Atlanta’s private women’s institution, Spelman College, has gotten a whopping donation of $100 million, as a report by CNN has emphatically revealed.
The donation to Spelman College becomes the biggest that a Historically Black College or University (HBCU), has ever been given, according to the school.
It is reported that the history-making gesture comes from longtime Spelman trustee Ronda Stryker and her husband, William Johnston, the chairman of the wealth management fund Greenleaf Trust.
The figure ‘100’ adequately fits the occasion of the donation as Spelman College marks 100 years since its naming in 1924.
Speaking about the remarkable gesture in a statement, Spelman President Dr. Helene Gayle indicated:
“We are invigorated and inspired by this incredible act of generosity. This gift is a critical step in our school’s mission to eliminate financial barriers to starting and finishing a Spelman education.”
According to the school, $25 million of the money will go into developing an academic focus on public policy and democracy, improving student housing and providing flexible funding to meet critical strategic needs.
The other $75 million will be dedicated towards endowed scholarships, which will help the college continue to attract the best and brightest students while removing financial hurdles that may prevent prospective Spelmanites from enrolling.