The Portland Ice Skating Club Foundation was created using profits from the 2005 State Farm U.S. Figure Skating National Championships. Volunteers from Oregon Skating Council member clubs, including the Portland Ice Skating Club, helped make the event an unprecedented success. The profits were split four ways, and the Foundation was formed to manage the Portland Ice Skating Club's share and support its programs.

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The purpose of the Foundation is to make grants to support and promote the sport of figure skating in the Portland metropolitan area through activities of the Portland Ice Skating Club.

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The mission of the Foundation is to support the Portland Ice Skating Club, an Oregon nonprofit corporation, to enable it to fulfill its mission to assist children and adults through the sport of figure skating.

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The Foundation awards grants to educational programs, training programs, and similar activities open to all skaters who are members of the club or of US Figure Skating or who are otherwise qualified to participate in its activities.

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The Portland Ice Skating Club is a 501(c)(3) nonprofit organization (EIN 20-8913527). Donations are tax-deductible to the extent allowed by law.