MEMPHIS, Tenn. — A Memphis college made history on Thursday by receiving one of the largest financial gifts ever for a HBCU.
LeMoyne-Owen College announced it’s the recipient of the largest gift in the school’s 158-year history. The college will receive a $40 million endowment from the Community Foundation of Greater Memphis.
Interim President Dr. Carol Johnson-Dean made the announcement Thursday morning on the school’s Facebook page.
She called the gift “transformative,” saying it will be used for scholarships, more rigorous programs and to serve even more students. Some of it will also help those in one of the poorest zip codes in Memphis and America.
The endowment was created from assets from the Community Foundation of Greater Memphis, an organization that works to strengthen the community through philanthropy.
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