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The City Parochial Foundation was established in 1891 to administer the charitable endowments of 107 of the parishes of the City of London (five large parishes continued to perform their own charitable works). The Foundation inherited a number of valuable estates inside, and outside, the City Of London, which enabled it to acquire funds for a number of projects, as empowered by the 1883 'City of London Parochial Charities Act'.
The work of putting the Act into effect fell to the Charity Commission. It devised a Central Scheme, approved by 1891, which amalgamated the funds of charities governed by the Act into the Central Fund (for non-ecclesiastical charities) and the City Church Fund (for the remainder). Together these two funds constituted the City Parochial Foundation. The Foundation was governed by trustees known collectively as the Central Governing Body, supported by a number of committees.
The London Polytechnic Council was established in 1893 to promote uniformity of administration, inspection and examinations in polytechnics. It comprised representatives of the Technical Education Board, the Central Governing Body and City and Guilds of London Institute.
The Foundation assumed responsibility for the Chelsea Physic Garden in 1898 after the Society of Apothecaries withdrew its support.
In 1953 the governors of the People's Palace Theatre reported that the charity had failed, and the Foundation was asked to guide it through liquidation.