Twelve historically Black colleges and universities will receive $1 million each to strengthen their permanent endowments through a $12 million gift from the foundation of JPMorgan Chase Chairman and CEO Jamie Dimon and his wife, Judy.
UNCF said the James and Judith K. Dimon Foundation gift will establish the Dimon Fund to Advance Economic Opportunity as part of the organization’s $1.5 billion capital campaign. The endowment funding is intended to help the schools strengthen their finances and plan for long-term academic, research and infrastructure needs.
The 12 institutions were selected based on their leadership and governance and their record of preparing teachers, nurses and other health care professionals, according to UNCF.
Recipients include Benedict College, Dillard University, Edward Waters University, Huston-Tillotson University, Jarvis Christian University, Johnson C. Smith University, Miles College, Oakwood University, Shaw University, Stillman College, Tuskegee University and Voorhees University.
Jamie Dimon previously served on UNCF’s board of directors.