The Matthew Holley Foundation is dedicated to helping high school students with scholarship monies to inspire their pursuit in the arts and academics. Since 2007 The Matthew Holley Foundation has awarded a number of scholarship awards young men and women intending to further their education at the collegiate level.

Matthew Holley was a special man who showed a love for both the graphic and martial arts.  He carried forward that love until he lost his life at the young age of 21 years, on November 15, 2005 in Taji, Iraq serving his country in Operation Iraqi Freedom. 

In his honor and memory The Matthew Holley Foundation was established for those who wish to "Carry Forward" this young man's desire to help others, especially children.  The foundation's Warrior Spirit award has gone to the top male and female competitors at the AAU Pacific Southwest Regional Karate tournament, a qualifier for the national competition. This award honors Matthew’s love of the martial arts and his achievements as a three-time U.S. National AAU Karate Champion.

In 2010 the foundation established two new awards:

The Excellence Award was awarded to the top JROTC cadet in The Colony, Texas near Dallas where the Holley family lived for seven years. In 2006 the American Legion Post 21 in The Colony, Texas renamed their Post 21 the Holley/Riddle Post 21 in honor of Matthew Holley and Jimmy Riddle, two American heroes who died in service to their nation.

The Patriot Spirit Award which is awarded annually to top student leader(s) attending Ocean View Christian Academy in San Diego, where Matthew attended in his early years. The areas considered for the Excellence and Patriot Spirit awards are based on academic achievement, leadership in their school and community service.