Nationwide — Arthur Blank, co-founder of Home Depot and owner of the Atlanta Falcons and Atlanta United, has donated $50 million to Atlanta’s historically Black colleges and universities to help students close financial gaps, finish their degrees, and boost graduation rates across four major campuses.
The 10-year commitment will benefit nearly 10,000 students at Clark Atlanta University, Morehouse College, Morris Brown College, and Spelman College. The donation will provide “gap scholarships” for those nearing graduation who have already used all other financial aid options.
“These grants are a material investment in hope,” said Fay Twersky, President of the Arthur M. Blank Family Foundation, according to Atlanta News First.
The announcement follows the Trump administration’s recent plan to redirect nearly $500 million in federal funds to HBCUs and tribal colleges as a one-time investment. At the same time, the government proposed cuts to programs serving other minority groups in higher education.
Since signing the Giving Pledge, Arthur Blank has vowed to donate at least half his wealth. His foundation has already contributed more than $1.5 billion to hospitals, schools, museums, stadiums, and the arts.
This latest donation marks the foundation’s largest gift to HBCUs in Georgia. Past contributions include $10 million to Spelman College for an innovation lab and $6 million to upgrade athletic fields at Clark Atlanta, Albany State, Miles College, and Savannah State.
According to the foundation, Atlanta’s HBCUs generate about $1 billion in annual economic impact for the region and have a strong record of helping students rise from lower-income backgrounds to higher-income brackets.
“Our hope is that by helping more students earn their degrees, launch successful careers and become alumni who give back, we are investing in a cycle of opportunity that benefits young people and their families in Atlanta and communities across the nation for years to come,” the foundation said.
Morehouse College President Dr. F. DuBois Bowman praised the donation, calling it a “monumental investment” that will help students focus on academics rather than financial struggles.