The Reuben F Scarf Memorial Foundation came into existence in 1972. Originally named after Mr. Scarf's parents Frank and Nahida Scarf, the Foundation's name was changed to the Reuben F. Scarf Memorial Foundation upon his death in 1993 .

Today, the Reuben F Scarf Foundation contributes to many deserving and charitable causes of many kinds and creeds, both in Australia and overseas. The Reuben F. Scarf Award for Commitment is one of those deserving causes. It is offered to every school in New South Wales and held a special significance for Mr. Scarf, as he believed that "young people who are persistent and dedicated, are the ones who ultimately reach their goals. A little recognition and help can be the magic that builds the confidence necessary to start them on their way upwards."