The 1986 Board of Directors of the Letran Alumni Association (LAA)  headed by Francisco R. Liongson IV organized the Colegio de San Juan de Letran Foundation and was duly registered with the Securities & Exchange Commission (SEC) in July 18, 1986..  The move was motivated by the desire to provide assistance to the students, the alumni and the school through student scholarships, faculty development, LAA secretariat support, research projects, etc.  The alumni body needs to raise funds in order to build its financial base to support its objectives and to sustain the assistance programs. An eleven (11) man Board of Trustees manages the affairs of the foundation.

In April 2, 1992, the SEC approved the amendment changing the name of the corporation to Letran Alumni Foundation, Inc. (LAFI). 

Fund-raising activities like raffles and donations were undertaken and LAFI became the repository of these funds. 

As sister organizations, both the LAA and LAFI work for the benefit of the students, the alumni-members and the school.  They differ in the aspect of functions they perform.  The LAA is the entity concerned with the day-to-day activities of the alumni body.  It is the operational arm of the Letran alumni.  It serves as the communication link among the members.  Thus, class reunions; general alumni homecoming, alumni awards, etc are some of the more significant programs it is tasked to do.  Likewise, it is open to activities that would generate funds to supplement its coffers.

On the other hand, LAFI’s main function is to build the principal fund it has under its care, work for its growth and promote the prudent use of any amount available for disbursement.  It is both for LAA and LAFI’s mutual benefit that the funds under LAFI’s care grow.  The office of the executive officer as the alumni secretariat is referred to can improve the services it gives the members and the LAA can expand more its assistance program in a sustained manner when more funds are available from the earnings of the LAFI funds.

In 1999, LAFI entered into discussions with the school to explore the possibility of joining efforts and working together on these same objectives which culminated in the signing of a Memorandum of Agreement with the school’s San Vicente Liem de la Paz Foundation (SVLPF) together with the LAA on March 29, 2001.   In late 2005, the tri-partite agreement was no longer pursued. SVLPF returned the LAFI fund that was earlier turned over to SVLPF. During the interregnum LAFI was in dormancy. LAFI then had to be revived.