Stillman College Is Among HBCUs Sharing a $12 Million Endowment

The James and Judith K. Dimon Foundation will make a historic $12 million investment to support the long-term sustainability of Historically Black Colleges and Universities (HBCUs), UNCF announced with the launch of The Dimon Fund to Advance Economic Opportunity.

“By growing endowments, The Dimon Fund to Advance Economic Opportunity will help strengthen institutional balance sheets, expand capacity for long-range planning, and secure research, academic and infrastructural capital,” the press release said.

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Stillman College, along with 11 other UNCF member institutions, will receive $1 million in permanent endowment capital through The Dimon Fund to Advance Economic Opportunity. Other Alabama HBCUs that are included are Miles College, Oakwood University, and Tuskegee University.

“Our country’s future and strength depend on our young people. Our system of HBCUs continue to serve as the springboard to success for thousands of students in pursuit of the American Dream,” Jamie and Judy Dimon said in a joint statement. “As the children of first-generation high school and college graduates, we were imbued with a thirst for knowledge and a drive to succeed—principles that we have passed on to our own children and that we wish to share with all the students at the selected HBCUs.”

12 Selected UNCF Member Schools

Benedict College (Columbia, SC)

Dillard University (New Orleans, LA)

Edward Waters University (Jacksonville, FL)

Huston-Tillotson University (Austin, TX)

Jarvis Christian University (Hawkins, TX)

Johnson C. Smith University (Charlotte, NC)

Miles College (Fairfield, AL)

Oakwood University (Huntsville, AL)

Shaw University (Raleigh, NC)

Stillman College (Tuscaloosa, AL)

Tuskegee University (Tuskegee, AL)

Voorhees University (Denmark, SC)

According to the press release, “Established as The Dimon Fund to Advance Economic Opportunity within UNCF's $1.5B capital campaign, the gift will provide permanent endowment capital to 12 selected UNCF member schools as part of their $5 million institutional match within UNCF’s pooled endowment fund.”

Creating meaningful change requires more than opening doors to higher education. UNCF and The Dimon Foundation share a commitment to strengthening the institutions that help students succeed, recognizing that combating inequity requires durable colleges and universities equipped with the resources to expand opportunity.

“We are honored to help UNCF strengthen the long-term financial viability of these critical schools of higher learning,” said the Dimons.