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The paper describes findings from a critical analysis of contemporary fundraising policy in Ontario, Canada. Specifically, the study analyzed fundraising policy influences, texts, practices, outcomes, and effects (Ball, 1993; Bowe, Ball, Gold, 1992) in the province through the theoretical lens of critical democracy (Pinto, 2012; Solomon & Portelli, 2001). It asked: how does fundraising policy in Ontario schools support and/or undermine critical democratic commitments to equity, inclusion, participation in decision-making, dialogue, social justice, and the common good? Data included a range of government policy texts, videos, newspaper articles, academic studies, research reports, transcripts from parliamentary debates, and documents produced by non-governmental organizations. Findings from the critical analysis (Author, 2012; Rizvi & Lingard, 2010) demonstrate that fundraising efforts undermine the aforementioned elements of critical democracy. Ontario's fundraising policy is propelled by neoliberal and neoconservative ideologies, and it produces and perpetuates inequities between students within the public education system. Implications include greater disparity between “have” and “have-not” schools and communities, continued social stratification of the province's citizens, and perpetuation of the status quo.