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"It was like manna from heaven."
That's how Natalie Coles describes a $500,000 donation from Dominion Energy to Wilberforce University, a historically black college in Ohio.
The money went toward laptops and hot spots for students when the Covid-19 virus shut down Wilberforce's campus in 2020.
It's one of a growing number of donations to historically black colleges and universities from corporations and philanthropic foundations, the New York Times reports.
According to a May report released at the time, foundation support of HBCUs declined 30% between 2002 and 2019.
But HBCUs have been reporting a sustained increase lately in donations from corporations as well as philanthropic foundations.
Delaware State University received $20 million from MacKenzie Scott in 2020, part of the $560 million that the ex-wife of Jeff Bezos gave to HBCUs.
HBCUs often have smaller endowments and lower levels of public funding than other universities, but they have been using the language of business to argue they are a good investment, a Rutgers University professor who researches HBCUs tells the Times.
Another factor in the giving by corporations has been the influence of their Black employees.
Diageo has given almost $12 million to HBCUs through its employee resource group.
The money has gone toward scholarships at 29 schools to lessen the debt burden on Black graduates Read the Entire Article
Selected Grant News Headlines
A customized collection of grant news from foundations and the federal government from around the Web.
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The concept of "impact investing" has taken off in recent years, with more than $1 trillion in assets under management. But a new study out of Harvard Business School suggests that while impact...more
"All investments are impact investments," says Adam Spence, CEO of SVX, a non-profit financial services firm that has just launched Canada's first index designed to measure the impact of investments...more
Environmental, social, and governance (ESG) investing has gained popularity in recent years as clients seek to align their investments with their values and promote positive change in the...more
Foundation: Silicon Valley Community Foundation, California Endowment
In 2024, Los Angeles will host the Mission Investors Exchange 2024 National Conference, an annual conference that brings together more than 750 philanthropy and impact investing leaders from across...more
Foundation: California Community Foundation, California Endowment
Ava DuVernay financed her latest film with money from the Giving Pledgean initiative of the California Endowment, the largest US foundation to commit its entire $4 billion portfolio to social and...more
In what may be a first for a major US city, Los Angeles has been chosen as the site of the 2024 Mission Investors Exchange National Conference, a conference that will focus on "investing in social...more
Foundation: Marguerite Casey Foundation, Marguerite Casey Foundation, Rockefeller Philanthropy Advisors, Skoll Foundation, Target Foundation, Ford Foundation, Philadelphia Foundation, Rockefeller Foundation
"The US creative economy was most recently valued at over $1 trillion by the National Endowment for the Arts," per a press release, "even before considering film, fashion, video games, beauty, food,...more
"Having a purposeful job actually does transform someone's life," says Edwin Walsh, who runs a social enterprise in Australia called Assembled Threads. "You actually are moving someone from...more
A new scholarship fund in Canada will help high school students who want to further their education, the CBC reports. The Westlock Community Foundation in Alberta received a $26,800 donation from...more
Social Entrepreneurship
Spotlight
Calgary Social Enterprise Offers High-Tech Services by People with Autism
Meticulon, a project of Autism Calgary Association in partnership with the federal government and the Sinneave Family Foundation, operates as a social enterprise that renders high-tech services provided by people with autism, leveraging their natural abilities at requiring attention to detail, repetition, and sequencing.
