The Richard D. McDonough Caddie Scholarship Foundation was established in 1955 to award college scholarships to caddies who worked at New Hampshire golf clubs. In its first year of operation, the Foundation granted two scholarships totaling $1,000. The Foundation expanded its mission to aid young people to include any employee, male or female, of a New Hampshire golf course and changed its name to the Richard D. McDonough Golf Scholarship Foundation. The McDonough Foundation recently awarded $115,000 in scholarship grants, for academic year 2017-18 to 76 young men and women employed at 26 New Hampshire golf courses who are currently attending 51 colleges and universities. With these most recent grants the Foundation has now awarded a total of $2,507,210 since the inception of the scholarship program.

The McDonough Foundation is a volunteer organization and is extremely fortunate to have in kind contributions for accounting and legal services and promotional production. As a result, operating expenses average less than ten percent of total revenue per year.

In April 2000, the Foundation announced the creation of The McDonough Permanent Fund. The purpose of this endowment fund was to position the Foundation to be able to increase the scholarships available to the young men and women eligible for awards. The fund supports annual grants for up to four years of college. To date, the Permanent Fund consists of twelve named endowed scholarships.

The McDonough Foundation is a not-for-profit organization. The Foundations 501(c)3 Employer Identification Number is 02-6012491. Copies of the 501(c)3 and W-9 forms are available upon request.