Halifax Foundation operates under Nova Scotia Provincial legislation (Acts of Nova Scotia 1983, C.69). The Foundation is a registered charity under the Income Tax Act. Its endowment funds are managed wisely and profitably by the Board of Directors. It is mandated to support, from earnings on invested contributions, existing and new endeavours in arts and culture, education, environment, health, heritage, recreation and social response that enhance public spaces, facilities and services in the Halifax Regional Municipality. The Foundation serves the whole of the Halifax Regional Municipality.
The members of the Board of Directors, all volunteers, are appointed by a Committee, consisting of the Lieutenant Governor of Nova Scotia, the Chief Justice of the Trial Division of the Supreme Court of Nova Scotia, the Mayor of the Halifax Regional Municipality, the Deputy Attorney General of Nova Scotia, and the President of the Metropolitan Halifax Chamber of Commerce. As of 2014, the Board of Directors is constituted as follows: