When the composer Stephen Oliver died in 1992, he left the bulk of his estate in trust to provide funds to help young composers of opera and small scale opera companies, a continuation of the support that Stephen had given during his lifetime – many chamber opera performances would simply not have happened without his support.
The primary aims of the Stephen Oliver Trust were to encourage the creation, promotion and performance of contemporary opera, and to help support fledgling composers working in the contemporary opera field. In 2006, the capital funds of the Stephen Oliver Trust were incorporated within the Countess of Munster Musical Trust: the Stephen Oliver Award is now awarded every other year to an emerging composer who has written a work for music theatre to assist with the cost of bringing that work to performance. The Award for 2021 was for £5,000.