The Thurgood Marshall College Fund (TMCF) and its Board of Directors recently hosted a CEO Impact Awards event in Detroit to honor the influence and actions of an outstanding role model to the Black collegiate community. After the event, an announcement was made that TMCF will manage an endowment fund of $1 million, with the possibility of an additional $500,000, to support students at historically Black colleges and universities (HBCUs).
The event honored Rip Rapson, president and CEO of The Kresge Foundation, for his dedication to HBCUs, their students and to mark his organization’s centenary.
“Rip is so deserving of this award for the leadership he provides at The Kresge Foundation, an organization that has a long history of supporting HBCUs,” Dr. Harry L. Williams, president & CEO of TMCF, said.
The foundation is providing a $1 million endowment to TMCF, with the possibility of an additional $500,000 grant if the organization can invest matching funds.
“This investment used for supporting HBCU students comes at a critical time in our nation’s history and will provide access to education and career opportunities for a long time,” George F. Spencer, chief innovation and growth officer at TMCF, said.
The event was co-chaired by Byna Elliott, global head of Advancing Black Pathways at JPMorganChase and a member of TMCF’s Board of Directors; Jacqueline Howard, head of Money Wellness for Ally Financial, and William F. L. Moses, managing director of the Education Program at the Kresge Foundation and member of the President’s Board of Advisors on HBCUs.
Funds raised during TMCF’s Giving Tuesday initiative can be applied to the amount needed for the additional $500,000 grant from The Kresge Foundation. Giving Tuesday takes place Tuesday, Dec. 3.
