By Ann-Marie Waterman
Coppin State University announces its selection as one of eight recipients of the T. Rowe Price Foundation’s impact grants. The foundation has committed a total of $2.25 million to foster growth in the nonprofit community in Baltimore. Over the next three years, Coppin State will be granted a total of $450k equating to $150k per year. With this contribution, Coppin State will establish a hub that will support Baltimore’s nonprofit sector. This center will be the first of its kind at any Historically Black College and University and in Baltimore.
“What we are doing is unprecedented among our nation’s HBCUs. As a leading urban institution, this is another example of Coppin State University being out in front on important social and economic matters,” said President Anthony Jenkins. “With the support of the T. Rowe Price Foundation and its President John Brothers, we are not only constructing a physical space but also cultivating a hub for knowledge, skill development, research, service and meaningful connections. Together, we are shaping a brighter future, where the nonprofit sector thrives, and our community can BE MORE.”
“Nonprofits are at the heart of the Baltimore community. They are immersed in the city’s culture, understanding the specific and unique challenges our community faces. These nonprofits have taken an active role in fostering transformation in our city, and we understand that they are the most equipped to meet the city’s challenges head-on,” said John Brothers, President of the T. Rowe Price Foundation. “That’s why with this series of impact grants, the T. Rowe Price Foundation hopes to support and build upon the already successful work being done by Baltimore nonprofits. With strategic initiatives and intentional funding, we aim to provide essential resources to our city’s nonprofits to support their mission, teams and overall, the community they serve.
The T. Rowe Price Foundation has pledged $6.5 million in grants over three years to address critical gaps in Baltimore’s nonprofit sector. Established in 1981, the Foundation has already provided over $170 million in grants, with this commitment its largest yet. Starting in 2025, the funds will be distributed across three portfolios, with the first one valued at $2.25 million supporting eight nonprofit initiatives focused on building a healthy nonprofit community in Baltimore. The Foundation’s grant-making strategy was informed by meetings with T. Rowe Price associates, community leaders, and global thought leaders, as well as insights from 2022 State of the Baltimore Nonprofit Sector report. The remaining funds will be allocated to additional impact portfolios, with announcements planned throughout 2024, reflecting the Foundation’s commitment to diversifying its impact strategy for the Baltimore community.
