Could This Help Historically Black Colleges Fix Their Endowment Woes?
February 13, 2024
The endowments of Historically Black Colleges and Universities in the U.S. are woefully underfunded and under resourced.
As part of the Community Foundation of Lorain County’s mission to increase visibility throughout the entirety of Lorain County, annual meetings are held at different locations each year. The 2023 annual meeting was held at Kendal at Oberlin on June 21.
Barbara Thomas, the CEO of Kendal at Oberlin, welcomed the attendees to the Community Foundation of Lorain County’s Annual Meeting and highlighted the strong relationship between Kendal at Oberlin and the Community Foundation, emphasizing their shared commitment to serving Lorain County and creating a vibrant and equitable future.
The biennial Jim Doughman Community Service Award was presented to Rey Carrion, who has made outstanding contributions to the community through his involvement in various organizations and grassroots initiatives.
The award recognizes Carrion’s commitment to making Lorain County a better place, and a $1,000 grant will be made in his name to a non-profit endowment fund of his choice.
The meeting also highlighted the Community Foundation’s commitment to Diversity, Equity, Inclusion & Belonging (DEI&B) in its investment portfolio. It announced the Community Foundation’s $500k investment with Paradigm Institutional Investments, a Black-owned and led investment firm.
Quentin McCorvey, the president of Paradigm, joined Charlita on stage for a conversation about the effects of the partnership and the importance of inclusive capitalism.
“The support and trust of the Community Foundation of Lorain County was crucial for us because trust is everything in this industry,” said McCorvey. “It’s been a whirlwind ride that was kicked off by the Community Foundation’s donation.”
Cindy Andrews, the President and CEO of the Community Foundation of Lorain County, shares the Community Foundation’s strategic planning process and introduces the five goals that will guide their future work, including prioritizing Diversity, Equity, Inclusion & Belonging, cultivating a culture of giving and generosity and uniting and nurturing the community through innovative grantmaking and programming.
“As we move forward, we will continue to evaluate and refine our strategies, measure our impact, and learn from our successes and challenges,” she said. “Additionally, we will work to build strong partnerships with donors, non-profits, and community leaders who share our vision of a thriving community where everyone belongs and has an opportunity to succeed!”
Original link found here.
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The endowments of Historically Black Colleges and Universities in the U.S. are woefully underfunded and under resourced.
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