The Board governs the Foundation's operations and undertake the following legislative functions:

1. provides grants for evidence based early childhood projects and initiatives;
2. promotes awareness of the importance of the early years of childhood;
3. promotes research in relation to early childhood wellbeing, development and learning; and
4. such other functions as may be prescribed.

The objectives and functions of the Foundation are consistent with the Whole of Government Policy Framework for the Early Years. The Framework provides the State Government with a clear vision, goals, principles, strategic objectives and priorities for investment and action in early childhood development.