In April 1965, members of Club Austria founded the Vienna Opera Ball Foundation in Edmonton. The Foundation was formed from local Edmonton residents of Austrian heritage to commemorate the Viennese composer Johann Strauss II. The Foundation’s name changed to the Johann Strauss Foundation on December 21, 1975 to avoid a legal conflict with Club Austria.

The principal aim of the Johann Strauss Foundation is to support musical education in Alberta. The Foundation, through scholarship, encourages and supports young musicians in Alberta who wish to complete musical studies in the cultural environment of Austria. The Johann Strauss Foundation obtains its scholarship funds from donations, grants, sponsorships and proceeds from various social events. Scholarships assist deserving Albertans in pursuing advanced music studies in Austria.

The Foundation also provides moral support and financial assistance to musical endeavours in the community, such as workshops by visiting teachers from Austria and musical events of special educational value, such as recitals.

The founders of the Foundation sought to preserve the cultural heritage of their country of origin and to share this heritage with the community of Edmonton through the Foundation's fundraising activities. The Foundation is governed by a Board of Directors consisting of a President, Treasurer, Secretary, Past President, and Director at Large.

In early 2009 the Foundation presented its assets as an endowment to the Faculty of Arts at the University of Alberta. The former Johann Strauss Foundation Scholarships continue to be available but are now administered by the Wirth Institute of the University of Alberta as the “Johann Strauss Foundation Music Awards for Advanced Study of Music in Austria”