The Reinvestment Fund, a national nonprofit, announced the inaugural cohort of its HBCU Brilliance Initiative, aimed at supporting the financial health of 11 Historically Black Colleges and Universities across the United States.
The initiative, which combines grants and technical assistance, will provide each participating institution with $40,000 in grants and up to $1,000,000 in financing.
“We are so thrilled to announce this inaugural cohort of the HBCU Brilliance Initiative program, a transformational experience that will help to build thriving higher education institutions and sustainable communities,” Christina Alexis, Head of the HBCU Brilliance Initiative Program at Reinvestment Fund, said in a statement.
The funding is intended to support projects such as campus infrastructure improvements, sustainability initiatives, and planning efforts.
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Dr. Ibram X. Kendi, Professor of History and founding director of the Institute for Advanced Study at Howard University, and Leah Rothstein, author and housing policy leader, will serve as key advisors for the program, providing guidance to the cohort throughout the initiative.
The Brilliance Initiative will regularly convene the cohort to build their networks and capacity, supported by a technical assistance curriculum administered by Reinvestment Fund and a council of HBCU leaders, advocates, and financial experts.
The program aims to establish permanent resources and capital for additional projects that benefit the HBCU populations, which include a significant number of Pell Grant recipients and first-generation college students.
“The HBCU Brilliance Initiative is an innovative tool to support the growth of healthy and thriving communities across the country,” Donald Hinkle-Brown, president and CEO of Reinvestment Fund, said.
The HBCU Brilliance Initiative represents a significant investment in the future of HBCUs, aiming to ensure these institutions continue to flourish and support their communities. The program’s first cohort will begin orientation in November, with the first in-person convening scheduled for the new year.
