On December 6, 1994 a Hampton-Dumont Student Council Advisor, Pat Peterson and Guidance Counselor Terry Carr created the idea of offering scholarships to graduates of Hampton-Dumont High School. They created the Hampton-Dumont Dollars for Scholars under the Citizens Scholarships of America.

Name and Organizational Change: On January 11, 2012 the Hampton-Dumont Dollars For Scholars became an independent scholarship fund, the name was changed to the current name, the Hampton-Dumont Scholarship Fund.

Expand access to higher education for graduating seniors of Hampton-Dumont High School by promoting the scholarship program, having an operational structure, raising funds for student aid distribution, and distributing awards on a fair and nondiscriminatory basis. The fund is administered by a Board of Directors. The board is made up of community members from the Hampton-Dumont Community/CAL School District. The fund retains the services of a CPA to assist with appropriate tax filings, disbursement of scholarship awards, and managing the fund assets.