By 1911, Cincinnati, Ohio had proven itself a center of cultural activity as its Conservatory of Music (1868), May Festival (1873), College of Music (1878), Art Museum (1881), and Cincinnati Symphony Orchestra (1895) were well established and flourishing.  A small group of women felt that out-of-town female students needed to be able to find affordable housing in an atmosphere that offered guidance, counseling, and opportunities to apply for scholarships and loans.  This brought about the founding and incorporation of the Three Arts Club of Cincinnati on May 9, 1911.  As the project expanded, the Club rented a house on Auburn Street.  Later a house on Upland Place was purchased, and the final residence was located at 200 East McMillan Street.

More than 1,240 women lived in the Clubhouse. As alternative housing and dormitories became available, the assets of the Club were sold and invested in a trust in 1953, which was expanded by several other bequests to become the Three Arts Scholarship Fund, Inc.  Every year scholarships are awarded to junior and senior college women in the areas of Music, Musical Theater and Drama, and Visual Arts.

Past winners have included Kathleen Battle, Barbara Daniels, Petah Coyne, Sarah Voght, Chauntel McKensie, Anna Polusmiak, Denise Devlin, and Catherine Keen.