 It is administered by the Harry S. Truman Scholarship Foundation, an independent federal agency based in Washington, D.C.

Congress created the scholarship in 1975 as a living memorial to the 33rd president of the United States.Instead of a statue, the Truman Scholarship is the official federal memorial to its namesake president.According to the "Washington Post", the Truman Scholarship's "sole aim is to pick out people with potential to become leaders—then provide support to help them realize their aspirations."