Mill Valley Fall Arts Festival proceeds benefit the Emerging Artist Scholarship Fund.

The Mill Valley Fall Arts Festival committee implemented this scholarship program in 2010 and continues to offer the awards every year to two seniors and one junior who excel in the arts. MVFAF Emerging Artist Scholarships are two $500 awards given to two senior Advanced Placement Studio Art students and one $250 award given to a junior in either 2D Design, Drawing or 3D portfolio. Unlike most scholarships that go directly to the institution, the Mill Valley Fall Arts Festival awards are given directly to the student to be be used for tuition and art supplies.