The decision to create an American type education in Monterrey began at a meeting of parents at the Monterrey Foreign Club, on the night of June 28, 1928. The school opened on September 3, 1928, at 724 Hidalgo Street, with a principal/teacher and two other teachers caring for the educational needs of 57 pupils ranging from primary to tenth grade. The school was organized under Mexican law as a private civil society and received its charter on October 13, 1928.

During the 1936/37 school year, the location of the American School moved to an address on Bolivar (now Padre Mier) between Pino Suarez and Rayon. After June 1938, it moved again to the site of the Old Country Club in Obispado.

In April 1944, the school was reestablished under the name of The American School Foundation of Monterrey as a non-profit society, founded by four individuals. Some months later, they were joined by one more individual and thirteen companies who became the original Founders.

By the 1957 - 58 school year, enrollment had exceeded 450. A large scale fund raising drive was launched that permitted the Foundation to build and occupy the Rio Missouri Campus in September 1958.