In July 2006, the ICA Greenhills Scholarship Foundation, Inc. (ICAGhSFI) was established to continually raise a seed fund whose income will be utilized to finance the scholarship of deserving but financially-challenged students of Immaculate Conception Academy (ICA).  Since SY 2009-2010, the Foundation has also provided financial assistance to public high school and college students mostly from the city of San Juan.

ICAGhSFI is accredited by the Philippine Council for NGO Certification and registered with the Bureau of Internal Revenue as a tax-exempt organization. It is also in partnership with the Philippine Development Foundation (formerly Ayala Foundation USA) who is registered with the Internal Revenue Service as a U.S. Section 501 © 3 tax-exempt organization.