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The Frankford Athletic Association was organized in May 1899 in the parlor of the Suburban Club. The cost of purchasing a share in the association was $ 10. However, there were also memberships, ranging from $ 1 to $ 2.50, made available to the general public. The Association was a community-based non-profit organization of local residents and businesses. In keeping with its charter, which stated that "all profits shall be donated to charity", all of the excess income was donated to local charitable institutions. The original Frankford Athletic Association apparently disbanded prior to the 1909 football season. Several of the original players from the 1899 football team kept the team together, and they became known as Loyola Athletic Club. In keeping with Yellow Jackets tradition, they carried the "Frankford" name again in 1912, to become the Frankford Athletic Association.

In the early 1920s, the Frankford Athletic Association's Yellow Jackets gained the reputation as being one of the best independent football teams in the nation. In 1922, Frankford absorbed the Philadelphia City Champion team, the Union Quakers of Philadelphia. That year, Frankford captured the unofficial championship of Philadelphia. During the 1922 and 1923 seasons the Yellow Jackets compiled a 6–2–1 record against teams from the National Football League. This led to the Association being granted an NFL franchise in 1924, thus becoming the Frankford Yellow Jackets. Midway through the 1931 season, the Yellow Jackets went bankrupt and were forced to cease operations.

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