The Desmond Fitzgerald Fund was established in 1910 by a bequest of $2,000 from Desmond Fitzgerald, a Past President and Honorary Member of the Society. This fund was originally intended to provide income for charitable and educational purposes. On April 16, 1964, the Board of Government voted to establish a BSCES Scholarship in memory of Desmond Fitzgerald at Northeastern University. On September 21, 1981, the Board of Government redesignated the gift to a student as an award and stipulated that the amount be determined annually.
Currently, the Younger Member Group and the Student Chapter Committee oversee the use of the fund to ensure it is utilized for its intended purpose.