Reviewed by: Caleb Turrentine
Oakwood University receives $1M donation from Dimon Foundation
Reading time: 3 minutes
Huntsville’s Oakwood University is one of 12 Historically Black Colleges and Universities to receive a share of $12 million from the James and Judith K. Dimon Foundation.
The Dimon Fund to Advance Economic Opportunity was established to help strengthen institutional balance sheets, expand capacity for long-range planning and secure research, academic and infrastructural capital.
Who received these donations?
Established as the Dimon Fund to Advance Economic Opportunity, the gift will provide permanent endowment capital to 12 selected United Negro College Fund member schools as part of their $5 million institutional match within UNCF’s pooled endowment fund.
According to the UNCF, recipient schools were selected for their “proven record of preparing educators, nurses and other healthcare professionals.”
Several of the selected schools have distinctive cross-institutional collaborations, including credit-transfer partnerships in health-related disciplines that shorten the distance between classroom and career launch, a national model for building talent pipelines at scale.
The following HBCUs received $1 million each:
- Benedict College (Columbia, SC)
- Dillard University (New Orleans, LA
- Edward Waters University (Jacksonville, FL)
- Huston-Tillotson University (Austin, TX)
- Jarvis Christian University (Hawkins, TX)
- Johnson C. Smith University (Charlotte, NC)
- Miles College (Fairfield, AL)
- Oakwood University (Huntsville, AL)
- Shaw University (Raleigh, NC)
- Stillman College (Tuscaloosa, AL)
- Tuskegee University (Tuskegee, AL)
- Voorhees University (Denmark, SC)
Who are James and Judith Dimon?
James “Jamie” Dimon is Chairman and CEO of JPMorgan Chase & Co. and previously served on UNCF’s board of directors.
Judy Dimon is president of The Dimon Foundation where she leads a strategic grant portfolio focused on bolstering and improving career connected learning for students in New York City public schools.
“Our country’s future and strength depend on our young people. Our system of HBCUs continue to serve as the springboard to success for thousands of students in pursuit of the American Dream.
As the children of first-generation high school and college graduates, we were imbued with a thirst for knowledge and a drive to succeed—principles that we have passed on to our own children and that we wish to share with all the students at the selected HBCUs.
We are honored to help UNCF strengthen the long-term financial viability of these critical schools of higher learning.”
Jamie and Judy Dimon
The James and Judith K. Dimon Foundation was created in 1996 to provide “solutions to systemic obstacles impeding the economic success of young people and families.”
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