The University of North Carolina and the United States Basketball Writers Association announced a new award to honor Dean Smith on Wednesday.

USBWA President and Yahoo! Sports writer Pat Forde says that there was one overwhelming feeling he had when approached about the idea of the Dean Smith Award during the Final Four.

“My first thought though is, ‘what took us so long?’ he asked. “We should have done this 15 years ago probably, at least.”

Past Basketball Writers Association President and Washington Post Columnist John Feinstein says the award will have nothing to do with wins and losses.

“We’re going to search for a person each year who Dean would be proud to present the award to, if he were still here,” he says. “That’s our criteria.”

Current Tar Heel head coach Roy Williams says the fact the award will focus on off-the-court accomplishments is a perfect encapsulation of Coach Smith.

“Contributions that he made off the court are probably millions of times more significant than the games that were won, the championships that were won, or anything like that,” Williams says. “I do think that it’s very fitting.”

Scott Smith, Dean’s son, says that his dad would handle this with the same humility as always.

“Dad would not want an award named for him,” Smith says. “I think he would want people to be acknowledged for doing similar things.

“Doing the right thing and not just because you’re going to get something for it, but because you should.”

Smith coached 36 seasons at North Carolina, winning two national championships and an Olympic gold medal and appearing in 11 Final Fours. He retired in 1997 with 879 victories, which at the time were the most by any basketball coach in Division I history. But he is equally remembered for his work to integrate Chapel Hill and other social issues.

In 2013, Smith was honored by President Barack Obama with the Presidential Medal of Freedom, the nation’s highest civilian honor.

Smith passed away in February at age 83.

UNC Spokesperson Steve Kirschner says a banquet will be held later this year in Chapel Hill to honor the first recipient of the award.

Proceeds from the dinner will benefit the Dean E. Smith Opening Doors Fund, which assists students from low-income families in attending college and professionals in education and social work – two fields close to Coach Smith’s heart – in pursuing advanced degrees.