Although a recent ABFE and Candid report found a 30 percent decline in foundation funding to historically Black colleges and universities (HBCUs) between 2002 and 2019, preliminary figures show HBCUs received $249 million in grants in 2020 in the wake of George Floyd’s murder. Cautiously optimistic HBCU staff called attention to the need for continued funding to address years of underinvestment in infrastructure, personnel, and scholarships, emphasizing the importance of unrestricted funding. In 2023, funders addressed HBCU needs by investing in opportunities for Black students, supporting alum startups, enhancing libraries, providing endowment support, safeguarding cultural assets, offering scholarships, driving systemic improvements, and alleviating student debt.

Here are some of the top stories from 2023:

Debt Collective erases $9.7 million in Morehouse College student debt
(10/29/2023)

HBCU Transformation Project receives $124 million from Blue Meridian
(09/14/2023)

African American Cultural Heritage Action Fund awards $3.8 million
(06/19/2023)

Student Freedom Initiative launches $10 million fund for HBCUs
(06/11/2023)

Before 2020, funding for HBCUs was declining, report finds 

(05/02/2023)

HBCU Library Alliance, Harvard launch $6 million collaboration
(03/16/2023)

Applications and funding surge at HBCUs following racial reckoning
(02/22/2023)

Nex Cubed launches $40 million accelerator for HBCU alumni startups
(02/13/2023)

(Photo credit: Getty Images/fstop123)