The Robert Sydney Needham Foundation was established to support the "Robert Sydney Needham Memorial Scholarship" programs at colleges and universities in New Jersey. Its mission is to provide financial assistance to deserving students in the state. The scholarships are awarded based on a set of eligibility criteria designed to support students who demonstrate academic excellence, financial need, and active involvement in their communities.

The Foundation awards scholarships to full-time undergraduate students who are enrolled in New Jersey colleges and universities. The scholarship is intended to support students from their sophomore year through to their senior year. Each scholarship is worth up to $10,000 per year for a 4-year college or university, and up to $10,000 per year for a 2-year community college. The maximum award can be distributed over the course of three years, contingent on the recipient meeting the necessary academic and involvement criteria. This award is available to students with a GPA of 3.3 or above, who have graduated from a New Jersey high school and are involved in community service and campus leadership activities.

Organizations eligible to apply for this grant are required to be exempt organizations under Section 501(c)(3) of the Internal Revenue Code. The Foundation seeks to partner with institutions that can administer these scholarships, selecting students who meet the specified eligibility criteria. The scholarship committee at each participating institution will nominate one student for the award annually, with the committee consisting of faculty, staff, and financial aid office personnel.

The Foundation accepts applications year-round, with a clear deadline for each annual review process on March 1. These applications are reviewed at an annual meeting in April, and applicants will receive an automated email confirming their submission. A progress report must be submitted within six months after the funds are awarded to the recipient.

The Trustees overseeing the Foundation's operations are Wells Fargo Bank, N.A., John Newman, and Nina Stack. Interested parties can apply for the grant through an online application form, ensuring that all required documents and criteria are met before submission. The Foundation has an average annual grant size of $10,000, and they award approximately 35 grants each year.