The scholarship assistance sporadically provided by the Swiss Benevolent Society of New York became a formal program in 1979, when a legacy from Swiss businessman Andrew Pellegrini provided the funds for the regular payment of grants.
In 1988, a bequest from Sonia Streuli Maguire permitted the establishment of an Outstanding Scholastic Achievement award named in her honor.
In 1990, the Swiss Benevolent Society of Philadelphia joined forces with the SBS of New York, which led to the expansion of the geographical area covered.
In 1996, a long-time member, Dr. Heinrich Medicus, donated funds to institute the Medicus Student Exchange program between Switzerland and the United States.
In 1999, a gift from the Marie and John Zimmermann Fund allowed the creation of Zimmermann Scholarships for graduate students.