Keynotes, in memory of Fay S. Olmsted, established the Scholarship Fund in 1970. Mr. Olmsted was the President and Managing Director for twenty years. The original $900 donated by the Keynotes has grown steadily through investments, memorial tributes, benefit parties and special gifts.

Dr. Arlene Shrut has given four special awards totaling $1400 to the best accompanist at the auditions. Contributions in memory of Elsie Ferrall have reached $10,000, and these monies are being used to enhance the 1st place scholarship.