The fund donated the money so school officials could cut $50 from the $150 per sport athletic fee imposed on high school students this year. Earlier this year, school officials added $50 to the existing $100 athletic fee at the high school.
With the donation, the School Committee voted to officially reduce the fee back to $100. The board also dropped the maximum amount of athletic fees that can be charged each year from $600 to $400 due to the fund.
The fund is overseen by Lou Merloni, who plays second base for the Oakland Athletics and is a former member of the Red Sox.
The money was officially presented by the ballplayer's father, who is also named Louis Merloni, and Kathy Hauck, president of the Framingham High School Foundation. The elder Merloni also works on the group's board of directors.
"We're just happy to do that," said Merloni's father.
The foundation was established in 2001 to help raise money to support arts, athletics and extra-curricular activities at the school. The group also organizes the annual Salute to Framingham dinner.
The Merloni Fund donates money raised from charity golf tournaments - held from 2002 to 2005 - toward scholarships for student athletes at the high school.