In recognition of College Park Scholars' 20th Anniversary in 1994, several founders of the program established the College Park Scholars Founders Endowment in December 2004 to provide annual awards to students who have successfully completed College Park Scholars. This endowment funds the Katherine McAdams Leadership Award, the Beth & John Pattison Award for Creativity, the Phyllis Peres Award for Study Abroad, the Nancy & Ira Shapiro Award for Excellence in Undergraduate Research, and the Tri-Star Award.