WASHINGTON, DC (December 17, 2020) – Thurgood Marshall College Fund (TMCF) has received a $5 million gift from the charitable foundation established by philanthropist Stephen Feinberg.
The substantial gift will fund the Stephen Feinberg Scholarship Program, which will provide need-based scholarships to students attending Historically Black Colleges and Universities (HBCUs) and Predominantly Black Institutions (PBIs) who experience financial hardships. Mr. Feinberg is the co-founder and co-chief executive officer of Cerberus Capital Management, a global private equity firm with investment assets across complementary credit, private equity, and real estate platforms.
The foundation stated: “We are thrilled to partner with TMCF, a truly outstanding leader in the educational space. This gift allows us to further our founder’s philanthropic vision of advancing racial equity in both postsecondary education and in the professional opportunities that it affords.”
Dr. Harry L. Williams, President & CEO of TMCF said that the gift will go a long way in helping to provide a safety net for some of the nation’s most vulnerable students.
“We are enormously grateful to Mr. Feinberg’s foundation for its generous gift and support of our students” said Williams. “There is no question that the Stephen Feinberg Scholarship Program will dramatically help many of our students graduate from college and will further catapult them into a competitive job market.”
“At a time when so many students are struggling to attend and graduate from college, we are thrilled that the foundation has invested in HBCUs by creating the Stephen Feinberg Scholarship Program,” said Dr. N. Joyce Payne, Founder of TMCF. “This scholarship is historic and will greatly enable TMCF to continue the important work of recruiting, retaining and graduating scholars.”
Charles Merinoff, Chairman of TMCF’s Board of Directors, said that the Steven Feinberg Scholarship Program will allow TMCF to expand its reach and assist even more students in 2021 and beyond.
“This generous scholarship program will enable TMCF to continue forward with our mission of ensuring student success by promoting educational excellence and preparing the next generation of workforce talent through leadership development,” said Merinoff.
About the Thurgood Marshall College Fund (TMCF)
Established in 1987, the Thurgood Marshall College Fund (TMCF) is the nation’s largest organization exclusively representing the Black College Community. TMCF member-schools include the publicly-supported Historically Black Colleges and Universities and Predominantly Black Institutions, enrolling nearly 80% of all students attending Black colleges and universities. Through scholarships, capacity building and research initiatives, innovative programs and strategic partnerships, TMCF is a vital resource in the PK-12 and higher education space. The organization is also the source of top employers seeking top talent for competitive internships and good jobs.
TMCF is a 501(c)(3) tax-exempt, charitable organization. For more information about TMCF, visit: www.tmcf.org.
