The Kitchener and Waterloo Community Foundation was established in 1984 by a group of citizens in Kitchener and Waterloo, Ontario, led by Walter Bean. It had originally been established as a trust by The Waterloo Trust (now Canada Trust) in August, 1930. "On May 1, 1984 the Ontario Legislature passed an act incorporating the K-W Community Foundation to take over the assets and assume the responsibilities of the original foundation bearing the same name."(KWCF document, May 1, 1985). The Foundation is administered by a board of directors who are responsible for overseeing its policies and practices. Donations to the Foundation are invested, with the income from the funds distributed in the form of grants to community organizations serving a wide range of needs, including cultural, educational, health and community services.