The Trust was established as a Charitable Trust by deed in July 1989.  It was named The Licensing Trusts Charitable Foundation and then Community Grants Foundation.

TTCF took its current name in July 2004.  Trustees consider the current name better reflects its formation and objectives.

TTCF's licence to operate gaming machines states that funds shall be distributed to;

"Any charitable, philanthropic, cultural or party political purpose that is beneficial to the community or any section of it.  This shall include the assistance or provision of facilities, equipment or playing or training uniforms for sporting clubs and amateur sporting teams playing in recognised, published leagues or competitions.  Grants for charitable purposes including the relief of poverty or welfare assistance through donations to recognised social service or welfare agencies.  Grants to educational or training organisations through the provision of scholarships or equipment which is administered by the recipient educational organisation.  Grants for recognised cultural or philanthropic activities or groups within the local community".

TTCF's licence also states that funds must be distributed in the general community area in which they were generated, with the exception of funds retained for distribution to national societies or agencies.