The Foundation for Young Australians (FYA) began in 1999 through a partnership between The Queen's Trust and the Australian Youth Foundation. Its aims were to explore ways of increasing the opportunities and wellbeing of young people from disadvantaged backgrounds and to provide leadership programs for young Australians more broadly. In 2008, the Foundation for Young Australians joined with Education Foundation Australia.

In 2012, the Foundation for Young Australians became a founding partner in the Building Futures for Young Australians research project.