The American College of Apothecaries Research & Education Foundation was incorporated as a public foundation in 1978. The Foundation promotes the public welfare through development of quality services in institutions providing health care, encourages and conducts research to improve health care provided to the public and encourages health care practitioners to improve the quality and availability of services to the public.

The Foundation presents two major awards each year which include grants to colleges of pharmacy for student activities. The Albert E. Rosica, Jr. Memorial Award is presented to a pharmacy practitioner who has worked extensively to strengthen pharmacy education and the ACA Dean’s Recognition Award is presented to the Dean of a college of pharmacy for contributions to community pharmacy practice.