In 1973, the Waterloo Regional Heritage Foundation was incorporated as a non-profit organization funded through an annual grant from the Region of Waterloo. Its mandate is to promote and encourage interest in the heritage and culture of Waterloo Region.
When regional government was established in the area in 1973, Jack Young, the first Chair of the Regional Municipality of Waterloo, recognized the importance of local identity and tradition. At a time of change, when previously existing municipal structures were reconfigured, including, in some cases, dissolution and amalgamation it was felt that regional government had a responsibility to ensure that local heritage was preserved.