In 2015 Joe Craft and his wife Kelly Craft co-founded the
Craft Academy for Excellence in Science and Mathematics at Kentucky's
Morehead State University, a special program for academically exceptional high school students. By 2019 they had committed over $10 million to the academy. The Joe Craft Tower, a wing of the
Hazard ARH Hospital in Hazard, was completed and opened in 2014. Craft donated $1 million to the project. In 2016, he donated $4.8 million for the construction of the facility housing the day-to-day University of Kentucky football operation. In 2019, he made a $3 million gift to support the Institute for the Study of Free Enterprise, in the
Gatton College of Business and Economics, of the University of Kentucky. In 2022, he made a $7.5 million gift to renovate the University of Kentucky football team's indoor practice facility. Craft has taken the
Giving Pledge, pledging "to give the vast majority of my resources to philanthropic causes and charitable endeavors targeted to people and organizations that embrace individual responsibility, economic freedom, reducing poverty and providing opportunities for those willing to chase the American dream." ==Awards==