Arthur M. Blank Family Foundation Donates $50 Million to Support Atlanta’s HBCU Students

Atlanta, GA – The Arthur M. Blank Family Foundation is making a landmark $50 million commitment to support students at four of Atlanta’s Historically Black Colleges and Universities (HBCUs), aiming to remove financial barriers and help students earn their degrees.

The foundation, chaired by Home Depot co-founder Arthur M. Blank, will distribute the funds over the next decade, providing gap scholarships designed to increase graduation rates at Clark Atlanta University, Morehouse College, Morris Brown College, and Spelman College. The program is expected to support nearly 10,000 students beginning in 2026.

“Atlanta holds a special place in my heart and will always be an integral part of our family foundation’s giving,” Blank said. “We know Spelman, Morris Brown, Morehouse, and Clark Atlanta are vital to Atlanta’s future, and we are deeply committed to supporting the students who will carry that legacy forward. Our hope is that by helping more students earn their degrees, launch successful careers, and become alumni who give back, we are investing in a cycle of opportunity that benefits young people and their families in Atlanta and communities across the nation for years to come.”

Targeting Financial Gaps

Many students at these institutions rely on Pell Grants, federal need-based aid that does not need to be repaid, but still face additional financial challenges that can prevent them from completing their degrees. The Blank Foundation’s initiative is specifically designed to close this gap, with the goal of improving graduation rates by 10 percent.

Fay Twersky, president of the Blank Foundation, emphasized the importance of addressing financial barriers: “Even a small financial gap can be the difference between walking across the graduation stage or walking away. These grants are a material investment in hope.”

Institutional Impact

The $50 million will be distributed as follows:

• Clark Atlanta University – $16.5 million
• Morehouse College – $16.5 million
• Spelman College – $16.5 million
• Morris Brown College – $500,000

College leaders praised the investment for its transformative impact. George T. French Jr., president of Clark Atlanta University, said, “This transformative gift empowers Clark Atlanta students to succeed and lead globally. It provides the critical resources they need to graduate and prepare for leadership in the global marketplace.”

Roz Brewer, interim president of Spelman College, added, “This investment affirms that every Spelman scholar deserves access to a world-class education. It expands our ability to bridge financial gaps and support students through to graduation.”

Continuing Commitment to Atlanta’s Westside and HBCUs

The Blank Foundation’s donation also reinforces its ongoing investment in Atlanta’s Westside communities, where all four HBCUs are located. These institutions collectively contribute an estimated $1 billion in annual economic impact to the region. The gift builds on previous foundation support, including funding for innovation labs, athletic refurbishments, and student programs across Atlanta-area HBCUs.

“This monumental investment will empower our students to remain focused on their academic studies and ensure that their talent, ambition, hard work, and integrity—not financial hardship—will determine their futures,” said F. DuBois Bowman, president of Morehouse College.

Looking Ahead

With this 10-year scholarship program, the Blank Foundation aims to remove economic barriers, improve graduation rates, and inspire other philanthropies to expand support for HBCUs nationwide.