The charity named "Cricket Aid" was launched by SLC to help hundreds of tsunami-affected families with promises of building them new homes and provide scholarships to a group of children who lost one or both parents in the disaster.
The project came under a cloud after sports minister Jeevan Kumaratunga suspended the cricket Board last month citing financial mismanagement and the Board's failure to obey his instructions and appointed his own interim committee to run the sport.
Thilanga Sumathipala, the head of the cricket Board, is committed to the scheme, his spokesman Ray Illangakoon said on Monday.
Sumathipala was elected by the Board following the government intervention and leading a court challenge against the sports minister's actions.
Under Cricket Aid, the Board had planned to build four villages comprising 200 homes and provide 10-year scholarships and medical insurance to 1,000 children affected by the December 26 tsunami, which killed more than 31,000 Sri Lankans.
Sumathipala, whose family runs publishing companies and restaurant chains, did not elaborate how the scheme will be funded unless the dispute is settled.
Under Sri Lankan law, the sports minister has the power to suspend any sports body.