The Foundation grew out of a grassroots movement to preserve an iconic piece of Frankfort's history, the water tower. In 2007, just a few short months before his unexpected death, FPF founder Dan Hattan wrote these words about the structure:
"The historic Water Tower, when it first faced the wrecking ball in 1993, has come to symbolize, for many, the important role it has in shaping the connection between the past, present and future of Frankfort. It stands as gatekeeper and guardian of the spirit of our Frankfort Founders and the vigilant oversight of today's citizenry. It looms from our historic center to gaze upon our ever expanding neighborhoods. It connects us all to each other and our past."
Following Dan's original mission, the Frankfort Preservation Foundation continues to involve itself in the work of identifying, researching, funding and memorializing important people and places in Frankfort, working hand in hand with the Frankfort Area Historical Society to achieve their mutual goals.