Crime Stoppers of Michigan on Thursday announced the increase from $10,000.
Ypsilanti police Detective Joe Yuhas tells The Ann Arbor News that police continue to investigate the case and are following leads after getting "good information." The Detroit News reports police last week interviewed 10 people in their investigation.
Reed was fatally shot multiple times Oct. 18 at an off-campus apartment building in Ypsilanti in what police have said was a possible robbery.
The 20-year-old played in six games for Eastern Michigan this season. He was a communications major and starred as a receiver at Chicago's Simeon Career Academy.
Friends of Reed described him as a fun-loving person who became another victim of gun violence. A long line of mourners filed into Holy Temple Cathedral in Harvey last month to say goodbye to Reed.
"He was a tremendous person on and off the field of football," said friend Cywettnie Brown.
"Because he did so much in the little time he was here he will be remembered forever. Always in our hearts," said family friend Eugene White.
Loved ones struggle to understand why he's been taken from them.
"It's hard to lose someone you've known for so long that was a part of your life and the things you loved to do. This is very hard," said Brown.
Reed caught 15 passes for 181 yards and a touchdown this season.
"What he did on the field doesn't compare to what he was as a person," said White.
The Associated Press contributed to this report.