Founded by the Aspen Skiing Company in 1980 to promote philanthropy in the community, the Aspen Foundation, as it was originally named, raised funds by distributing Bronze Medallion Ski Passes to donors: a similar tradition that exists to this day. The introduction of Donor Advised Funds in 2000 further guided the Community Foundation towards fiscal and administrative self-reliance.

In 2008, the Foundation held $32.4 million in assets, with an endowment of $10.3 million, and distributed almost $3.8 million in grants to 314 nonprofits.

Looking forward, Aspen Community Foundation and its dedicated Board and staff aspire to fulfill a three-pronged purpose: to enrich the community through permanence, a collective consciousness, and civic leadership; bring donors, leaders, and community members together; and gather around important issues by providing a neutral and objective forum.