JACKSONVILLE, Fla. — The James and Judith K. Dimon Foundation has donated $12 million to UNCF to support endowments at historically Black colleges and universities.
The contribution establishes The Dimon Fund to Advance Economic Opportunity as part of UNCF’s $1.5 billion capital campaign. The fund will deliver $1 million in permanent endowment capital to each of 12 selected UNCF member institutions to strengthen long-term sustainability and expand student training in education and health care fields.
The $1 million grants will count toward a $5 million institutional match within UNCF’s pooled endowment fund. UNCF selected the 12 recipient schools based on leadership, governance and established programs that prepare educators, nurses and other health care workers.
A number of the designated institutions maintain cross-institutional collaborations, including credit-transfer partnerships in health-related disciplines to accelerate students’ career entry.
According to UNCF, growing institutional endowments will help strengthen school balance sheets, support long-range financial planning, and secure capital for academic, research, and physical infrastructure.
The 12 recipient schools are Benedict College in Columbia, S.C.; Dillard University in New Orleans, La.; Edward Waters University in Jacksonville, Fla.; Huston-Tillotson University in Austin, Texas; Jarvis Christian University in Hawkins, Texas; Johnson C. Smith University in Charlotte, N.C.; Miles College in Fairfield, Ala.; Oakwood University in Huntsville, Ala.; Shaw University in Raleigh, N.C.; Stillman College in Tuscaloosa, Ala.; Tuskegee University in Tuskegee, Ala.; and Voorhees University in Denmark, S.C.
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