Dimons Donate $12 Million to Historically Black Colleges

JPMorgan Chase CEO Jamie Dimon and his wife Judith have donated $12 million to 12 historically Black colleges and universities (HBCUs) in the US. The gift establishes the Dimon Fund to Advance Economic Opportunity and forms part of the United Negro College Fund's ($1.5 billion) capital campaign.

The donation will provide permanent endowment capital to the 12 selected institutions, with an additional $5 million in institutional matches from UNCF's pooled endowment fund. The foundation's contribution aims to give HBCUs funding that can support their work over a longer period.

According to Jamie and Judith Dimon, 'Our system of HBCUs continue to serve as the springboard to success for thousands of students in pursuit of the American Dream.' They added that they were imbued with a thirst for knowledge and a drive to succeed principles that they wish to share with all the students at the selected HBCUs.

The 12 HBCUs receiving funding from the Dimon Foundation include Benedict College, Dillard University, Edward Waters University, Huston-Tillotson University, Jarvis Christian University, Johnson C. Smith University, Miles College, Oakwood University, Shaw University, Stillman College, Tuskegee University, and Voorhees University.

The Dimons have backed education initiatives earlier through the James and Judith K. Dimon Foundation, which supports initiatives involving education and economic mobility since 1996. The foundation has paid out over $9 million to various organisations in 2024, including groups focused on public schools and career development.