"I'm just grateful for what Arkansas Baptist has done for us. I just hope justice will be served soon," said father Joe Olivier.
Family and friends gathered to pray for understanding.
Little Rock police say the student died from injuries when he was shot at 16th and Bishop streets. At the time, investigators say he was helping a friend change a flat tire.
"I spoke to him ten minutes before it happened. The next phone call was from my wife saying Derek has been shot," said Olivier.
No arrests have been made. There is a $10,000 reward for information available.
A research institute was also named in Derek's honor. Planners say it hopes to give more awareness to the problem of black on black crime.
"My brother was a good kid. He never got in any trouble and loved playing football and loved school," said brother Antoine Prince.