Former New York City Mayor Michael Bloomberg is making a substantial investment in the future of Black students and Historically Black Colleges and Universities (HBCUs). Through Bloomberg Philanthropies and the education nonprofit City Fund, a $20 million initiative has been launched to establish two K–12 charter schools situated directly on HBCU campuses in Alabama.
Creating Direct Pathways to Higher Education
This initiative aims to create a direct pipeline for Black students, particularly those in underserved areas, to pursue higher education at HBCUs. One of the schools, D.C. Wolfe Charter School in Shorter, Alabama, will open near Tuskegee University in the fall of 2026. The other, I Dream Big Academy, has already launched on the campus of Stillman College, marking Alabama’s first HBCU-charter school partnership.
Students attending these schools will benefit from dual-enrollment courses at the partner universities, offering them a head start on college credits. Additionally, they will have opportunities to engage in community internships, providing valuable real-world experience and strengthening their future career prospects.
Building on a Foundation of Support
This $20 million investment builds upon Bloomberg’s ongoing commitment to HBCUs and educational equity. In 2022, he donated $10 million to support K–12 charter programs serving Black students. The current initiative, launched in collaboration with the United Negro College Fund (UNCF), is part of a larger vision to expand this model beyond Alabama, eventually reaching the entire South and nationwide.
Jasmine Jenkins, senior program officer for education and advocacy at Bloomberg Philanthropies, highlighted the long-term vision: “There are two schools that have been announced, and there are a few more in the pipeline that we’re really excited about. This is a continuation of the work that Mike Bloomberg and Bloomberg Philanthropies has been doing for over a decade—supporting high-quality public charter schools and supporting the work that historically Black colleges and universities have been doing for decades.”
A Wave of Generosity Towards HBCUs
Bloomberg’s significant contribution adds to a growing trend of major philanthropic investments in HBCUs. In recent months, MacKenzie Scott has donated $700 million to these institutions, and Home Depot co-founder Arthur Blank pledged $50 million to Atlanta-area HBCUs. This collective support underscores the increasing recognition of HBCUs’ vital role in educating Black students and fostering future leaders.
What do you think about Michael Bloomberg’s investment in HBCU charter schools? How important are these types of partnerships for educational equity? Share your thoughts in the comments below!