Press "Enter" to skip to content

Posts tagged as “Morehouse College”

Ralph Lauren Corporate Foundation Launches $2M Grant to HBCU Scholarship Program

Ralph Lauren Corporate Foundation Launches $2M Grant to HBCU Scholarship Program

By goodblacknews on January 2, 2022

The Ralph Lauren Corporate Foundation announced a $2 million commitment to support scholarships for Black, African and African American students, including those at Morehouse College, Spelman College and 10 additional historically Black colleges and universities (HBCUs) through the United Negro College Fund (UNCF).

These scholarships are part of Ralph Lauren Corporation’s previously announced commitments to address systemic racism and racial injustice by creating more pathways for equity within the fashion industry and beyond, beginning with education.

“Students represent the best of the human spirit – passion, curiosity and boundless dreams,” said Ralph Lauren, Executive Chairman and Chief Creative Officer of Ralph Lauren Corporation. “When all students have an equal chance to succeed, their dreams become realities and inspire us all.”

“The Ralph Lauren Corporate Foundation works to make the dream of a better life a reality by championing equity and investing in historically underserved communities,” said Roseann Lynch, Ralph Lauren Corporation’s Chief People Officer and Head of the Ralph Lauren Corporate Foundation. “Our hope is that these scholarships will deepen pathways of access to education for our future leaders and help enable them to pursue their own dreams.”

“Morehouse has a common cause with partners like the Ralph Lauren Corporate Foundation who believe that equity begins with education,” said David A. Thomas, Ph.D., Morehouse College president. “Through educational investments, which help elevate the creativity and professional competence of talented students of color, we today empower the innovators who will develop the fashions, products and services the world will demand tomorrow.”

“This new scholarship will allow high-achieving students in need of financial support to graduate with less debt, ready to step into their careers,” said Mary Schmidt Campbell, Ph.D., president of Spelman College. “We’re extremely proud to join forces with the Ralph Lauren Corporate Foundation in its effort to increase equity and access in the fashion industry.”

Designer Debra L. Mars Offers HBCU Santas and Black Nutcrackers for the Holidays

Designer Debra L. Mars Offers HBCU Santas and Black Nutcrackers for the Holidays

By goodblacknews on November 26, 2021

Designer and long-time Black Santa collector Debra L. Mars has added her own contribution to the canon by partnering with several HBCUs to offer Black Santas this holiday season.

The Inglewood, CA resident and entrepreneur has created Black Santas repping Howard University, Morehouse College, Grambling and FAMU, in addition to offering Black nutcrackers, Santa-themed bracelets and other holiday swag through her etsy.com store, Restore The Hope.

Mars, who has worked in marketing and supplier diversity for Frito-Lay, began collecting Black Santas over 35 years ago.

“I traveled the country and would pick them up whenever I saw them, especially in the Southern states,” Mars said. “My fascination came about when I reflected on how my mother only had one childhood toy; it was a white doll that looked nothing like her—that was triggering for me.”

Debra L. Mars (photo courtesy Debra L. Mars)

Designing and selling Black Santas is about more than the bottom line for Mars.”[It’s] more about storytelling than the product itself. They are designed as triggers to hopefully remind people what a precious gift they are to this world,” Mars said.

“The Santa to me is symbolic of spiritual gifts and talents rather than what’s in the box under the tree. It saddens me that so many people feel worthless and undervalued. That is why our branding tagline for the Black Santa Cause Collective is ‘unwrap your gifts’.”

Mars also has a goal to align and partner with other creators to tell the Santa “Cause” story.

“I am most proud of a woman I found who is exclusively making Black Santa leather bracelets for our line,” Mars stated. “Each one is hand crafted and features a lighter skinned and darker skinned Black Santa in the design to communicate the variety of melanin in the African American race. This alliance with her has created a stream of supplemental income for her and more importantly, a clear validation of her gifts and talents.”

Even though she’s had to work through several obstacles and supply chain challenges, Mars feels she is finally dwelling in her passion.

“This dream was planted in me over 25 years ago to create this line. This has been a master class on perseverance. Having the opportunity to represent our sacred jewels: The HBCUs is an honor that I do not take lightly,” Mars said.

“When I did the research on the game changers that attended these iconic institutions from Thurgood Marshall to Kamala Harris to Spike Lee and Samuel L. Jackson, I am so proud and a little remorseful that I did not attend a HBCU.”

