NEW YORK (AP) — The HBCU Transformation Project, a coalition of 40 historically Black colleges and universities, on Wednesday announced a $124 million gift from philanthropic funders Blue Meridian Partners to increase enrollment, graduation rates and employment rates for the schools' graduates.
“This very significantly scaled grant from them signals to the philanthropic community that this is a really good investment to make,” he said of the Blue Meridian gift.
The donation will expand the work of the project, which has already received $75 million from Blue Meridian Partners since 2020.
Blue Meridian Partners also provided funds to those organizations to improve their capacity to support the schools.
HBCUs have received significantly less support from philanthropic foundations than predominantly white schools.
Persons:
Michael Lomax, ”, Lomax, HBCUs, George Floyd
Organizations:
Wednesday, Blue Meridian Partners, Blue Meridian, Thurgood Marshall College Fund, for Education Advancement, Department of Education, Ivy League, HBCUs, Associated, Lilly Endowment Inc, AP
Locations:
UNCF, Black