Donors establish scholarship funds to provide scholarships for outstanding area high school graduates and college students to help them pursue higher education.  Each fund sets its own criteria for the applicants and most include academic excellence, community service and financial need. Some scholarships are renewable for college students.  The Foundation provides all administrative services, including coordinating the scholarship process with the high schools and students.

Current scholarship funds include:
Catherine Carrington Clawson Scholarship Fund

Charles H. & Dorothy S. Luedemann Art Scholarship Fund
College of The Albemarle Foundation Scholarship Fund
Courtney M. Burgess Memorial Fund
Curtis Creech Memorial Scholarship Fund
Dare Community Crime Line Scholarship Fund
Dare County Association of Fire Officers Scholarship Fund
Dare County Outer Banks Jaycees Scholarship Fund
Dare Math/Science Scholarship Fund
Duck Woods Ladies Tennis Association Scholarship Fund
Elmer & Betty Jo Sawyer Scholarship Fund
F.C. Minton Fund

First Flight Society Scholarship Fund
Founders Scholarship Fund (DW Ladies Golf Assoc)
Frank M. Cahoon Memorial Fund
George W. Neighbors Memorial Fund
Glenn Eure Endowment Fund for Arts Education
Greg & Eden Honeycutt Scholarship Fund
Inez Daniels Austin Scholarship Fund

Jerry & Arlene Davis Scholarship Fund
John T. Daniels Scholarship Fund
Kellogg Cuthrell Manteo Rotary Scholarship Fund
Lacy J. McNeill First Flight Rotary Fund
Leo Sheetz Memorial Scholarship Fund

Living Legend Scholarship Fund
Lucian Griffin Scholarship Fund
Mabel O. Cooper Scholarship Fund
Milton A. Jewell Scholarship Fund
NCPC Bettye Neff Merit Award in Communications Fund
North Banks Rotary Scholarship Fund
Outer Banks Association of Realtors Scholarship Fund
Peggy O'Brien Scholarship Fund

Robert E. Rollason, Jr. Memorial Scholarship Fund

Sgt. Earl Murray Memorial Scholarship Fund
Tom O'Brien Scholarship Fund
Wallace H. McCown Scholarship Fund