Alabama State University Selected for Multi-Million HBCU Transformation Project
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Posted By: Kennedy Williams on March 25, 2022 Alabama State University is one of only 20 HBCUs selected for the first cohort of participants in a capacity-building initiative formed through the collaboration of the Thurgood Marshall College Fund (TMCF), the United Negro College Fund (UNCF) and the Partnership for Education Advancement. According to the news release dated March 16, 2022, the Transformation Project will “drive tangible, long-term progress across Historically Black Colleges and Universities (HBCUs) and impact the Black economy.” The HBCU Transformation Project is a historic collaboration between TMCF, UNCF and the Partnership for Education Advancement. “This first-of-its-kind collaboration aims to increase HBCU health and sustainability, improve student outcomes in retention and graduation rates, expand enrollment, and increase capacity building with faculty and staff.” ASU President, Dr. Quinton T. Ross, Jr., said the Transformation Project represents a tremendous opportunity for Alabama State University and its sister institutions. “We are proud to be selected to be part of this first cohort of HBCUs to benefit from this landmark initiative,” said Ross. “Alabama State University is blessed to be a part of this mutually beneficial partnership that will allow ASU and the other members of the inaugural cohort to advance in areas that are crucial to the survival of any university. We are excited about the opportunities that it has and will continue to afford us to intentionally impact student success. We are grateful to TMCF and UNCF for their historic support of the vision and mission of Historically Black Colleges and Universities. We also are thankful for the new alliance with the Partnership for Educational Advancement and Blue Meridian Partners.” $60 Million Investment According to the news release, the Transformation Project already has an initial commitment of $60 million from Blue Meridian Partners, “a pioneering philanthropic model for finding and funding scalable solutions to problems that limit economic and social mobility for America’s young people and families in poverty.” More from the Transformation Project News Release Although they represent just three percent of all Higher Education institutions, HBCUs produce nearly 20 percent of all African-American college graduates. HBCUs have produced more than 1 million associate, bachelor, master and doctoral degrees combined since 1984. HBCUs produce 40 percent of all Black engineers, 40 percent of Black Congress members, 50 percent of all Black lawyers, 50 percent of all Black doctors, and 80 percent of Black judges. These professions are critical for closing the wealth gap between black and white workers. While HBCUs overproduce relative to their better-resourced counterparts, they have remained underfunded. Historical underfunding has led to a myriad of financial issues for HBCUs, particularly much smaller endowments relative to their peers. “Our country has under-invested in HBCUs which have a proven track record for unlocking student potential, driving socioeconomic mobility, and serving as significant community assets,” said James Runcie, President, Partnership for Education Advancement. Recent data from McKinsey & Company show that investing in HBCUs would profoundly affect the US economy and help fill the social and economic gaps black Americans experience. HBCUs are uniquely positioned to foster such advancement given their assets, experience, and cultural and historical significance. “This collaboration offers a powerful opportunity to drive positive socioeconomic impact,” said Thurgood Marshall College Fund President & CEO Dr. Harry L. Williams. “We are proud to partner on this unique, capacity-focused strategy that brings together HBCU institutional relationships and the capacity building experience of TMCF, UNCF, and the Partnership for Education Advancement.” “UNCF and Thurgood Marshall College Fund have worked together for many years, and this collaboration is a continuation of our efforts to amplify support for the needs of HBCUs and the students they serve,” said UNCF President and CEO Dr. Michael L. Lomax. “Blue Meridian Partners support is very important and will significantly enhance the HBCU innovation and transformation work that UNCF’s Institute Capacity Building team has been pioneering for nearly two decades. This high-profile campaign will make the case to donors and to the government to elevate the profile of HBCUs and raise the support they deserve.” “HBCUs have long overperformed as engines of opportunity,” said Jim Shelton, Blue Meridian Partners chief investment and innovation officer. “With this investment, we aim to significantly strengthen these institutions and student success at scale, contribute to closing racial gaps in access to opportunity, and boost economic mobility and wealth-building among black people and communities now and for generations to come.” The initiative will be executed using a cohort model of select institutions. The inaugural participating HBCUs are listed below. Cohort/Participating HBCUs Alabama State University Benedict College Claflin University Clark Atlanta University Delaware State University Dillard University Florida A&M University Hampton University Huston-Tillotson University Johnson C. Smith University Morehouse College Norfolk State University North Carolina Agricultural & Technical State University South Carolina State University Spelman College Talladega College Tuskegee University University of Maryland Eastern Shore Wiley College Winston-Salem State University SOURCE: Alabama State Universty, Lois G. Russell If you enjoyed this article, Join HBCU CONNECT today for similar content and opportunities via email! |
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Kennedy Williams
From Loganville, GA Spelman College class of 2020 Member Since July 2016 |
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