Alpha Kappa Alpha Sorority, Inc., in partnership with its Educational Advancement Foundation, recently announced the establishment of the AKA-HBCU Endowment Fund, which was created to bolster the financial stability of Historically Black Colleges and Universities.
Over the course of the next four years, AKA-HBCU Endowment Fund has pledged to distribute $10 million in financial support to 96 accredited institutions. Presidents from 32 of the participating HBCUs will receive the first installment of the endowment gift in the amount of $50,000 at the Alpha Kappa Alpha International Headquarters in Chicago Feb. 28.
“As an HBCU graduate and someone who has dedicated my life’s work to the HBCU community, I personally know that the financial challenges of many institutions have an impact on student enrollment, retention and graduation rates,” said Alpha Kappa Alpha Sorority, Inc. International President Dr. Glenda Glover. “Implementing an endowment fund is a critical need and has been a priority for my administration since I took office last year. Alpha Kappa Alpha’s 111-year history is deeply interwoven into the history of HBCUs, and therefore it is imperative that we continue to invest in these treasured institutions.”
The endowment fund is one of many components of Alpha Kappa Alpha’s international platform under Glover’s leadership. The fund falls under the organization’s target HBCU for Life: A Call to Action, which promotes HBCUs by encouraging students to attend and matriculate through these institutions as a sustainability measure.
In further commemoration of Black History Month, the AKAs and the Educational Advancement Foundation encourage education advocates globally to support the advancement of America’s HBCUs, which have served as a cornerstone in the Black community since 1837.
Last September, Alpha Kappa Alpha achieved a record-breaking, single-day goal of raising more than $1.2 million to support its $10 million goal in providing support to the nation’s HBCUs. For more information about the endowment or to contribute to the Alpha Kappa Alpha Educational Advancement Foundation, visit www.AKAEAF.org.