Arthur M. Blank Foundation Donates $50 Million to Atlanta’s HBCUs to Help Close Graduation Gaps

Atlanta’s historically Black colleges and universities (HBCUs) are receiving a major boost toward student success, thanks to a $50 million donation from the Arthur M. Blank Family Foundation. The 10-year initiative aims to ensure that thousands of students can finish their degrees without being derailed by last-minute financial obstacles.

Announced Monday, the foundation’s commitment will provide “gap scholarships” for nearly 10,000 students at Clark Atlanta University, Morehouse College, Morris Brown College, and Spelman College — four of the city’s most iconic HBCUs. These funds are designed to help students in good academic standing who have exhausted all other financial aid options.

“These grants are a material investment in hope,” said Fay Twersky, president of the Arthur M. Blank Family Foundation. “No student should have to abandon their dreams because of a few thousand dollars standing in the way of graduation.”

Empowering Students, Strengthening Atlanta

The gift represents the foundation’s largest single investment in HBCUs to date, building on decades of philanthropy that has shaped Atlanta’s education, healthcare, and community landscape.

According to the foundation, the funding will not only improve graduation rates but also strengthen the long-term economic health of the region. HBCUs in Atlanta already contribute an estimated $1 billion annually to the local economy, and research shows they outperform other institutions in helping students from lower-income backgrounds climb the economic ladder.

“Our hope is that by helping more students earn their degrees, launch successful careers, and become alumni who give back, we are investing in a cycle of opportunity that benefits families and communities for generations to come,” the foundation said in a statement.

A Philanthropic Legacy Rooted in Atlanta

Arthur Blank — co-founder of The Home Depot and owner of the Atlanta Falcons and Atlanta United — has long been a transformative figure in Atlanta’s civic and philanthropic landscape.

Since his retirement from corporate leadership in 2001, Blank has built a reputation as one of America’s leading philanthropists, with a net worth exceeding $11 billion, according to Forbes. Through his foundation, he has donated more than $1.5 billion to causes ranging from healthcare and education to environmental conservation and the arts.

Blank is also a signatory of The Giving Pledge, joining global billionaires who have committed to donating at least half their wealth to charity during their lifetime.

Building on a Strong Record of HBCU Support

This latest $50 million gift expands on the foundation’s ongoing investments in Georgia’s historically Black colleges.

Past contributions include $10 million to Spelman College for an innovation lab and $6 million to improve athletic facilities at Clark Atlanta University, Albany State University, Miles College, and Savannah State University.

“This monumental investment will empower our students to remain focused on their academic studies and ensure that their talent, ambition, hard work, and integrity — not financial hardship — will determine their futures,” said Dr. F. DuBois Bowman, president of Morehouse College.

A Broader National Context

The announcement comes amid shifting national discussions about funding for minority-serving institutions. Just days before the Blank Foundation’s pledge, the Trump administration announced plans to redirect nearly $500 million in federal support toward HBCUs and tribal colleges as a one-time investment.

However, the proposal would reportedly cut funding from institutions serving Hispanic and other minority populations, drawing mixed reactions from educators and equity advocates.

Against that backdrop, philanthropic efforts like Blank’s take on added importance — filling critical funding gaps that federal or state aid may not address.

Investing in the Future of Black Excellence

For the students who will benefit, the impact could be life-changing. Gap scholarships often determine whether a student can cross the finish line or drop out just short of earning a degree.

“It’s money well spent,” the foundation said, “because when students graduate, communities thrive.”

With this landmark donation, the Arthur M. Blank Family Foundation is betting on a future where opportunity, not circumstance, shapes the path of Atlanta’s next generation of leaders — and where financial barriers no longer stand between Black students and their potential.