The INSIDER - Fall 2020

AKAs Gift Substantial Endowment Donation

Texas College has received a substantial gift in the amount of $50,000 from Alpha Kappa Alpha Sorority, Incorporated® (AKA), in partnership with the AKA Educational Advancement Foundation®. The donation comes on the heels of the sorority’s third annual HBCU Impact Day initiative, which raised over $1.5 million in one day for the support of HBCUs. AKA began the process of donating to HBCUs through the AKA-HBCU Endowment Fund in 2019, with a goal to donate $10 million to 96 HBCUs within four years. Each HBCU has received, or is set to receive, $50,000 in unrestricted endowment funds as part of a phased approach to help schools reduce student debt through scholarships, fund industry-specific research, recruit and retain top faculty, and other critical operations. “Given the current economic state of our world, in which we are dealing with a global health pandemic and widespread injustice against people of color, now more than ever is the time for historically Black sororities, fraternities and other HBCU supporters to step up and be of service to our historic institutions of higher education,” said Dr. Glenda Glover, AKA International President and Chief Executive Officer. “I know first-hand the immense challenges HBCUs are facing during this time of uncertainty,” added Dr. Glover, who is also the president of Tennessee State University and an HBCU graduate. “However, I also know that these institutions are resilient and resourceful, which is why Alpha Kappa Alpha is fully committed to investing in our HBCUs and preserving their educational legacy for generations to come.” In keeping with the general need and foundation of post-secondary education institutions, it is expected that endowments are established and maintained. The endowment, in general, demonstrates what many believe is the strength and solidity of an institution, versus the institution's longstanding tenure. It is in keeping with this sentiment, that philanthropic support of endowments is appreciated and there is never too little, or too much to be considered. Therefore, with the generous gift to Texas College, by the AKA's, the mantra of the educational need becomes possible for untold numbers. For Texas College, the foundational undergirding of the endowment are scholarships. The AKA gift will expand this foundation, and through dividend growth by the endowment, financial resources will assist with making educational dreams become a reality for deserving students. While HBCUs have gotten much more favorable attention in the press over the past few months, COVID-19 continues to have an adverse effect on most colleges and universities. Many HBCUs have adjusted to the challenges of educating through a global health pandemic, but financial support is still needed to help maintain daily operations. “I would like to commend Alpha Kappa Alpha Sorority, Inc., for the embrace of Texas College with a significant contribution to the institution's endowment,” noted Texas College President Dr. Dwight J. Fennell. “This gesture of kindness is a clear indication that the AKA's understand the benefit of endowment growth for post-secondary institutions. It is also evident that the AKA's understand that such gifts assist institutions with addressing the strength, capacity and ability to sustain. Moreover, such philanthropic support assists with creating scholarship opportunities for deserving students. It is with gratitude and appreciation that this gift is received. Many thanks to Alpha Kappa Alpha Sorority, Inc.”

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The INSIDER │ Volume 15 │ Fall 2020