Davis established the fund with her sister in 1988.
Upward Bound Director Mariam Boyajian said Thursday that the check for the Upward Bound Scholarship Endowment Fund arrived Monday. Boyajian says Streep's donation is the largest single award the fund has received.
The Segue Institute for Learning in Central Falls also received $10,000 from Streep on Monday in Davis' honor. Davis grew up in Central Falls.
Streep won an Oscar for best actress on Sunday for her portrayal of Margaret Thatcher in "The Iron Lady." Davis was nominated for her role in "The Help."
Boyajian says Davis and her sister, Deloris Grant, graduated from the Upward Bound program.