Founded through Mrs. Reed’s estate for students majoring in business administration with preference given to students with financial need.

Mrs. Reed was well-known in the Frederick community. She served as the Executive Director of the Frederick County Chamber of Commerce from 1980 until 1993. She was instrumental in advancing the mission of the Chamber, and was known for her enthusiasm for promoting the businesses of Frederick County. In 1988, Mrs. Reed originated Leadership Frederick County, and ran this successful program for many years.