The foundation is shifting its investment strategy to a mission and values-aligned approach as part of its hiring of an outsourced cio to manage its public and private markets investment portfolio.
The foundation established a new endowment to support core institutional needs at historically Black colleges and universities, including infrastructure, technology and institutional capacity.
The fund will spend down its entire endowment to zero after accelerating its planned spend-out with nearly $24 million in grants in the last 15 months.