HBCUs receive $100M to boost endowments after government highlighted funding gap

A major philanthropic organization is awarding $100 million which will help increase endowments for historically Black colleges and universities, many of which continue to be underfunded at high rates, according to federal government data.

The donation from the Lilly Endowment Inc. to the United Negro College Fund (UNCF), announced on Thursday, is intended to boost the fund's new $1 billion capital campaign, according to a news release from the fund.

The award will immediately increase each UNCF member's endowment by $2.7 million, the release states. That would more than double the endowments of two of the 37 member institutions of the UNCF.

Dr. Michael L. Lomax, the UNCF president and CEO, said in a statement that the $100 million will help establish «an HBCU pooled endowment fund of $370 million.»

«Rising tides do lift all boats and UNCF is committed to making this a reality,» Lomax said.

HBCU advocates and experts previously told ABC News that the colleges and universities got a new «spotlight» put on them, and the opportunity they offer, in the wake of the U.S. Supreme Court's decision last year effectively ending the use of affirmative action in higher education admissions.

At the same time, some of those educators and advocates noted the persistent financial differences that could hamstring the ability of HBCUs to meet increased interest and demand.

Government officials have also spoken out about the issue.

«Unacceptable funding inequities have forced many of our nation's distinguished Historically Black Colleges and Universities to operate with inadequate resources and delay critical investments in everything from campus infrastructure to research and development to student support services,» Education Secretary Miguel