At the Bennett Family reunion held June 26, 1999, Tom Rigoli, husband of Michelle "Mickey" Bennett, proposed that a family scholarship be established in memory of Mickey's grandparents, "Mac" and Libby," and the family values they espoused. He also pledged to match initial donations up to a maximum of $1,000 to get the scholarship program off the ground.
Tom's proposal gained traction in April 2005 when Michael I. Bennett in McLeod, Texas, a grandson of Mac and Libby, pledged to donate $1,000. With Mike’s generous pledge and Tom’s matching funds, the scholarship program was formally launched on June 30, 2005. Since then, more than 30 family members have made donations and eleven family members have received scholarship awards totalling more than $17,000.