Fisk lands $1.5M grant from Kresge Foundation
SOURCE: Nashville Business Journal
The grant will support a multi-year effort to strengthen the 142-year-old school, which has struggled financially in recent years.
The grant tops off a year of record fundraising for Fisk. The school successfully raised $4 million in the fiscal year ending June 30, putting a halt to nine years of budget deficits. Jumping the financial hurdle also qualified the school for a $2 million challenge grant from the Mellon Foundation.
“These are challenging times for higher education and these funds support Fisk’s effort to fortify our core strengths and better serve our students,” says Fisk President Hazel O’Leary.
Fisk, founded by donations from former abolitionists in 1866, was the country’s first college for former slaves. The school, which now admits students of all races and religions, is still considered a “historically black college and university,” often referred to as an HBCU.
U.S. News & World Report recently ranked Fisk fifth in the nation in its inaugural 2008 ranking of ninety historically black colleges.
A recent National Science Foundation study showed that Fisk alumni earned more doctoral degrees in the natural sciences than did African American graduates from any other college or university in the nation.