The objectives of this non-profit society, which was registered in 1980 and is under the patronage of the Ukrainian Canadian Committee, are to commemorate events of historical and cultural significance; to educate, promote and foster an appreciation for the Ukrainian heritage; and to relieve poverty and to promote and encourage national and international aid and development. The Society is governed by an elected board consisting of 8 volunteer directors and 5 table officers. The formal membership steadily declined over 1990s from 53 to 17.

The Society has a charitable number enabling donors to receive tax deductible receipts. The funds are primarily raised through casino events as well as individual and institutional donations. The language of administration used to be Ukrainian until mid 1990s, when the reports started to be produced in English. The list of past Presidents includes Mr. Batiuk, W. Kunda, Dr. D. Todosijczuk and Peter Savaryn. Since its inception, the Society has seen over two million dollars go through its accounts for various Ukrainian projects. The Society's projects included erection of a statue, “Pioneer Family,” in 1980 at the Ukrainian Cultural Heritage Village; the Ukrainian Centre for Multimedia; the “Great Famine Monument;” various scholarships; the Foundation of the Encyclopedia of Ukraine; and the Children of Chernobyl Fund. The AUCS sponsored various Ukrainian events, visits of Ukrainian leaders, academics and similar notables, initiated translation of medical textbooks from English to Ukrainian in conjunction with the Alberta Ukrainian Medical Society, and sponsored various research and literary publications.

The Society regularly supported the following organizations and initiatives: Friends of the Ukrainian Village Society, Ukrainian Canadian Congress, Chair of Ukrainian Folklore at the University of Alberta, Canadian Institute of Ukrainian Studies, Encyclopedia of Ukraine project, Alberta Parents for Ukrainian Education Society, Ukrainian Students' Club and many others.