The purpose of the Golden Key Scholarship Fund shall be to foster and promote intellectual excellence through the granting of scholarships to qualified female undergraduates, who have completed at least 15 credit hours and who belong to any sorority recognized by the Office of Greek Life at the University of Missouri.  The corporation shall not discriminate in the granting of scholarships on the basis of race, creed, color or national origin.

In 1985, the Golden Key Scholarship Fund (GKSF) was be established from funds remaining from the  “110 Years Wonderful” campaign. The GKSF set out to award significant scholarships to the undergraduate, Greek-affiliated women who demonstrated academic superiority, involvement in extracurricular activities (including their Greek houses) and the need for financial assistance. The first $1,000 scholarship was awarded in the spring of 1987 to Pamela Lohneiss of Alpha Omicron Pi. By April 2005, the 20th anniversary of the GKSF, 158 scholarships totaling more than $150,000 had been awarded. Currently, more than 330 scholarships estimating over $700,000 have been awarded to   qualified female undergraduate students of sororities that are recognized by the National Panhellenic Council, the Panhellenic Council, or the Multicultural Greek Council at the University of Missouri-Columbia.