Stillman College will receive portion of $100M UNCF grant

Jasmine Hollie, Tuscaloosa News
·2 min read

Stillman College will receive a portion of a $100 million grant, which Stillman leaders say will have a significantly positive impact on the institution's endowment growth.

The $100 million unrestricted grant from the United Negro College Fund was announced earlier this month at Clark Atlanta University. The grant is a part of a $1 billion capital campaign spearheaded by the UNCF, courtesy of Lilly Endowment Inc.

NICK SABAN COMMEMORATIVE BOOK: Relive Nick Saban’s epic Alabama football coaching career with our special book! Preorder here.

The campaign includes five components:

  • Student scholarships

  • Unrestricted funds to enhance the endowments for historically Black colleges and universities (HBCUs)

  • Capacity-building programs for member HBCUs (such as technology, training and research)

  • Cash reserves and endowed funds for UNCF

  • Support for UNCF’s annual campaign.

A portion of the $100 million grant will go toward building a pooled endowment fund that will increase the endowments at UNCF’s 37 member institutions by $10 million each.

“Lilly Endowment’s unrestricted grant will be used as UNCF’s initial investment toward the establishment of an HBCU pooled endowment fund of $370 million,” said Michael L. Lomax, president and CEO of the United Negro College Fund.

Yolanda W. Page, new president of Stillman College, sits for an interview with members of the new media Friday, July 21, 2023.
Yolanda W. Page, new president of Stillman College, sits for an interview with members of the new media Friday, July 21, 2023.

Stillman College President Yolanda Page, delivered remarks on behalf of the 37-member institutions of UNCF.

Page said the gift will have a “lasting impact” on the financial outlook for each member institution.

“For Stillman, in particular, this effort will significantly strengthen our endowment, a feat that could not be achieved in such brief time were it not for UNCF and this capital campaign," Page said.

“This investment will transform lives and allow graduates to achieve upward social mobility -creating opportunities for families and communities to thrive,” she said.

Page also said the resources will help Stillman and other institutions bolster academic programs.

“Endowment growth is critical for attracting faculty, sustaining programs, and providing scholarships to students,” Page said.

For more information, go to the UNCF website, or to watch the full remarks, go to HBCU Plus.

Reach Jasmine Hollie at JHollie@gannett.com.

This article originally appeared on The Tuscaloosa News: Stillman College will receive portion of $100M UNCF grant