Established on October 8, 2016, The Evelyn H. Lorenzo Endowment Fund was made possible thanks to the generosity of Evelyn H. Lorenzo, who donated two Charitable Gift Annuities to the University prior to her passing in 2016. Evelyn received her Bachelor of the Arts from Cleveland College in 1947 and her Masters of Library Science in 1950.

The Evelyn H. Lorenzo Endowment Fund provides scholarships to undergraduate students at the College of Arts and Sciences, with a preference given to economically disadvantaged African-American students who demonstrate academic merit.