In 2000 at the 11th Convention in Stockholm, the establishment of an award in the name of the founder of Inner Wheel, Margarette Golding, was recommended.

A Margarette Golding Award may be given for highly commendable service to the community, either personally or through Inner Wheel. It can be presented to a member of Inner Wheel or members of the public whose highly commendable contribution to the community an Inner Wheel Club or District wishes to recognise.

The award is not given for members who have filled a number of positions in Inner Wheel over many years. Members who have given long and valuable service to Inner Wheel but who do not qualify for a Margarette Golding Award, may be recognised with the award of Honoured Active Membership.