On behalf of the family of Ray Grace and the entire staff of CDR Fundraising Group, I am pleased to announce that an independent trust -- The Raymond J. Grace Scholarship Fund has been established.

This trust will provide scholarship support to young people from nonprofit organizations who seek to expand their knowledge of direct-response fundraising.

This is in keeping with Ray's role as a mentor to many young people and as a leader in education throughout the nonprofit sector.

Ray's wife noted that it is exactly what he would have wanted, except that, due to modesty, he would never have put his own name on it.

The employee-owners of CDR Fundraising Group have proudly made an initial gift of $10,000 to establish the trust.

I invite you to consider memorializing Ray Grace's contributions to society and to our industry by sending a gift to:

The Raymond J. Grace Scholarship Fund
c/o CDR Fundraising Group
16900 Science Drive, Suite 210
Bowie, MD 20715

We will see that it gets to the trust fund.

Sincerely,

Geoffrey W. Peters
President and CEO
CDR Fundraising Group