Michael Jordan Donates $1M to Boost Journalism and Sports-Related Studies at Morehouse College

Michael Jordan Donates $1M to Boost Journalism and Sports-Related Studies at Morehouse College

By goodblacknews on May 30, 2021

NBA champion and living legend Michael Jordan, along with Nike‘s Jordan Brand, is giving $1 million to Morehouse College to boost journalism and sports-related studies, according to espn.com.

The gift announced Friday was originally launched with a donation from director Spike Lee. The donation will help fund scholarships, technology and educational programming for students in those fields.

“These grants will be well-spent,” says Lee, film director, producer and alumni of Morehouse. “There’s going to be a rich legacy of storytellers who will be supported by these programs. Many people are influenced to think a certain way about Black folks based on what they see on television and in Hollywood. We’ve got to tell our story.”

The donation is part of a larger philanthropic donation by Jordan and Jordan Brand called the Black Community Commitment, which has directed donations to the Smithsonian Institution’s National Museum of African American History and Culture and the Ida B. Wells Society, among other organizations.

“Morehouse is grateful to Michael Jordan and Jordan Brand for an investment in the education of talented men of color who will ensure there is equity, balance, and truth in the way sports stories are framed and the way the Black experience is contextualized within American history,” said Monique Dozier, vice president for institutional advancement at Morehouse.

“Education is crucial for understanding the Black experience today,” Jordan said. “We want to help people understand the truth of our past and help tell the stories that will shape our future.”

Read more: https://www.washingtonpost.com/sports/michael-jordan-donates-1m-to-morehouse-journalism-sports/2021/05/28/a6035cb8-bff3-11eb-922a-c40c9774bc48_story.html?outputType=amp

Morehouse College and Spelman College Co-Create Center for Black Entrepreneurship with $10 Million in Funding from Bank of America

Morehouse College and Spelman College Co-Create Center for Black Entrepreneurship with $10 Million in Funding from Bank of America

By goodblacknews on March 20, 2021

According to jbhe.com, the Black Economic Alliance Foundation, HBCUs Spelman College, Morehouse College and Bank of America have announced plans to develop the Center for Black Entrepreneurship, the first-ever academic center to assemble, educate, and empower a new class of Black entrepreneurial talent.

The Center for Black Entrepreneurship is powered by $10 million in funding from Bank of America and will be co-located on the Spelman and Morehouse campuses. The Center will support the development of an academic curriculum, faculty recruitment, co-curricular programming, and the development of new physical space.

Mary Schmidt Campbell, president of Spelman and part of the Black Economic Alliance said “our students will learn to build strong businesses and create wealth for their families and their communities, all while obtaining a first-rate liberal arts education. We’ll hire top-tier faculty, support our students financially, continue to grow co-curricular programs that offer real-world experience, and offer courses online for those adults who are already in the workplace.”

In addition, the CBE will allow current student-run initiatives, like Spelman’s Entrepreneurship Club and the Black Venture Capital Consortium, as well as popular programs like Spelpreneur, to create a stronger network of young leaders.

“As an alumna of Spelman College, I know firsthand the lasting and meaningful impact the institution can make on its students and surrounding community,” said Cynthia Bowman, chief diversity and inclusion and talent acquisition officer for Bank of America. “This collective partnership will work to eliminate existing barriers by providing unique opportunities to Black entrepreneurs, ultimately fueling Black innovation and economic mobility within the next generation.”

The CBE seeks to eliminate the access barriers among Black entrepreneurs, professional investors, and business builders by leveraging education, mentorship, access to capital and opportunity.

Read more: https://www.jbhe.com/2021/03/the-center-for-black-entrepreneurship-established-at-morehouse-and-spelman-colleges-in-atlanta/

https://www.spelman.edu/about-us/news-and-events/news-releases/2021/02/22/bank-of-america-supports-creation-of-new-center-for-black-entrepreneurship-at-spelman-college-and-morehouse-college

[Photo credit: spelman.edu]

Robert F. Smith to Donate $50 Million to Support STEM Students at HBCUs Via the Student Freedom Initiative

Robert F. Smith to Donate $50 Million to Support STEM Students at HBCUs Via the Student Freedom Initiative

By goodblacknews on October 22, 2020

The Student Freedom Initiative announced today a $50 million personal gift from Robert F. Smith, philanthropist and Founder, Chairman and CEO of Vista Equity Partners. This gift matches the initial funding of $50 Million provided by the Fund II Foundation, announced in June 2020.

