Dimon Family Foundation Gives $4 Million to Alabama HBCUs

A $4 million gift from JPMorgan CEO Jamie Dimon's family foundation will go to four historically Black colleges and universities in Alabama. The funding, which is part of a larger $12 million investment, will be used to establish permanent endowments for the schools.

The four institutions selected are Miles College in Fairfield, Oakwood University in Huntsville, Stillman College in Tuscaloosa, and Tuskegee University. Each school will receive $1 million in funding through the newly established Dimon Fund to Advance Economic Opportunity.

The money will become part of the schools' permanent endowments, giving them additional resources for long-term planning and future needs. The funding is meant to strengthen the financial position of the institutions and give them more flexibility to support research, academics, and infrastructure.