The organization raises funds for the support of peace and reconciliation, community development, education, and arts and culture in Ireland.
Collectively with The Ireland Funds’ 12 worldwide chapters, it has raised more than $550 million (US), benefiting more than 3,000 Irish charities.
Rooney himself stated it was established to counter the prominent militant NORAID (Irish Northern Aid Committee), which was routinely accused of using donations to purchase weapons for the IRA.
He stated it wasn't easy at first to persuade the American public already outraged at IRA atrocities to donate to the Funds: "[W]e often had to explain that we were not raising money for bombs.
Operating in 12 countries with worldwide membership chapters, The Ireland Funds have raised more than $600 million (US) for over 3,200 organizations.