Cooper Union for the Advancement of Science and Arts was founded in 1859 by philanthropist and inventor Peter Cooper.

Peter Cooper himself came from a working-class background. He hopped between various odd careers such as cabinet making, hat making, and brewing, yet through and through he was an inventor at heart. Cooper was able to purchase a glue factory in 1821. He found new ways to produce glues and other products like gelatin and isinglass from the raw materials that nearby slaughterhouses provided. This propelled Cooper into a business career in which he invented the "Tom Thumb" locomotive to navigate the hilly terrain near Baltimore, built the largest rolling-mill for railroad iron in the United States, and eventually oversaw the production of the first structural wrought-iron beams. He went on to found the Cooper Union, inspired by Paris' École Polytechnique.

The institution began as a night school that hosted courses in architectural drafting and the applied sciences. The building also held day-time classes for the Female School of Design instructing women in then-new technologies such as photography, telegraph, and typewriting. Peter Cooper's humble beginnings inspired a pedagogical model that offered working-class men and women upward mobility, at the same time instilling a sense of social responsibility that would create highly active citizens.

The building which the school resides in features the rolled wrought-iron beams Peter Cooper invented and produced. Another quirky feature of the structure is its round elevator shaft, which was completed prior to the invention of the elevator. Cooper believed that the elevator would soon be invented in a cylindrical shape. The Foundation Building was the tallest when it was completed in 1859 and was declared a National Historic Landmark in 1961.