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.
Michael Lomax, president and CEO of UNCF, which is acting as an intermediary overseeing the funding, called the donation a vote of confidence in the coalition, which includes public and private schools.
“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.
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