Founded in 1949 by Robert A. Laidlaw, the institution was established with the purpose of providing financial support for charitable, conservation, educational, and cultural organizations in the Ontario region.

In recent decades, the foundation has moved away from making major gifts to large institutions, shifting its focus to organizations and initiatives addressing child poverty, civic engagement, at-risk youth, justice for Indigenous communities, environmental sustainability, and the arts.

[4] During this period, the foundation continued its support for environmental initiatives and cultural projects, but shifted focus from large legacy cultural institutions like the ROM to small theatre companies such as Buddies in Bad Times, Theatre Passe Muraille, and the Ballet Creole.

Following the 2015 release of the Final Report of the Truth and Reconciliation Commission of Canada, the foundation pledged to support the implementation of the 94 calls to action, and has since given greater priority to addressing the needs of Indigenous communities.

[5] The Laidlaw Foundation's 2019-2024 Strategic Plan prioritizes "a deeper emphasis on youth-led systems change"; this includes focussing on "under-served youth impacted by the justice, education, and child welfare systems, and redoubling the commitment to elevate their needs and amplify their voices.