The Endowment Fund was inaugurated during the 30th anniversary celebrations of the Council in Monrovia, Liberia, in March 1982. The Objects of the Fund are to promote educational development projects of an international nature, provide awards for outstanding contributions to the Council’s work, and give prizes for outstanding performance by candidates in the examinations conducted by the Council.

The Endowment Fund is administered by a 12-member Board of Trustees which exercises general direction over the Fund and, in particular, examines and approves proposed projects. The Board is made up of the Chairman of Council, leaders of the five-Country Delegations, one distinguished personality from each member country and the Registrar to the Council. The current members of the Board are: