JPMorgan Chase Chairman and CEO Jamie Dimon and his wife, Judy, are donating $12 million to 12 HBCUs, providing each institution with $1 million to strengthen its endowment. The gift aims to support the long-term financial stability of HBCUs while expanding opportunities for students and future generations.

Through the James and Judith K. Dimon Foundation, each of the 12 institutions received $1 million in permanent endowment capital as part of the newly established Dimon Fund to Advance Economic Opportunity. Announced by the United Negro College Fund (UNCF), the gift is part of the organization’s $1.5 billion capital campaign to build stronger, more financially sustainable HBCUs and expand opportunities for generations of students.

“Our country’s future and strength depend on our young people. Our system of HBCUs continue to serve as the springboard to success for thousands of students in pursuit of the American Dream. As the children of first-generation high school and college graduates, we were imbued with a thirst for knowledge and a drive to succeed—principles that we have passed on to our own children and that we wish to share with all the students at the selected HBCUs. We are honored to help UNCF strengthen the long-term financial viability of these critical schools of higher learning,” said Jamie and Judy Dimon in a statement released by UNCF.

The following institutions received the Dimons’ generous gift:

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  • 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
  •  Voorhees University

According to UNCF, the institutions were selected based on their leadership and governance, as well as their track records of preparing teachers, nurses, and other health care professionals.

The Dimons’ investment represents more than a financial contribution—it is a commitment to the enduring role HBCUs play in educating and preparing the next generation of leaders. By strengthening these institutions’ endowments, the $12 million gift will help create lasting opportunities for students while supporting the long-term sustainability and impact of HBCUs for generations to come.