The Associated Press
Michael Bloomberg’s organization Bloomberg Philanthropies is announcing a $600 million gift to the endowments of four historically Black medical schools. Bloomberg, the former New York City mayor and the billionaire founder of Bloomberg LP, will make the announcement Tuesday in New York at the annual convention of the National Medical Association, an organization that advocates for African American physicians.
She said the gift has helped her school significantly increase its fundraising. “But our endowment and the size of our endowment has continued to be a challenge, and we’ve been very vocal about that. And he heard us,” she said of Bloomberg and the latest donation. In January, the Lilly Endowment gave $100 million to The United Negro College Fund toward a pooled endowment fund for 37 HBCUs.
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