When the regional government was established in 1973, it brought change through the reconfiguration of municipal structures and in some cases, dissolution and amalgamation. It was felt that the regional government had a responsibility to ensure that local heritage was preserved. 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.
With its wide membership, the Waterloo Regional Heritage Foundation is well-placed to consult, advise, and offer moral support on a wide number of heritage issues throughout the Region. The Foundation was not only the first heritage organization set up and funded by a regional government, but it set a precedent in Canada as the first heritage organization that was allocated a substantial amount of public money by any level of government.
In 2013, Tori Reitzel a University student volunteer prepared a presentation about the history of the Waterloo Regional Heritage Foundation from 1973-2013 for the foundations 40th Anniversary that was presented at the Annual General Meeting in June of that year.