Canada Iceland Foundation has been in existence for over 50 years.  It is a registered charity and over the years has received gifts from individuals and estates.

The Foundation grants several scholarships every year.  Most of the scholarships are awarded on the basis of application from the individual and those scholarships are advertised on this website, in Lögberg-Heimskringla and elsewhere. As well as granting scholarships, the Foundation has in each year, made grants to the young people attending the Snorri Program in Iceland.  The Foundation has over the years also made grants to various cultural activities.