Introduced at the 1981 National Order of the Arrow Conference, the Founder's Award recognizes Arrowmen who have given outstanding service to their lodge. The award is reserved for an Arrowman who demonstrates that he or she personifies the spirit of selfless service, as advocated by founder E. Urner Goodman and cofounder Carroll A. Edson.

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Lodges may petition the national Order of the Arrow committee to present between two and four awards annually, depending on the number of members in the lodge. If the lodge presents more than one award, at least one must be awarded to a youth under the age of 21.