The Masonic Relief Fund was initiated in 1988, by assessing each Lodge 50 cents per member on a one-time basis, and was so named in 1989. Under Section 170 (c) of the Internal Revenue Code and Section 106 (5) of the United States Master Tax Guide, contributions made from individuals, as opposed to corporations, are deductible when the donation is deposited into a fund which is used exclusively for charitable purposes.

Its purpose is to make funds available to Virginia Master Masons, their widows, and orphans, wherever a bona fide need exists. All requests for financial assistance must be submitted to the Grand Lodge office by the Worshipful Master and Secretary of the subordinate Lodge. The Committee does not act on a request made by direct contact from a Mason. Each request is transmitted to the Chairman of the Committee on Masonic Relief. The Committee reviews each request and makes a recommendation to the Grand Master, Deputy Grand Master, and Grand Secretary.