Richfield Foundation was organized in 1989 by a group of concerned Richfield citizens who felt there was a need for local support of activities and organizations that contribute to the well-being of Richfield and its citizens. The Richfield Foundation has made numerous grants in support of organizations serving the Richfield community including grants to cornerstone, family and children’s Services, Fraser Community services, storefront/youth action, VEAP and YouthNet.

In 1997, the Richfield Foundation created the Richfield Public Schools Dedicated fund to focus attention on donations to public school programs. The Richfield public schools dedicated fund developed many of the principles and programs that continue today as Mini-grants and the Golden Helmet.

In 2007, the dedicated fund committee formed the Richfield public schools (RPS) Foundation, an independent non profit organization dedicated to its commitment to the public school programs. From 2007 through 2014, the RPS foundation has awarded over $97000 in grants and problem subsidies to support a variety of educational enrichment activities with the schools