The purpose of the fund is to provide financial assistance to outstanding African American students graduating from Concord High School and enrolling in college after graduation.

The members of the Asbury Family established the Asbury Scholarship Fund as a means of giving back to their home community of Concord, NC. The fund is also a tribute to their late parents, Beatrice and Charles Asbury, for their lifelong commitment to encouraging and supporting young people in their pursuit of high education.