CFFEF received its charitable status in 1991. Ever since, CFFEF has embarked upon a variety of various fundraising initiatives and activities, such as organizing large and well-attended concerts, gala fundraising dinners, film nights, special programs and celebrations, and in the early years direct mail campaigns. By July 31, 2012, CFFEF had raised ca 1.2 million dollars of which UofT, was given $25,000-40,000 annually toward the cost of the professorship in Finnish Studies. In addition, in 2009 CFFEF donated $500,000 to the University of Toronto toward the ultimate goal of endowing the Chair in Finnish Studies for perpetuity.
On June 15, 2012, CFFEF embarked upon a major fundraising campaign Endowment Campaign: Chair in Finnish Studies at the University of Toronto.