The American Foundation for Aging Research (AFAR) was incorporated in 1979 as a non-profit organization. It is the only organization supporting education and research in aging through fellowships to graduate and undergraduate students. AFAR is recognized as a tax-exempt, educational and scientific national charity, to which contributions are tax deductible. AFAR's national headquarters are housed on the North Carolina State University campus, in the Department of Biochemistry. While the University kindly donates office space to the Foundation, there is no formal relationship between the University and AFAR. AFAR acts independently in all of its operations.

The Foundation was established to promote the health and welfare of the mature individual and to increase knowledge about the biological aspects of aging by encouraging and promoting scientific research and educational opportunities in the field. The Foundation objectives are:

• Foster public understanding, interest, and support of research in the field of aging
   
• Stimulate and encourage professional development and preparation for research in the biology of aging
   
• Increase communication among all persons, professions, and organizations concerned with aging and provide interdisciplinary forums to this end
   

The Foundation is certified by the Independent Charities of America. 

The Independent Charities Seal of Excellence is awarded to the members of Independent Charities of America and Local Independent Charities of America that have, upon rigorous independent review, been able to certify, document, and demonstrate on an annual basis that they meet the highest standards of public accountability, program effectiveness, and cost effectiveness.

These standards include those required by the US Government for inclusion in the Combined Federal Campaign, probably the most exclusive fund drive in the world.
Of the 1,000,000 charities operating in the United States today, it is estimated that fewer than 50,000, or 5 percent, meet or exceed these standards, and, of those, fewer than 2,000 have been awarded this Seal.