arthur Taubman, Advance Auto. It was named the Ray Jesselson Benevolent Association. Later it became the Automotive Foundation for the Aftermarket (AFFTA) and finally, The Aftermarket Foundation.

Over the next 15-20 years, funds were distributed as needed. In the late 1970s, Don Schlenger took over and revitalized the Foundation. Now in its 50th year, the foundation supports many aftermarket veterans on a long or short term basis and is a key charitable arm of the industry.

A 501 (c) (3) Organization.