The HBCU Transformation Project, a coalition of 40 historically Black colleges and universities (HBCUs), has received a $124 million gift.

The gift came from philanthropic funders Blue Meridian Partners. The donation aims to enhance enrollment, graduation rates, and employment prospects for HBCU graduates. The project, overseen by UNCF and other organizations, had previously received $75 million from Blue Meridian since 2020, showing promising results in improving enrollment and core operations at HBCUs. The funding will help these institutions address long-standing challenges due to underinvestment and systemic bias in state funding, ultimately strengthening their infrastructure and capacity to support students.

The flexible nature of the funding will allow schools to determine how best to utilize it while presenting a business case for achieving their objectives. HBCUs have historically received significantly less funding compared to predominantly white institutions.