HCBUs Benefit During Season of Giving
You might say Christmas came early for some HBCUs (Historically Black Colleges and Universities) in Georgia.
Big Gift: The Arthur M. Blank Family Foundation announced in October it was donating $50 million to HBCUs. Photo credit: Arthur M. Blank Family Foundation
In October, the Arthur M. Blank Family Foundation announced it was donating $50 million to Clark Atlanta University, Morehouse College, Morris Brown College and Spelman College – HBCUs in the Atlanta University Center. The money will be used to fund scholarships for students in good academic standing who are close to finishing their degree but have exhausted all other financial aid options.
Respected Philanthropist: Arthur M. Blank. Photo credit: Arthur M. Blank Family Foundation
Just three weeks after that announcement, Spelman received an additional gift – this one a $38 million grant from philanthropist MacKenzie Scott. Spelman plans to use the grant to expand financial aid and scholarship support so that students who need help paying their tuition can finish their education. The school also plans to invest in a state-of-the-art technology infrastructure, which would help get students ready for the digitally driven world when they graduate, among other things.
Scott, a billionaire who was previously married to Amazon cofounder Jeff Bezos, had also recently given $70 million to the United Negro College Fund. That gift will benefit 37 HBCUs, including Clark, Morehouse and Spelman and Interdenominational Theological Center in Atlanta and Paine College in Augusta.
