A philanthropic organization recently donated $100 million in funds to HBCUs amidst increased reports of a funding gap in the schools.
Announced on Thursday, the donation was made from the Lilly Endowment Inc. to the UNCF as part of the latter’s $1 billion capital campaign. With the campaign, the UNCF is dedicated to providing unrestricted funds and scholarships to the 37 HBCUs that are part of their organization.
Through the latest donation, an increase of approximately $2.7 million in funds will be given to each of the 37 learning institutions.
Marking the largest donation to the organization in its 80-year history, the $100 million increase in funds will go towards the organization’s aim to raise $370 million as part of a shared endowment.
The individual endowments will now double for each HBCU.
“They will become permanent assets of the institutions. Rising tides do lift all boats and UNCF is committed to making this a reality because 100 percent of this grant will be used to enhance the endowments at our 37 member colleges and universities,” said the president and CEO of UNCF, Dr. Michael L. Lomax per a statement. “We believe this is the most prudent way to use Lilly Endowment’s transformational support.”
Recently, the Biden-Harris administration has been vocal about the lack of funding for HBCUs.
Today brought historic news! $100 million grant from the Lilly Endowment Inc. for HBCUs! This $100 million grant is the largest unrestricted private grant UNCF has ever received. A huge thank you to the Lilly Endowment for their generous support! ????????????????#UNCFHistoricAnnouncement pic.twitter.com/ZELrUuXDsg
— UNCF (@UNCF) January 11, 2024
In a report released last September, the administration revealed that, throughout approximately three decades, HBCUs have been owed about $13 billion in funding.
Education Secretary Miguel Cardona and Agriculture Secretary Thomas Vilsack promptly sent letters to leaders of 16 states, urging them to invest more in HBCUs. Letters were sent to the governors of Florida, Georgia, Kentucky, Louisiana, Alabama, Arkansas, Missouri, Mississippi, Oklahoma, North Carolina, South Carolina, Tennesse, Virginia, West Virginia, Texas and Maryland.
Overall, only two states with HBCU land-grant institutions, Delaware and Ohio, have provided the learning institutions with adequate enough funds.
The disparities in funding for HBCUs are especially stark when compared to funding for Ivy League schools.
Per a new study conducted by research groups Candid and ABFE, while eight Ivy League schools were given $5.5 billion, approximately 99 HBCUs were given just $45 million. Overall, while similar learning institutes averaged yearly funds of $968,988, HBCUs averaged only around $620,073.
“Despite the achievements of HBCUs, philanthropy funds these higher education
institutions at significantly lower rates than comparable PWIs,” said ABFE CEO Susan Taylor Batten per the report. “This leaves HBCUs with less than adequate funding to support their operations, educational programs, infrastructure, and endowments.This report serves as a clarion call to our sector to right the systemic philanthropic funding disparity facing HBCUs and to adequately invest in the future of these institutions.”
