In the early years, disaster relief was the focus of The Foundation, but slowly the emphasis shifted to what now is the Awards Program. Created by and for FAWCO clubs, the Awards Program recognizes and honors the academic excellence and all-around achievement of the children of FAWCO members as well as FAWCO members themselves. FAWCO hopes to promote international understanding and good will by giving annual awards for study, in the US or abroad, at high school, undergraduate and graduate levels to these well educated, linguistically gifted and internationally- oriented children. Therefore, every year the Foundation recognizes their unique gifts and honors their excellence by giving the best of them awards carrying grants to help them pursue higher education overseas and in the US.

Since the first award was given under the aegis of The Foundation in 1972, many hundreds of thousands of dollars have been given to over 150 recipients. Every year we adjust the program to funds available, and to the changing needs of members' children. Since 1993 an award has been given to a student with with a special challenge such as hearing impairment, visual impairment, autism, traumatic brain injury, or a specific learning disability. The Federation Award is a special award for members who themselves wish to return to studies or seek a new career skill. The amounts vary according to funds available.

Two important points must be added here: 100% of all contributions designated by a club or individual for particular programs, i.e. Awards, Development Grants or other projects, go for that purpose. Nothing is deducted for administrative expenses. Also, regardless if a club has contributed to The Foundation or not, members and their children are entitled to apply for an award. Our program is for all clubs, with no exceptions. The children of the members of the Board of Directors as well as Directors themselves, however, are not eligible for awards.

The 2008 Awards were announced in March at the FAWCO Conference in Seoul.