On Wednesday, the HBCU Transformation Project announced that Blue Meridian Partners was gifting $124 million “to increase enrollment, graduation rates, and employment rates for the schools’ graduates,” the Associated Press reports.
But what exactly is the HBCU Transformation Project (the Project)? According to their website, Black higher education leaders, being cognizant of HBCUs achieving greatness despite historic years of underinvestment, developed this initiative to push “transformation efforts underway at HBCUs while jumpstarting strategic efforts at others. All to expedite improvements each institution prioritizes at this pivotal point in their and the nation’s history.”
The HBCU Transformation Project was launched in 2022, and includes both private and public HBCUs, currently numbering 40, although more campuses are expected to join the Project in the coming year. It is a collaboration of the following nonprofits: The United Negro College Fund (UNCF), Thurgood Marshall College Fund (TMCF), and Partnership for Education Advancement (Ed Advancement).
This is an especially well-timed gift, given the predictions of increased enrollment at HBCUs following the Supreme Court’s decision striking down affirmative action, and brings the total investment from $60 million to $184 million. The majority of the $124 million from Blue Meridian “will be invested in high-return initiatives at individual HBCUs, such as building technology infrastructure, developing and testing transformative curricular and administrative strategies, and piloting platforms to work together on staff development, shared procurement, and related approaches,” per a UNCF press release.
In addition, assistance will also be provided to UNCF, TMCF, and Ed Advancement in order “to provide leadership for The HBCU Transformation Project, expand their capacity to coordinate multi-campus networks, and lead a major capital campaign to help close longstanding funding gaps between HBCUs and other higher education institutions,” continued the release.
Blue Meridian made the decision to make the $124 million investment after reports from the Project showed positive results from the initial phase. Even during the peak of the COVID-19 global pandemic, enrollment at HBCUs increased as well as several HBCUs in the Project reporting numbers, which showed historic amounts of growth.
As one example, South Carolina State University has seen a 174% increase in applications with a corresponding 54% increase in enrollment numbers because of the advancements they’ve been able to make in their technology on campus, which was a direct result of the Project.
UNCF president and CEO Michael Lomax said, “This very significantly scaled grant from them signals to the philanthropic community that this is a really good investment to make.” “As the new academic year begins, we welcome returning students and extend a special greeting to members of the class of 2027,” Lomax said.
“While these extraordinary students will bring positive changes to their families, communities and the nation, HBCU leaders are also focused on the classes of 2037 and 2047, and we recognize that our institutions must evolve to give future generations the educational experiences they need. The Transformation Project will ensure that HBCUs continue to be drivers of economic mobility and champions for racial equity long into the future,” says Lomax.
“For more than a century, HBCUs have been vital engines for economic and social mobility in the United States. That essential fact, coupled with the HBCU Transformation Project’s record of achievement, justifies additional support. With this latest investment, we hope to accelerate the pace of change and strengthen these vital institutions and the students they serve at scale,” said President and Chief Investment Impact Officer of Blue Meridian Partners Jim Shelton.
James Runcie, Co-Founder and CEO of Ed Advancement said, “The HBCU Transformation Project will deliver permanent, sustainable, and systemic improvement: more students, more graduates, bigger endowments, and new opportunities to advance economic mobility. HBCUs will be at the leading edge of transformation and infrastructure enhancements that will impact student outcomes well into the future.”
“HBCUs have always been an express train to the Black middle class, and to keep that going, we need to accelerate our collaborative work and identify solutions that help maximize our students’ path to success. We’re thrilled that major donors and philanthropies are showing a new interest in HBCUs, and we welcome their support. It’s long past time for HBCUs to get the resources they deserve,” added TMCF President & CEO Dr. Harry L. Williams.