In 1986 the Nanaimo Gyro Club established an annual $1,000 scholarship in memory of Elmer Bradshaw and Jack Ryan, who presided over the Club in 1934 and 1935, respectively. This initial award has grown into two, and sometimes three, scholarships of $2,000 each.
Applicants are assessed for the scholarships on five criteria:
- Financial Need
- Academic Record
- Outstanding Citizenship
- Leadership and Service
- Actively working to make their school and/or the community a better place
From 1986 to 2015, the Nanaimo Gyro Club has handed out $64,000 of scholarships.