Four of Atlanta’s Historically Black Colleges & Universities are receiving a $50 million boost from the Arthur M. Blank Family Foundation.
It is the largest gift Blank has made to higher education in Atlanta. In November 2019, Arthur Blank made a $50 million gift to his alma mater, Babson College, based in Wellesley, Mass., to establish the Arthur M. Blank School for Entrepreneurial Leadership.
The 10-year scholarship investment will support students who need “gap” funding to graduate from Clark Atlanta University, Morehouse College, Spelman College and Morris Brown College.
Blank attended Sunday’s afternoon performance of Fiddler on the Roof at the Alliance Theatre, produced in partnership with the Atlanta Opera.
When asked about his gift to the four institutions, Blank said it is part of his long-standing sentiment: “Thirty percent of the world’s population are young people, but they represent 100 percent of our future.”
In a release from the foundation, Blank elaborated on the $50 million gift.
“Atlanta holds a special place in my heart and will always be an integral part of our family foundation’s giving,” said Blank, founder and chair of the Blank Foundation. “We know Spelman, Morris Brown, Morehouse and Clark Atlanta are vital to Atlanta’s future, and we are deeply committed to supporting the students who will carry that legacy forward.”
The $50 million will be divided among the four institutions as follows:
● Clark Atlanta University – $16.5 million
● Morehouse College – $16.5 million
● Spelman College – $16.5 million
● Morris Brown College – $500,000
“We recognize that these campuses, like many across the country, are home to generations of students whose promise inspires us,” Blank continued. “Our hope is that by helping more students earn their degrees, launch successful careers and become alumni who give back, we are investing in a cycle of opportunity that benefits young people and their families in Atlanta and communities across the nation for years to come.”
The foundation’s investment in gap scholarships is designed to help students overcome financial barriers so they can complete their education. Beginning in 2026, the program is projected to support nearly 10,000 students. The hope is that the grant will help increase graduation rates among Atlanta’s HBCUs and that it will serve as a model for other philanthropies to expand HBCU student success.
A unique aspect of the Blank grant is that the schools can decide how they want to disburse the funds for scholarships. It is expected that much of the funding will go towards students who are eligible for Pell Grants, which don’t have to be repaid. A Pell Grant is a need-based form of federal financial aid that provides money to low-income undergraduate students to help pay for college.
Pell-eligible students tend to face more unmet needs and therefore take out more loans, work more hours, face higher degrees of food and housing insecurity, and are at greater risk of forgoing higher education or leaving school without a degree.
“Even a small financial gap can be the difference between walking across the graduation stage or walking away,” said Fay Twersky, president of the Blank Foundation. “We are proud to stand with Atlanta’s HBCUs and help more students achieve their dreams. These grants are a material investment in hope.”
The release included quotes from the leaders of the four institutions.
F. DuBois Bowman, president of Morehouse College:
“This monumental investment will empower our students to remain focused on their academic studies and ensure that their talent, ambition, hard work, and integrity, not financial hardship, will determine their futures.”
Rosalind “Roz” Brewer, interim president of Spelman College:
“This investment affirms that every Spelman scholar deserves access to a world-class education. It expands our ability to bridge financial gaps and support students through to graduation.”
George T. French Jr., president of Clark Atlanta University:
“This transformative gift empowers Clark Atlanta students to succeed and lead globally. It provides the critical resources they need to graduate and prepare for leadership in the global marketplace.”
Kevin E. James, president of Morris Brown College:
“The Blank Foundation’s commitment provides critical support for Morris Brown students in their educational journeys. It removes economic barriers that have historically stood in the way of achieving their aspirations.”
The giving also reinforces the Blank Foundation’s investment in Atlanta’s Westside. When the Mercedes-Benz Stadium was being developed, Arthur Blank announced that his foundation would be investing millions of dollars to help improve the lives of residents living in the neighborhoods west of the stadium.
The four HBCUs are based in Atlanta’s westside. All of Atlanta’s HBCUs contribute an estimated $1 billion in annual economic impact to the region.
The scholarship initiative builds on the Blank Foundation’s longstanding commitment to HBCUs, including:
● $10 million to Spelman College for the Arthur M. Blank Innovation Lab
● $6 million for athletic field refurbishments at Clark Atlanta, Albany State, Miles College and Savannah State
● $3 million to Morris Brown College to digitize a one-year hospitality credential
● $400,000 to Morehouse College Golf Program with PGA TOUR Superstore
● New football helmets for Morehouse College and Clark Atlanta University student-athletes
What an incredible investment in the future of Atlanta and the next generation of leaders! It’s inspiring to see such meaningful support for HBCUs and the students who will carry their legacies forward. Kudos to Arthur Blank and the Blank Family Foundation for recognizing the transformative power of education and opportunity.