Home / Education / Foundation Gifts $12M to HBCUs for Endowments
Foundation Gifts $12M to HBCUs for Endowments
23 Aug
Summary
- James and Judith K. Dimon Foundation donated $12 million to UNCF.
- The funds establish The Dimon Fund to Advance Economic Opportunity.
- Twelve selected UNCF member institutions will receive $1 million each.
The James and Judith K. Dimon Foundation has made a substantial $12 million donation to UNCF, aimed at strengthening endowments at historically Black colleges and universities (HBCUs).
This contribution establishes The Dimon Fund to Advance Economic Opportunity, a key initiative within UNCF's broader capital campaign. The fund will allocate $1 million in permanent endowment capital to twelve designated UNCF member institutions.
These grants are intended to fortify the financial sustainability of the recipient schools and expand educational programs, particularly in the fields of education and health care. The selection of the twelve institutions was based on their leadership, governance, and existing programs.
Several recipient schools engage in collaborative efforts, including credit-transfer partnerships in health disciplines. This initiative supports UNCF's goal of enhancing institutional balance sheets and securing capital for academic and infrastructural development.
