The Omega Foundation develops and supports initiatives that promote financial self-sufficiency through microfinance and enhancing the savings capacity and financial literacy of low-income families. In addition, the foundation supports the development of philanthropic responses to community needs using capital endowments as one way to ensure long-term solutions are found to meet pressing community needs.

Omega was originally founded to raise endowment capital to help fund the operations and programs of Calmeadow, a Canadian charity and leader in the field of microfinance.