Jamie Dimon’s Foundation Gives $1M Each to Four Alabama HBCUs

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Published by Stephen Oluwadara at August 25, 2026

Bolstering the Long-term Financial Health of HBCUs

The Dimon Fund aims to bolster the long-term financial health of participating HBCUs. According to UNCF, building larger institutional endowments enables schools to plan further ahead, improve financial stability, and put more resources toward academic programs, research, and infrastructure.

The $1 million grants will strengthen the long-term financial sustainability of participating HBCUs. Recipients were chosen for their leadership, governance, and proven record of preparing students for high-demand careers in education, nursing, and healthcare.

Because the funds are structured as permanent endowments, schools can strengthen their capacity for long-term planning. They can invest in academic programs, research, and infrastructure without relying on annual fundraising for each initiative. The Alabama institutions set to receive the funding are Oakwood University in Huntsville, Miles College in Fairfield, Stillman College in Tuscaloosa, and Tuskegee University.

Jamie Dimon, chairman and CEO of JPMorganChase, previously served on UNCF’s board of directors. His wife, Judy Dimon, currently serves as president of the Dimon Foundation, which focuses on career-connected learning and economic opportunity for young people.

“Our system of HBCUs continues to serve as the springboard to success for thousands of students in pursuit of the American Dream,” Jamie and Judy Dimon said in the announcement, according to The Grio.

Dimon Foundation’s Commitment to Economic Mobility for Young People

The Dimon Foundation HBCU gift comes as Black colleges continue to confront a major foundation funding gap and demonstrate an outsized role in producing Black STEM graduates. In addition to the Alabama institutions, other HBCUs that will benefit from the grant include Benedict College, Dillard University, Edward Waters University, Huston-Tillotson University, Jarvis Christian University, Johnson C. Smith University, Shaw University, and Voorhees University.

Jamie and Judy Dimon said the gift reflects their commitment to economic mobility for young people, adding that they see HBCUs as a springboard to opportunity for students working toward what they called the American Dream.

The couple, who described themselves as children of first-generation high school and college graduates, said they hope the gift helps strengthen the schools’ long-term financial stability.

The partnership was developed under Dr. Johnnetta Betsch Cole, UNCF president-in-residence and co-chair of the organization’s capital campaign. “I am enormously grateful for this generous donation and the unwavering support of HBCUs by Jamie and Judy Dimon. Their gift is both a vote of confidence and a catalyst,” said Dr. Cole.

“By accelerating endowment growth, this commitment from The Dimon Foundation will strengthen the financial position of these vital institutions and expand their capacity to make long-term decisions benefiting students, faculty, and the broader communities they serve as they prepare the teachers who awaken young minds today and the healers who will mend our communities tomorrow.”