Student Freedom Initiative is a public charity whose mission is to serve as a catalyst for freedom in professional and life choices for students attending Minority Serving Institutions.

The Initiative will offer a student and family centric income-contingent payment alternative to the crushing burden of high cost, fixed payment debt in the context of our commitment to a program that provides holistic support to students and capacity building support for participating institutions. Equally important, the Initiative offers paid internships in a student’s area of study, tutoring/mentorships, and targeted HBCU capacity building.

“Each year, thousands of black graduates from HBCUs across America enter the workforce with a crushing debt burden that stunts future decisions and prevents opportunities and choices,” said Robert F. Smith, who is also the Board Chair of the Student Freedom Initiative.

“A college education should empower and prepare our next generation for a limitless future. The Student Freedom Initiative is a culmination of work that followed my gift to the Morehouse College Class of 2019. The $1.6 trillion student debt crisis in our country is a human rights crisis. The Initiative is purposefully built to redress historic economic and social inequities and to offer a sustainable, scalable platform to invest in the education of future Black leaders. I urge others to join this important cause so that together we can liberate the human spirit.”

With 65% of Black wealth consumed by the intolerable burden of student debt, the Initiative was initially established to create onramps to jobs of the 21st century. Following Smith’s historic gift to eliminate the student debt of all 2019 Morehouse College graduates and their parents, the team identified the systemic problems with the current student loan structure.

Netflix Moves $100 Million to Black-Led Banks to Help Build Economic Opportunity in Black Communities

Netflix Moves $100 Million to Black-Led Banks to Help Build Economic Opportunity in Black Communities

By goodblacknews on June 30, 2020

Netflix announced today it is shifting $100 million of its cash to financial institutions that serve the Black community to draw attention to the racial wealth gap in America.

The streaming giant has $5.1 billion in cash assets, and 2% of that will be moved to Black-led banks.

In its public statement, the company said it will first inject $25 million into a fund managed by the Local Initiatives Support Corporation, a nonprofit that develops underinvested communities. Another $10 million will go to Hope Credit Union, which provides capital for the nation’s most impoverished regions in the Deep South.

To quote from Netflix’s statement:

At Netflix, we know great stories can create empathy and understanding. Stories like Ava DuVernay’s 13TH and Explained’s Racial Wealth Gap show how systemic racism in America has sustained a centuries-long financial gap between Black and White families. As part of our commitment to racial equity, we are turning understanding into action. Going forward, Netflix is going to allocate two percent of our cash holdings – initially up to $100 million – into financial institutions and organizations that directly support Black communities in the U.S.

According to the FDIC, banks that are Black-owned or led represent a mere one percent of America’s commercial banking assets. This is one factor contributing to 19 percent of Black families having either negative wealth or no assets at all – more than double the rate of White households – according to the U.S. Federal Reserve.

Black banks have been fighting to better their communities for decades but they’re disadvantaged by their lack of access to capital. The major banks, where big multinational companies including ours keep most of their money, are also focusing more on improving equity, but not at the grassroots level these Black-led institutions can and do. So we wanted to redirect some of our cash specifically toward these communities, and hope to inspire other large companies to do the same with their cash deposits.

We plan to redirect even more of our cash to Black-led and focused institutions as we grow, and we hope others will do the same. For example, if every company in the S&P 500 allocated a modest amount of their cash holdings into efforts like the Black Economic Development Initiative, each one percent of their cash would represent $20-$30 billion of new capital. And that would help build stronger communities, offering more Black families pathways to prosperity and a more equitable future.

Aaron Mitchell, Director, Talent Acquisition

Shannon Alwyn, Director, Treasury

The news was welcomed by billionaire Robert F. Smith, who made headlines last year when he offered to pay off the debts of Morehouse College‘s graduating class. He recently expanded on that pledge by creating the Student Freedom Initiative to help students at HBCUs get affordable, low-interest loans for to fund higher learning.

“This is how we turn outrage into action,” Smith tweeted Tuesday. “$100m into Black-owned banks is a giant step forward. If major U.S. companies invest 2% of profits in left-behind communities, we can close the racial wealth gap in 10 years.”

Recently, Netflix’s CEO Reed Hastings and his wife Patty Quillin personally pledged to donate $120 Million to HBCUs.

