At the 34th annual reunion in 1962, a memorial scholarship trust fund was proposed and accepted.  The purposes of the trust, as set forth in the legal trust instrument by the original trustees, are:

      1. To establish and administer a program of scholarships, loan funds, grants, and any other activity calculated to encourage, enable, and promote education among young people; and

      2. To carry out a program of education designed to instill in young and old alike a continuing respect for those elements of character and integrity so admirably exemplified in the lives of pioneer citizens of the State of Texas.