There are two major scholarship organizations involved with the Elmwood School District – the Elmwood Educational Foundation (founded in 1990) and the Marie and Margaret Ekstrand Educational Trust (1993). Both scholarships encourage students to strive to achieve their potential by providing a financial incentive. Since 1991, the two scholarships, along with other local organizations, have given over $1,000,000 in scholarships to Elmwood graduates. On an annual basis well over 50% of graduates receive local scholarships.