The Scholarship Fund was established on September 9, 1969 to perpetuate the noble courage and character of Michael P. Quinn. Intent on keeping their "forever" friend's legacy alive, the founding members, Stephen Driscoll, Edward Johnson, and Ronan Fitzpatrick, collected donations from local Charlestown merchants in order to give out the first scholarship of $500. Since that time, the determination of Lt. Quinn's friends and the generosity of the Quinn Scholarship's supporters have allowed the scholarship to be given out to a total of 51 young Charlestown students. The scholarship today stands at $12,000, and is augmented by the Francis J. McCluskey Supplementary Award of $6,000 for the Quinn Scholar's second year. The Quinn Scholarship's board of trustees takes great pride in seeing its recipients go off to make the world a better place in Lt. Quinn's name by becoming doctors, lawyers, bankers, educators, administrators, etc... The spirit of the Scholarship is best encapsulated by the sage words of Benjamin Franklin, "If a man empties his purse into his head, no one can take it from him. An investment in knowledge always pays the highest return."