"The money will support nearly 10,000 students with "gap scholarships" if they are approaching graduation in good academic standing and have exhausted all other sources of financial support. The aim is to raise graduation rates at Clark Atlanta University, Morehouse College, Morris Brown College and Spelman College, according to the foundation's announcement. "These grants are a material investment in hope," said Fay Twersky, the foundation's president."
"Blank committed to giving at least half his wealth away by signing the Giving Pledge, and his family foundation has donated more than $1.5 billion to date, philanthropy evident in hospitals, schools, museums, stadiums and the arts. This donation is the foundation's biggest yet to HBCUs in Georgia, following such previous gifts as $10 million to Spelman College for an innovation lab and $6 million to refurbish athletic fields at Clark Atlanta, Albany State, Miles College and Savannah State."
The Arthur M. Blank Family Foundation provided a $50 million donation to Atlanta's historically Black colleges and universities to close financial aid gaps that could prevent degree completion. The funds will support nearly 10,000 students with "gap scholarships" if they are approaching graduation in good academic standing and have exhausted all other sources of financial support. The initiative aims to raise graduation rates at Clark Atlanta University, Morehouse College, Morris Brown College and Spelman College through a 10-year commitment. The gift follows federal moves to redirect nearly $500 million toward HBCUs and tribal colleges while cutting funding from some minority-serving institutions and diversity programs. Arthur Blank's net worth exceeds $11 billion, and his foundation has given more than $1.5 billion, including earlier HBCU gifts. Atlanta's HBCUs generate about $1 billion in annual economic impact and outperform other institutions.
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