The school and Auditorium were dedicated on May 8, 1924, with a five day celebration, including an address by the Governor of North Carolina. The souvenir program for the celebration, stated "The Richard J. Reynolds Memorial Auditorium is a monument to the memory of a great and good man. In its conception, the dominant idea has been to give to the community a building that will serve all the people in their aspiration for higher things." At the actual dedication of the Auditorium, Attorney W.M. Hendren said. "....it has fallen to me...to present this noble building with all its furnishings and equipment, to the City of Winston-Salem....to hold as trustee for the people.... There are no strings to the gift. the land with all rights pertaining thereto and improvements thereon is now the property of the City of Winston-Salem to be held, controlled and maintained for all time to come for one purpose only: the good of the people."

It is particularly sad that the visionary for the project, Katharine Smith Reynolds (now Mrs. J. Edward Johnston) was never able to see the project's completion, as she was in confinement in New York, and died in childbirth on May 23, 1924, 15 days after the dedication. Her funeral was held in Winston-Salem. Two services took place: a private one at Reynolda for relatives, friends, and employees to pay their respects. The public service took place at the new Richard J. Reynolds Memorial Auditorium, where delegations from most of the city's organizations paid their respect to "the woman who has perhaps done more for this city than any other woman who has ever lived here" in the words of a writer for the Winston-Salem Journal on May 26.

The purpose of the Auditorium is proudly stated on the bronze memorial tablet in the lobby:

Reynolds Auditorium