School of the Woods formally established the Acorn Fund in 1997 as a way to permanently institute a financial aid program. Before that, the issue of student aid was handled on a casual sporadic basis.

The first appeal mailing was sent to the school community, past parents, alumni and friends in December 1997.

Response for that first appeal was encouraging, so a new appeal has gone out each December since. Although the appeal is sent in December, contributions to the Acorn Fund are welcome at any time.