Formed in 1985 as the Voluntary Service Overseas Committee to fund the overseas postings of Isle of Man VSO volunteers, the Committee changed its name the following year when it was given responsibility for the funding of all overseas development aid projects. Responsibility for donations to disaster appeals was given to the Committee in 2000.
Meetings usually take place three or four times per year.
Projects in Africa, Asia, Central and South America, and Eastern Europe have all benefited from donations. The Overseas Aid Committee is responsible for administering the distribution of the Isle of Man Government's development aid funding. Projects in these areas that address the role of women and gender equality will be strongly encouraged. The Committee will however occasionally consider requests from local people to support particular projects. The Committee requires a project report to be submitted upon completion of each project.