The Frank Huntington Beebe Fund for Musicians was established in 1932 under the terms of the will of Frank Huntington Beebe, a Boston philanthropist interested in music. The purpose of the Fund is to provide fellowships for gifted young musicians, generally performers and composers in classical disciplines, who wish to pursue advanced music study and performance abroad, usually in Europe.

Fellowships are awarded to musicians based in the United States (although not necessarily U.S. citizens) at the outset of their professional lives, for whom this would be the first extended period of study abroad. Applicants must demonstrate a solid base of accomplishment in order to be considered and are generally not older than their mid-20s. A strong, well-planned project of study that will enhance the applicant's life in music must be proposed. Enrollment in a school or university is not required unless such study is an essential part of the project.

The Fund provides financial support for round trip transportation, living and other expenses. An all-inclusive grant of $22,000 will be offered. Fellowships are for one year and are generally not renewable.