The scholarships supported by the endowment will go to students from the Panhandle region of Texas. First preference for scholarships will be given to students with high academic achievement and demonstrated financial need. Second preference will be given to students with exceptional academic records, regardless of their demonstrated financial need.

Caldwell’s giving spirit and civic commitment have long been evident, not only to Southwestern, but also to the communities of Clarendon and Amarillo, where she has been a civic leader for more than a half century. In the late 1950s, her efforts led to the formation of Girl Scout organizations in the southeast Panhandle. Over the years, she has also served on the boards of the Amarillo Symphony, the Lone Star Ballet, the Museum of Art, Methodist Mission Home, Texas Heritage Foundation, Saint’s Roost Museum and Methodist churches in Clarendon and Amarillo. In 1979, West Texas State University honored her with the Panhandle Distinguished Service Award.

In recognition of her continued generosity and dedication to the University, Southwestern awarded Caldwell the Distinguished Alumna Award in 1981 and the Southwestern Medal in 1999. Her spouse, T.M. Caldwell Jr., also received the Southwestern Medal. The Caldwell-Carvey Foyer in the Alma Thomas Fine Arts Center is also named in honor of her family and her sister’s family.