JPMorgan Chase\u00a0Chairman and CEO\u00a0Jamie Dimon and his wife are\u00a0investing\u00a0in HBCUs.<\/p>\n
The James and Judith K. Dimon Foundation was created in 1996 to invest in the next generation through education<\/a> and economic mobility, according to<\/a> a press release. It has played a role in advancing FutureReadyNYC (FRNYC), which ensures high school students are equipped for 21st-century careers, alongside NYC Public Schools and other partners, according to a press release. At least 100,000 public high school students will graduate<\/a> better positioned for employment by 2030.<\/p>\n The foundation\u2019s latest effort is a $12 million donation to the United Negro College Fund, which coincides with the launch of The Dimon Fund to Advance Economic Opportunity, which will strengthen participating Historically Black Colleges and Universities<\/a> (HBCUs) through permanent endowment support, backed by a $5 million match from UNCF\u2019s pooled endowment fund. The Dimon Fund is part of UNCF\u2019s $1.5 billion capital campaign.<\/p>\n The couple\u2019s interest in UNCF should come as no surprise, as Jamie previously served on its board of directors, per the release.<\/p>\n \u201cOur system of HBCUs continues to serve as the springboard to success<\/a> for thousands of students in pursuit of the American Dream,\u201d<\/a> Jamie and Judith Dimon said in a joint statement, per the press release. \u201cAs the children of first-generation high school and college graduates, we were imbued with a thirst for knowledge and a drive to succeed\u2014principles that we have passed on to our own children and that we wish to share with all the students at the selected HBCUs.\u201d<\/p>\n Dr. Johnnetta Betsch Cole, UNCF president-in-residence and co-chair of UNCF\u2019s capital campaign, commented:<\/p>\n \u201cTheir gift is both a vote of confidence and a catalyst. By accelerating endowment growth, this commitment from The Dimon Foundation will strengthen the financial position of these vital institutions and expand their capacity to make long-term decisions benefiting students, faculty, and the broader communities they serve as they prepare the teachers who awaken young minds today and the healers who will mend our communities tomorrow.\u201d<\/p>\n