Paine College Receives $50,000 Endowment from Alpha Kappa Alpha Sorority, Inc.®
October 30, 2020
Augusta, GA - (October 27, 2020) – Paine College has received an initial endowment of $50,000 from Alpha Kappa Alpha Sorority, Incorporated® in partnership with the AKA Educational Advancement Foundation®. The donation comes on the heels of the sorority's recent third annual HBCU Impact Day initiative where more than $1.5 million was raised in one day for the support of Historically Black Colleges and Universities (HBCUs).
Last year, AKA began the process of donating to HBCUs through the AKA-HBCU Endowment Fund with the goal to donate $10 million within four years. The sorority gifted $1.6 million to the first 32 of 96 HBCUs at a ceremony held at AKA's International headquarters in Chicago. Each HBCU received $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."
The Paine College endowment is an important source of revenue that offers support for scholarships, academic programs, and furthers the mission of the Institution.
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.
Dr. Cheryl Evans Jones, President, extended gratitude to Dr. Glenda Glover and the Alpha Kappa Alpha Sorority, Inc. Educational Advancement Foundation for the $50,000 gift to Paine College. "On behalf of the Paine College Family, we are grateful for your generosity and believing as we do Paine College is a sound investment. This gift will help the College advance its mission to provide an education at the highest quality to prepare spiritually-centered men and women for leadership and service."
Although HBCU Impact Day has passed, Alpha Kappa Alpha is still accepting donations to support the AKA-HBCU Endowment Fund $10 million dollar goal. Interested donors can make contributions by texting AKAHBCU to 44321, giving by mail or online at https://donate.akaeaf.org/pages/HBCU_Community_Impact_Day. For more information on the AKA Educational Advancement Foundation, a 501(c)(3) organization, and the sorority's commitment to HBCUs and the endowment fund visit www.AKAEAF.org.
Paine College, founded in 1882 by the Black and White leadership of the Methodist Church, is a private institution steeped in the tenets of Methodism that provides a liberal arts education of the highest quality. The College emphasizes academic excellence, ethical and spiritual values, social responsibility, and personal development to prepare spiritually centered men and women for positions of leadership and service.
About Alpha Kappa Alpha Sorority, Incorporated®
Alpha Kappa Alpha Sorority, Incorporated, is an international service organization that was founded on the campus of Howard University in Washington, D.C. in 1908. It is the oldest Greek-letter organization established by African American college-educated women dedicated to raising the status of African Americans, particularly girls and women. Through a robust international program of service, Alpha Kappa Alpha continues to institute groundbreaking social initiatives and social service programs that transform communities for the better. Today, these include Target 1: HBCU for Life: A Call To Action; Target 2: Women's Healthcare and Wellness; Target 3: Building Your Economic Legacy; Target 4: The Arts!; Target 5: Global Impact; and The Signature Program #CAPS. The sorority is comprised of over 300,000 members in more than 1000 graduate and undergraduate chapters in the United States and internationally. Alpha Kappa Alpha Sorority, Incorporated is a 501 (c)(7) organization. As a tax-exempt organization, AKA does not directly or indirectly participate in, or intervene in, any political campaign on behalf of (or in opposition to) any candidate for elective public office.
For more information on Alpha Kappa Alpha Sorority and its programs, visit www.AKA1908.com.