A small group of year-round swimming parents met for coffee on May 6, 2002 to discuss the severe lack of aquatic facilities in the Triangle to meet the needs of year-round and high school swim teams and Wake County’s growing population. After researching facility costs and options, the group determined that there was a long-term need for additional year-round public aquatic facilities that would address the health, safety, recreation and competition needs of Triangle citizens and aquatic organizations. It was further determined that it was going to be difficult for Wake County and local municipalities to adequately fund and operate new aquatic facilities. Based on this conclusion, the group agreed upon a mission statement and began the long process of building what is now, the largest nonprofit public aquatic facility ever built in the country without one dollar of tax funding or subsidies.

The Triangle Aquatic Center incorporated on June 27, 2002 as a 501(c)(3) nonprofit charitable organization with an initial volunteer Board of six members. The first set of Bylaws were drafted and signed on September 11, 2002 with subsequent amendments on December 1, 2003 and May 8, 2006. TAC received its advanced ruling for its tax exempt status on November 4, 2002 and its final determination that TAC is a public charity and exempt from federal taxation as a 501(c)(3) nonprofit organization on May 21, 2007.