Founded in 1994 as an independent community-based organization, the Foundation is governed by a board of trustees comprised of community members and representatives from other school support groups. The Aurora Schools Foundation was founded in 1994 with the purpose of funding innovative grants that go beyond the school budget. Since its inception, ASF funded over $585,000 in grants to Aurora City Schools' educators, as well as scholarships to graduating seniors. During the 2023-2024 school year, ASF partnered with the Portage Foundation to fund $60,000 towards an adaptive playground at Leighton Elementary School so that students with disabilities in wheelchairs can access the playground to play with their typical peers. Additionally, ASF funded coding robots for the elementary school, as well as virtual reality headsets for the high school and elementary school. ASF funded a grant for the Greenworks Design Lab at the high school where students can use 3D printers to print prototypes.