The Waite Family Fund was established in 1983 by Winifred Waite in honor of her father, Marcus Warren Waite. The fund was created to benefit Wakefield students, with a preference given to a resident of Oak Street, a place the Waite Family had called home since 1911.

Marcus Waite harbored dreams of attending Tufts University. However, due to financial barriers including no student loans and scholarships available in 1900, he was denied the opportunity to attend college. Undeterred, Mr. Waite taught grammar school for three years before serving as a Customs Inspector from 1918 until his retirement in 1952.

Marcus Waite was a genealogy expert who authored several books and earned a place in the Compendium of American Genealogy. His literary contributions are preserved at the New England Historical Genealogy Society of Boston, the Baker Library at Dartmouth College, as well as public libraries and historical societies in Colorado, Rhode Island, and Vermont.

Winifred Waite, a member of the Wakefield High School Class of 1934, continued her education at Katherine Gibbs School in Boston. She worked as a legal secretary and was a strong supporter of CSF (now TSF). Winifred, sharing her good fortune, established this fund with the winnings from the Massachusetts State Lottery Numbers Game.

For four decades, the Waite Family Fund has positively impacted students throughout Wakefield, including many residents of Oak Street.