Magazine article Black Issues in Higher Education

The College Fund/UNCF Gets $42 Million from Lilly Endowment

Magazine article Black Issues in Higher Education

The College Fund/UNCF Gets $42 Million from Lilly Endowment

Article excerpt

FAIRFAX, Va.- America's largest private foundation, The Lilly Endowment Inc., has awarded a $42 million, three-year grant to The College Fund/UNCF to assist historically Black colleges and universities (HBCUs) with capital, scholarship, and faculty funding needs.

"This is a major commitment by Lilly Endowment to Black colleges that recognizes the outstanding work these colleges do in providing low-cost, quality education for thousands of deserving young people," said William H. Gray III, president and CEO of The College Fund/UNCF, at the announcement of the award late last month.

The gift is the largest ever given to a single entity by the foundation in its sixty-one-year history. The Lilly Endowment previously has awarded $10.6 million in grants to The College Fund/UNCF and another $35.8 million to private HBCUs.

According to The College Fund/UNCF, enrollment at private HBCUs increased 28 percent between 1986 and 1996. As a result, HBCUs need more dormitories, more classrooms, more laboratories, and more information technology.

Also, almost 90 percent of students attending The College Fund/UNCF institutions are on financial aid. …

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