Billionaire Robert F. Smith Launches Student Freedom Initiative to Ease Student Debt at Historically Black Colleges

Billionaire Robert F. Smith Launches Student Freedom Initiative to Ease Student Debt at Historically Black Colleges

By goodblacknews on June 24, 2020

Robert F. Smith—the billionaire who pledged during a commencement speech last year to pay off the student debt of the Morehouse College class of 2019—is, according to time.com, launching a new initiative to help ease the burden of student loans at all HBCUs (Historically Black Colleges and Universities).

The Student Freedom Initiative, a nonprofit organization, will launch in 2021 at up to 11 HBCUS and will offer juniors and seniors who are science, technology, engineering and mathematics (STEM) majors a flexible, lower-risk alternative to high-interest private student loans.

The list of HBCUs participating in the initial rollout has not been finalized. SFI will target the disproportionate loan burden on Black students while creating more choices for students whose career options or further educational opportunities might be limited by heavy student debt.

The aims of the Initiative is to help 5,000 new students each year via a $50 million grant from Fund II Foundation, a charitable organization of which Smith is founding director and president.

Fund II has set a goal of raising at least $500 million by October to make the program “self-sustaining” through investments and graduates’ income-based repayments. Fund II will partner with Michael Lomax, CEO of the United Negro College Fund; Henry Louis Gates Jr., director of the Hutchins Center for African and African-American Research at Harvard; the Jain Family Institute and the Education Finance Institute.

To quote from Time:

“You think about these students graduating and then plowing so much of their wealth opportunity into supporting this student debt, that’s a travesty in and of itself,” Smith, chairman and CEO of Vista Equity Partners, said Tuesday during a TIME100 Talks discussion with Editor-in-Chief Edward Felsenthal.

[To see Robert Smith speak on the need for this initiative, watch here]

Smith—the wealthiest Black man in the United States, according to Forbes—donated $34 million last year that covered the student debt of about 400 Morehouse graduates, including the educational debt incurred by their families. He says his new initiative is an effort to create a more sustainable model for thousands more students.

“I think it’s important that we do these things at scale and en masse because that’s how you lift up entire communities,” he says. “Of course, we all like the great one story, but I want thousands of these stories. And I want thousands of Robert Smiths out there who are actually looking to do some things in fields that are exciting to them and are giving back.”

Read more: https://time.com/5857186/robert-f-smith-historically-black-colleges/

Oprah Winfrey Donates $13 million to Morehouse College

By goodblacknews on October 8, 2019
Oprah Winfrey at Morehouse (photo via twitter.com)

According to cnn.com, Oprah Winfrey now has the largest endowment ever at all-male HBCU Morehouse College in Atlanta after donating $13 million.

Winfrey visited Morehouse on Monday for the 30th anniversary of the Oprah Winfrey Scholars Program, the release said. The program started in 1989 and the fund stands at $12 million. Monday’s donation of $13 million pushed her total investment to $25 million.

“Seeing you young Oprah Winfrey scholars here today has moved me deeply,” Winfrey said Monday before announcing her donation. “I am so proud of you, I’m proud of everybody in attendance at this school who is seeking to know more clearly who you are, the value you hold and how you will share that value with the rest of the world.”

Winfrey’s donation comes after billionaire Robert Smith promised to pay off the student loan debt of the 2019 Morehouse graduates in May. Smith donated $34 million to the school last month, making good on his promise.

“I’m grateful to Oprah Winfrey for her generosity,” said Morehouse President David A. Thomas. “I am also feeling hopeful for Morehouse and what it has garnered in terms of philanthropic support with gifts like Oprah’s and Robert Smith’s. I am hopeful that this will also get others to step up with their support of Morehouse, but even more broadly, historically black colleges and universities.”

To read more: https://www.cnn.com/2019/10/07/us/oprah-winfrey-morehouse-donation-trnd/index.html

LET’S TALK ABOUT IT: Could African American Philanthropy Help Solve the Black Student Debt Crisis?

By goodblacknews on July 13, 2019
Billionaires Robert Smith, Oprah Winfrey, top; Beyonce and Jay Z, bottom (photos via Creative Commons)

EDITOR’S NOTE: For some time now, we here at GBN have struggled with the fact that while our operating directive is always to present positive stories, there are so many issues that affect our communities that don’t fit that philosophy, but would love to find a way to present that doesn’t stray from our core mission. It recently dawned on us that the steps we as individuals and societies take to solve problems, large or small, could perhaps be our way in. Solutions can only come first through awareness and acknowledgement of the issue, learning about it, discussing it, then figuring out ways to act that may help solve it.

