Jim and his wife, Ann, have hosted a benefit golf tournament to fund community projects since 1992. The event was renamed the Mike and Leslie Dicus Memorial Scholarship Golf Tournament. Its proceeds – more than $406,000 in 17 years – are rotated between East Central University, the Ada School Foundation, and the University of Oklahoma Foundation.

Every student from the Ada area who attends OU is awarded a Dicus Scholarship. The fund has helped many Ada students complete their education at OU.