The funds come partially from the endowment which honors and memorializes persons identified with Drake High School.
Additional funds come from yearly fundraising activities.
Each year the awards are made to graduating seniors who will further their educations at colleges, universities and vocational schools. Recipients are chosen based on academic excellence, financial need, and service to Drake and the Marin community. A committee of school staff makes the selections. The Drake Scholarship Foundation Board is responsible for raising and managing the funds and setting the policies for the scholarships. Founder and former Drake counselor Mike Convis recently retired from the Board.