The Cream City Foundation (originally the Cream City Association Foundation), was founded by the Cream City Business Association in 1982 as the charitable arm of the the CCBA, but quickly adopted its own set of bylaws and registered with the State and Federal I.R.S. as a separate charitable foundation.

CCF sponsored the first Casino Nights (based on a stellar event run annually by San Francisco's gay/lesbian foundation); co-sponsored several scholarships; and sponsored the first regularly scheduled Gay/Lesbian-themed cable news program on public access cable. After a the demise of GPU, the CCF also laid the groundwork for community meeting space with a community center opened December 1987.

In October 1987 the CCF sponsored a regular cable program called "Tri-Cable Tonight", which was sponsored by a group of people called Milwaukee Gay/Lesbian Cable Network and became a subcommittee of the CCF. This network of people created original lesbian/gay programming for almost 5 years for telecast on Warner cable open access channels.

In December 1987 the CCF opened an office and conference facility in what was named the Foundation Community Center. This facility became the meeting place for many other organizations and events over the next 2 years. It was also the place that new mayor John Norquist met with gay/lesbian community leaders in May 1989 to discuss how his new administration could be more LGBT-issues aware.

In 1989 the CCF moved their offices to the Enterprise Center just off Locust Street, then in the mid 1990s moved into the building leased by the Milwaukee LGBT Community Center, where it has been ever since. At the same time, a succession of full time Executive Directors is now moving the CCF into a more prominent role, as it begins to network with other foundations and with organizations looking for financial support, to better leverage the available funds via more networking and collaboration.

Presidents of CCF have included:

1982-1983- Ralph Navarro
1984-1989- Don Schwamb
1989-1991- Warren Breitlow
1991-1993- William Frank
1993-1998- Tony Rhodes
1999- Mary Messerlie - Denise Wise
- Kevin Loos

The UWM Archives LGBT Collection holds a considerable amount of the Cream City Foundation's historical papers. UWM Archives has this description of CCF in their collection description:

Cream City Foundation (CCF) is the only non-profit, grant making, community-based foundation serving the entire State of Wisconsin whose sole purpose is to support the changing needs of the gay, lesbian, bisexual and transgender communities. The Cream City Association Foundation, as it was originally known, was formed in mid-1982 as the charitable arm of the Cream City Business Association (CCBA). However, CCAF quickly adopted its own set of bylaws and registered with the State and Federal I.R.S. as a separate charitable foundation. The first board meeting of the CCAF was called to order on October 5, 1982. In December 1986, CCAF changed its name to the Cream City Foundation. Past presidents include Ralph Navarro (1982-1983), Don Schwamb (1984-1989), Warren Breitlow (1989-1991), William Frank (1991-1993), Tony Rhodes (1993-1998), and Mary Messerlie (1999- ).

In addition to awarding grants, CCF has also sponsored the Milwaukee Gay/Lesbian Cable Network, a volunteer group that produced regular and special programming on gay and lesbian issues for Milwaukee's public access cable channel. It helped establish the Foundation Community Center in 1988 as a gathering place for various groups in Milwaukee's LGBT community. CCF raises funds by participating in the United Way and A CHOICE programs, holding fundraising events such as Casino Night, and relying on the donations of private individuals.