Spelman College, the oldest historically Black college for women in the nation, received a monumental donation of $100 million from businesswoman and philanthropist Ronda Stryker and her husband, William Johnston, the chairman of Greenleaf Trust.
The generous contribution was unveiled during a special address to the student body by Board Chair Lovette Russell, as per to USA Today.
Russell expressed her personal connection to the transformative power of Spelman, stating, "As a student, I experienced the power of this historic institution and how it transforms the futures of talented young women." She emphasized that the substantial donation is a significant stride towards breaking down financial barriers and facilitating the realization of dreams for countless bright young women aspiring to attend Spelman.
The donation, announced by Stryker and Johnston, will be used for a variety of purposes. A large sum of money, $75 million, will be used to create permanent scholarships, while the rest of the funds will be distributed for different projects, such as the creation of an academic program centered around public policy and democracy. The injection of funds will also help to tackle the ongoing concerns surrounding student housing, which has been a pressing issue for the Spelman community.
Trustee Lovette Russell remarked on the transformative nature of the donation, stating, "It's a transformational gift to any institution, period." Historically Black Colleges and Universities (HBCUs) have often grappled with smaller endowments compared to other institutions, but recent years have witnessed a surge in donations, spurred in part by the racial justice movements following the tragic killing of George Floyd.
Spelman, with approximately 2,400 students, has been relatively well-funded, reporting an endowment of $571 million in 2021. President Helene Gayle highlighted the broader significance of such contributions, noting that it underscores the value of investing in HBCUs that have been historically underinvested in, according to Fortune.
Spelman Trustee Ronda Stryker
Ronda Stryker, a Spelman trustee since 1997, has a history of philanthropy towards the institution. In 2018, she and Johnston donated $30 million to Spelman. Their commitment to education extends beyond Spelman, including a $100 million donation in 2011 to establish the Homer Stryker medical school at Western Michigan University.
This momentous donation follows closely on the heels of another significant contribution to HBCUs. The United Negro College Fund recently announced a $100 million donation from the Lilly Endowment Inc., aiming to bolster the long-term financial stability of 37 historically Black colleges and universities, including Spelman.
Notable philanthropic gestures to HBCUs in recent years include MacKenzie Scott's $560 million donation in 2020 to 22 Black colleges, the UNCF, and the Thurgood Marshall College Fund. Reed Hastings, the founder of Netflix, and his wife, Patty Quillin, distributed $120 million among the United Negro College Fund, Spelman, and Morehouse College. Former New York mayor and entrepreneur Michael Bloomberg pledged $100 million for student aid at the four historically Black medical schools.
Expressing her gratitude, President Dr. Helene Gayle affirmed that the donation represents a critical step in Spelman's mission to eliminate financial barriers, stating, "There's no doubt that Spelman College is better because of her [Ronda Stryker]." The college community, both current students and alumni, took to social media to celebrate this historic and transformative moment, expressing excitement and gratitude for the generous contribution, NBC News reported.
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