The Frederic W. Goudy Award & Lecture were established in 1969 by funds donated to Rochester Institute of Technology (RIT) by the Mary Flagler Cary Charitable Trust in memory of her late husband, Melbert B. Cary, Jr., a typographer, type importer, fine printer, book collector, and president of AIGA. The award was named after illustrious American type designer Frederic W. Goudy, a friend and business associate of Melbert Cary.

Frederic William Goudy was an American printer, artist and type designer whose typefaces include Copperplate Gothic, Goudy Old Style and Kennerley. He was one of the most prolific of American type designers and his self-named type continues to be one of the most popular in America.