Philadelphia, PA September 12, 2022 – Today, Reinvestment Fund, in partnership with Brookings Metro, announced a report entitled A Call to Action for HBCU Investment, which is part of Reinvestment Fund’s work to advance the local and national impact of Historically Black Colleges and Universities (HBCUs). The report outlines six steps that HBCU and leaders of financial institutions can take to increase investment in HBCUs.
“This report is part of our deepened commitment to improving our support of HBCUs and honoring their goals to improve and expand their financial capabilities, campuses, and their surrounding communities. Brookings has been a great partner and we are pleased to share this call to action as a path forward,” said President and CEO of Reinvestment Fund, Don Hinkle-Brown. “We invite leaders, especially those in the financial and philanthropic sectors, to read the report and join us in our efforts to find new ways to better serve these important institutions.”
The report is a culmination of a series of cross-sector convenings held by Reinvestment Fund in February 2022. These first-of-a-kind convenings brought together leaders representing banks, CDFIs, foundations, researchers, and HBCUs for a series of conversations on the ways systemic racism has stifled HBCU growth and how the financial and philanthropic sectors can support these learning institutions.
The convenings were organized in response to three key themes that shape the challenges and opportunities for HBCUs: access to capital, “telling the true HBCU story,” and capacity building. The themes helped guide the discussions that produced six key action steps for HBCUs and CDFIs.
The report magnifies the vital role HBCUs play in accelerating Black economic mobility, among the most disadvantaged students, and promoting economic growth in their communities and beyond. The call to action highlights how mission-based institutions like Reinvestment Fund can provide capital and capacity building investments to help sustain this critical role. Strong partnerships between HBCUs and financial and philanthropic institutions, particularly CDFIs, are needed to advance the economic mobility of Black Americans and economic strength of our communities.
To learn more about Reinvestment Fund’s HBCU work or inquire about partnership opportunity, please contact Yonina Gray, National Director of External Relations.
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Reinvestment Fund is a mission-driven financial institution committed to making communities work for all people. We bring financial and analytical tools to partnerships that work to ensure that everyone has access to essential opportunities: affordable places to live, access to nutritious food and health care, schools where their children can flourish, and strong, local businesses that support jobs. We use data to understand markets, communities, and impediments to opportunity—and how investment and policy decisions can have the most powerful impact. Since our inception in 1985, Reinvestment Fund has provided over $2.7 billion in financing to strengthen neighborhoods, scale social enterprises, and build resilient communities. Learn more at reinvestment.com.