(NewsNation) — Wednesday marks the 38th annual National Girls and Women in Sports Day — an annual celebration that honors the achievements and strength in women’s athletics.

“From childhood dreams to stadium scenes, women in sports have always pushed boundaries and inspired,” the National Collegiate Athletics Association posted Tuesday on social media.

Established in 1987 by former President Ronald Reagan, the day was declared to acknowledge the important roles women play in sports as well as inspire new generations of young girls to get involved in athletics.

It was also declared in remembrance of Olympic volleyball player, Flo Hyman, who was an advocate for female equality in sports, the WSF reported.

Plus, a new EY study found sports have a huge influence on women’s everyday life success. Women who participate in sports in school are more likely to graduate from college, the study said. Women also increase their odds of landing leadership positions in the workforce when they have an athletic background.

“The confidence, strength and character gained through sports participation are the very tools girls and women need to become strong leaders in sports and life,” the Women’s Sports Foundation said.

Babe Didrikson Zaharias, Billie Jean King, Nancy Lieberman, Wilma Rudolph, Danica Patrick, Mia Hamm and Serena Williams are just some names among the growing list of trailblazers who have paved the way for future generations of women in sports.

“Happy national women and girls in sports day. I will forever be a proud Wildcat #SaveWomensSports,” Riley Gaines, the director of The Riley Gaines Center at the Leadership Institute and former University of Kentucky 12x All-American swimmer, posted to social media.