The founding of the Canadian Polish Millenium Fund was praised at the general meeting of the Canadian Polish Congress held in 1960, leading up to the commemoration of the millenial anniversary of Christianity in Poland observed in 1966.

The statute concerning the Fund was registered in the office of the Secretary of State in 1964. The Fund was founded by Teodor Barankiewicz, Stanislaw Haidasz, Stefan Malicki, Ernest Matura, Zygmunt Rusinek, Rev. Michael Smith OMI and Jan Wasag.

The goal of the Fund is to promote and offer financial assistance for activities relating to Polish culture, assist students of Polish descent and Polish schools, libraries, academic institutions, the Polish Scouts and other Polish-community youth organizations in Canada.