In that spirit, we introduce “Let’s Talk About It” – a new GBN feature we will occasionally present about problems that need ideas for solutions. Our first entry is a share from, appropriately enough, The Conversation, a website GBN has partnered with to bring to you exactly this type of content.

First up: How can we as a community begin to solve the black student debt crisis? Should we follow the lead of billionaire Robert F. Smith, who single-handedly relieved the debt of Morehouse College’s graduating class of 2019, and task the wealthiest among us to pitch in and help out? Or are there other ways for us to alleviate this issue? Read below, and if you’d like, let’s discuss!

-Lori Lakin Hutcherson, GBN Founder and Editor-in-Chief

From The Conversation:

by Mako Fitts Ward, professor at Arizona State University 

When billionaire Robert F. Smith decided to pay off the student loans of the graduating class of 2019 at Morehouse College, he suggested that others follow his lead.

“Let’s make sure every class has the same opportunity going forward, because we are enough to take care of our own community,” Smith declared in his commencement speech.

But is there even enough black private wealth in the United States to pay off all black student loan debt?

As a scholar in social transformation and African American studies, I’m intrigued by this question. It provides an opportunity to examine black wealth, higher education and the possibilities for alleviating debt, which in turn opens the door to new economic opportunities.

Black celebrities give to higher education

Smith’s gift is estimated to be worth US$40 million and will benefit 396 students.

That’s a lot of money, and he’s done it before. Before his gift to Morehouse, Smith donated $50 million to Cornell University, his alma mater, in part to support African American and female students at Cornell University’s College of Engineering.

Other black celebrities have also stepped up to fund education. Powerhouse couple Beyonce and Jay Z gave more than $1 million in scholarships to students who lived in cities they were touring in 2018.

Rapper Nicki Minaj gave 37 “Student of the Game” scholarships. LeBron James, through his foundation, promised to pay for 2,300 students to attend the University of Akron – at an estimated price tag of $100 million. Oprah Winfrey has donated more than $400 million to educational causes.

But with just five black billionaires in the United States – Smith, Winfrey, David Steward, Michael Jordan and Jay Z – monumental gifts like the one that Smith made will likely be few and far between.

Is Smith’s claim that “we are enough to take care of our own community” true of all the black wealth in the U.S.?

Physicist Walter E. Massey to Receive Vannevar Bush Award from National Science Foundation For Contributions to Public Service and Technology

By goodblacknews on May 7, 2019
Walter E. Massey (Credit: Bree Witt/School of the Art Institute of Chicago)

The National Science Board (NSB) recently announced that Dr. Walter E. Massey will receive the prestigious Vannevar Bush Award. The award honors science and technology leaders who have made substantial contributions to the welfare of the nation through public service in science, technology, and public policy.

Dr. Massey will receive the Vannevar Bush Award on May 14 at the National Science Foundation Annual Awards Ceremony held in Washington, D.C.

Dr. Massey, chairman of Giant Magellan Telescope Organization and president emeritus of the School of the Art Institute of Chicago and Morehouse College, is being recognized for his exceptional lifelong leadership in science and technology. The range of institutions he has led with distinction is astonishing — from physics, to public policy, to public and private boards, to college president.

Walter Massey’s breadth of contributions and remarkable leadership in science, technology, and education are unparalleled,” said Kent Fuchs, chair of the NSB’s Committee on Honorary Awards. “Walter has dedicated his life to serving our citizens. Through his training in mathematics and physics, and his determined and extraordinary leadership, he has narrowed the gap between science and society with an immeasurable and lasting impact on our nation.”

Dr. Massey is a graduate of Morehouse College where he studied theoretical physics. He holds a Ph.D. in physics from Washington University in St. Louis, Missouri.

Two overarching principles have inspired Massey’s notable career — that science and technology are necessary to sustain the nation’s quality of life and the standard of living of its citizens; and that the general public’s understanding of science and technology is a critical component of a democratic society.

Guided by these principles for more than half a century, Massey has worked to strengthen applied research capacity and science education in the United States and to increase the representation of minorities and women in science and technology.