C. P. was also well known for his philanthropic activities and the institutions he helped establish. After his death, The C. P. Ramaswami Aiyar Foundation was established in his memory in order to promote traditional arts and crafts. While serving as a law member of the executive council of the Governor of Madras, Ramaswami Iyer's agenda for social reform and opening the doors of Hindu temples for Dalits and low-caste Hindus were praised by C. Natesa Mudaliar, one of the founders of the South Indian Liberation Federation. C. P. was a patron of arts and music and was member of experts committee consisting of some of the leading musicians and scholars to advise the Madras Music Academy.