• advancing the welfare of the needy and alleviating human suffering and poverty;
• assisting and promoting arts and cultural activities;
• promoting education;
• assisting sport, recreation and community development;
• assisting and advancing the provision of medical services; and
• assisting and advancing other community activities or facilities of a charitable nature.

• The Fine and Performing Arts Fund provides scholarships for those pursuing artistic excellence in drama, dance, music, and theatre arts, including technical production, studio arts, film or photography.
• The Jenny Gamble-Fournier Memorial Scholarship provides scholarships to Sir John Franklin graduates pursuing a post-secondary education with an emphasis on the arts.
• The Mary Beth Miller Memorial Fund provides scholarships in support of athletes who demonstrate enthusiasm and spirited participation in sport, and who strive to achieve their best – the qualities that Mary Beth exhibited in her approach to life.
• The Chris Argue Memorial Fund provides grants to promote the development of leadership skills and self-confidence in self propelled wilderness travel.
• The Lilly Borges-Oldham Second Language Scholarship Fund provides scholarships to assist students entering post secondary studies in languages and/or cultures.
• The Northern Aviation Scholarship Fund , which commemorates the lives of Captain John Ernest Bidwell and Captain James Smith, provides scholarships to individuals who aspire to a career in aviation in the north.
• The David Sutherland Memorial Fund provides grants to support young northern skiers.
• The Gary Robinson Memorial Fund provides grants to projects related to search and rescue/recovery or emergency response activities.
• The Enough Talk, Hurry Up and Do It Already Arts Scholarship provides scholarships to Sir John Franklin graduating students pursuing a career in the arts.
• The Aurora College Scholarship provides support for students from Yellowknife attending the Yellowknife / North Slave Campus of Aurora College (second or subsequent year).
• The Elaine (Sweet) Whitford Scholarship Fund provides support to NWT residents pursuing post secondary studies in social work or nursing.
• The Yellowknife Community Fund provides grants to registered charities for projects that are consistent with the Foundation's mandate to improve the quality of life in Yellowknife

The Yellowknife Community Foundation also supports the following funds: