Martin's parents, Sybrina Fulton and Tracy Martin, will be presented with the donation.
The Trayvon Martin Foundation received a $50,000 donation from four Florida community businesses and organizations.
Donors to the foundation include Boyland Auto Group, LLC, Invictus Law Group, P.L., Boyz-4-Lyfe, and the Delta Xi Lambda Chapter of Alpha Phi Alpha Fraternity, Inc.
The four organizations are offering up the funds in the form of a scholarship in memory of Trayvon Martin and hope that it can help provide students of color with educational opportunities.
The scholarship will be granted to four graduating seniors at Dr. Michael Krop Senior High School in Miami, Florida.
"The purpose of this scholarship is to bridge the socio-economic gap among young people of color in the U.S., through educational opportunities for disadvantaged students who cannot afford a college education," said CEO of Boyland Auto Group, Dorian S. Boyland.
"We are doing what we can to make the world a better place by not being divisive but by uplifting our community through educational opportunities for kids who otherwise, would not have the same opportunity."
Martin's parents, Sybrina Fulton and Tracy Martin, will be presented with the donation on Saturday.