We introduce the quasi-partition algebra QPk(n) as a centralizer algebra of the symmetric group. This algebra is a subalgebra of the partition algebra and inherits many similar combinatorial properties. We construct a basis for QPk(n), give a formula for its dimension in terms of the Bell numbers, and describe a set of generators for QPk(n) as a complex algebra. In addition, we give the dimensions and indexing set of its irreducible representations. We also provide the Bratteli diagram for the tower of quasi-partition algebras (constructed by letting k range over the positive integers).