Arthur M. Blank, Founder Of The Home Depot And Owner Of Atlanta Falcons, Donates $50M Into 4 Of The City’s HBCUs Through His Foundation

HBCUs have received a significant boost.

According to a press release shared with AFROTECH™, the Arthur M. Blank Family Foundation has donated $50 million through its Founder Initiatives portfolio and in collaboration with key Atlanta institutions to benefit Clark Atlanta University, Morehouse College, Morris Brown College, and Spelman College, all Historically Black Colleges and Universities (HBCUs) in the Atlanta area.

The funding aims to help students complete their education through gap scholarships. To be eligible, students must have explored other routes of funding such as scholarships, federal grants, state assistance, and loan programs, and be in good standing academically, the press release notes.

“This investment affirms that every Spelman scholar deserves access to a world-class education. It expands our ability to bridge financial gaps and support students through to graduation,” Spelman College Interim President Rosalind “Roz” Brewer said in the news release.

Morehouse College President Dr. F. DuBois Bowman commented:

“This monumental investment will empower our students to remain focused on their academic studies and ensure that their talent, ambition, hard work, and integrity, not financial hardship, will determine their futures.”

Data from the news release projects that HBCU graduates who benefit from the program will earn 57% more than they would without a degree, with graduates who work full-time gaining more than $1 million in additional income over the course of their career.

This investment will position both students and the region for success. The report projects that these Atlanta HBCUs will contribute an estimated $1 billion in annual economic impact.

“We know Spelman, Morris Brown, Morehouse and Clark Atlanta are vital to Atlanta’s future, and we are deeply committed to supporting the students who will carry that legacy forward. We recognize that these campuses, like many across the country, are home to generations of students whose promise inspires us,” said Arthur M. Blank, chairman of the Arthur M Blank Family Foundation, in the news release.

“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,” Blank continued.