The nation’s oldest Black sorority, Alpha Kappa Alpha Sorority, closed out Black History Month with a bang, announcing its intentions to donate $10 million to 96 accredited institutions over the next four years through their AKA-HBCU Endowment Fund.
“As someone who went to an HBCU, I know the personal challenges these universities undergo. As a college president myself, I very much know that an endowment like this is needed for sustainability of an institution,” AKA President Dr. Glenda Glover who is also the president of Tennessee State University told the Chicago Sun-Times. “This is our way of closing out Black History Month.”
And the money isn’t just going to traditional HBCUs, Chicago State, a public university, has already secured some $100,000 as part of the initiative. That being said, it’s still a bet on Black move as the university has predominantly Black enrollment.
According to the Sun-Times, the donation definitely came at the right time, as the university has been recently struggling with low enrollment and layoffs and is currently dealing a budget battle over funding for Illinois state colleges and universities.
“The financial support needed to encourage and support college completion for Black scholars cannot be underestimated,” Chicago State President Zaldwaynaka “Z” Scott noted in a statement. “As all universities continue to face federal and state funding reductions, we need to remember the enormous value of historically and predominately Black higher learning institutions and ensure they receive equitable funding.”
“The Alpha Kappa Alpha-HBCU Endowment represents a generous and important financial gift and investment in our learning community. The majority of our scholars have financial needs that are not fully met by Federal and State financial grants. These funds provide us with an opportunity to close the gap,” Scott added.
The university received half of the $100,000 donation last Thursday. However, there is still no set date for the other half of the funding.