The primary mission of the Lipscomb Family Foundation is to encourage and foster the positive development of youth.

Margaret and Guy Lipscomb established the Lipscomb Family Foundation to support efforts to encourage young people to grow into inquisitive, creative, educated, ambitious, productive, loving, caring, generous, truthful, trustworthy, moral, energetic, self-reliant, healthy adults.  They believed that development of these character qualities strengthens and improves relationships among family members and lays firm foundations for the next generation of Americans.

The foundation makes grants in the South Carolina Midlands/Columbia area (Calhoun, Fairfield, Kershaw, Lexington, Orangeburg, Richland, Saluda, and Sumter counties). Occasionally, the foundation has supported statewide education efforts in South Carolina if they impact youth residing in the Midlands.