A philanthropic group has donated $124 million to the HBCU Transformation Mission, an initiative began final yr that goals to enhance enrollment and retention at traditionally Black faculties and universities and reverse their historic funding inequities.
The venture is a collaboration between three teams centered on HBCUs: UNCF, Thurgood Marshall School Fund, and Partnership for Training Development. Leaders from these teams praised the initiative and funding in a Wednesday announcement.
“We’re thrilled that main donors and philanthropies are exhibiting a brand new curiosity in HBCUs, and we welcome their assist,” Harry Williams, president and CEO of Thurgood School Marshall Fund, mentioned in a press release. “It’s long gone time for HBCUs to get the assets they deserve.”
Many of the new funding will likely be invested into initiatives at particular person HBCUs, corresponding to constructing expertise infrastructure and testing new curricular approaches. Greater than three dozen HBCUs are taking part within the venture, from small non-public establishments like Benedict School, in South Carolina, to bigger land-grant establishments like Prairie View A&M College, in Texas.
The donation comes from Blue Meridian Companions, a nonprofit centered on bettering financial mobility and racial fairness. The identical group additionally gave the HBCU Transformation Mission an preliminary $60 million when it launched in March 2022.
In a press release, Jim Shelton, the nonprofit’s president and chief funding and influence officer, pointed to the HBCU Transformation Mission’s latest wins as justification for extra assist.
For example, Morehouse School, in Atlanta, improved pupil outcomes after growing a retention method that identifies learners in danger for stopping out and gives them with assist like intensive advising, based on the announcement.
“With this newest funding, we hope to speed up the tempo of change and strengthen these very important establishments and the scholars they serve at scale,” Shelton mentioned.
