John Motley Morehead III established the Morehead Foundation in 1945 to strengthen his alma mater, the University of North Carolina at Chapel Hill. A chemist and industrialist, he adapted the Rhodes Scholarship’s approach to an American public university, selecting students for character and leadership alongside academic ability. The first awards followed in 1951. The program would become a model for merit scholarships at the University of Virginia, Duke, and Emory.
In 1974, the foundation extended that education into the summers, sending scholars on Outward Bound expeditions and into public-service work. The summers grew to include international exploration and professional work, making experience outside the classroom a central part of the scholarship. A $100 million gift from the Gordon and Mary Cain Foundation in 2007 expanded the program and gave Morehead-Cain its present name.