The Walleye Wishing Well is the official charitable fund of the Toledo Walleye. Its mission is to provide financial support to local organizations with an emphasis on youth recreation and wellness. Administered through the Toledo Community Foundation, it assists local non-profit organizations through a variety of fundraising efforts, including theme night specialty jersey auctions and raffles at Walleye games.

Each year, the Walleye Wishing Well awards grants after requesting proposals from nonprofit organizations seeking to provide programming that promotes the overall fitness and wellness of children enrolled in kindergarten through twelfth grade. Grant funds are used to facilitate participation in programming that takes place during cold weather months, with activities to encourage healthy lifestyles, exercise, sports and/or physical fitness education.