The Carold Institute for the Advancement of Citizenship in Social Change was founded by Clare Clark (Clara Evelyn Clark) in 1989. Over its history, the Institute focused its efforts on creating spaces for conversations that advanced democratic participation in Canada; supporting leaders in the voluntary sector to reflect on, refine and share their practices and knowledge; and fostering innovative partnerships with like-minded organizations and individuals. Through a series of events and programs, awards and fellowships, and sponsoring of other institutions' programs, the Institute promoted adult education and democratic participation in Canada.

Throughout the years, the Carold Institute established several fellowships and awards. In 2007, the Alan Thomas Fellowship (in honour of Dr. Alan Miller Thomas (II), former president of the Carold Institute) was created with the intention of providing leaders at transition points in their careers with year-long sabbaticals to pursue research of importance to the sector. The Institute also established the Winifred Hewetson Awards in Community and World Service to assist undergraduate students of the Faculty of Arts or Environment at the University of Waterloo who participate in a work term or field placement with not-for-profit organizations providing social services locally, nationally or abroad with little or no remuneration.

In 2016, the Carold Institute partnered with the Community Knowledge Exchange (CKX).