Mike Convis, Drake counselor, established the Drake Scholarship Foundation in 1965 when one $250 scholarship was awarded in memory of Daniel Joseph Vacha. Currently the Foundation awards twenty $3000 scholarships in honor or in memory of people from the Drake community. Funds are raised each year from investments, direct appeal and fundraisers. The board invites and welcomes the Drake community to contribute to these scholarships. Drake seniors are encouraged to apply for these scholarships each spring. Awards are given to college or vocational school-bound seniors who meet academic, financial and community service criteria established by the board. A committee of school staff selects the recipients.

The Foundation Board of Directors:
Currently fifteen parents, staff and community members serve on the DSF board:
Judi Burns, Greg Davison, Tom Fernwood , Rick Franceschini, Cherilyn Gilboy, Marcia Hagen, Anna B. Hearn, Cheryll Keast, Lisa Neumaier, Mark Nelson, Kathie Renick, Laura Shea , Susan Simmonds, Steve Thompson

Ex-Officio Members:
Chuck Alberton, Financial Advisor, Liz Seabury, Principal