Skip Navigation
 
 
 
 
 
 
News July 29, 2024

The Kresge Foundation Invests Millions into Reinvestment Fund’s HBCU Brilliance Initiative 

Geography Multi State
Tags

ATLANTA, GA – Reinvestment Fund’s HBCU Brilliance Initiative received an investment of $4.25 million from the Kresge Foundation that will support critical investments in the facilities and most importantly the overall growth of Historically Black Colleges and Universities (HBCUs) across the country.

The HBCU Brilliance Initiative was created and designed in recognition of the rich legacy and invaluable contributions HBCUs and their alumni have made to the American education system and society at large.

“As an HBCU alumnus, I am proud of the work Reinvestment Fund and the HBCU Brilliance Initiative has already done to provide HBCUs with an increase in financial stability now, to achieve the long-term growth they desire,” said Damien Wilson, Senior Director of the HBCU Brilliance Initiative. “I thank Kresge Foundation for their investment, which will help us provide these historic institutions with an important source of fiscal capital.”

Kresge believes that Reinvestment Fund’s HBCU Brilliance Initiative prescribes the exact type of technical and financial support that addresses the full range of HBCUs’ challenges.

“Reinvestment Fund is a relationship-based lender and has experience working on capacity building with HBCUs. I hope the HBCU Brilliance Initiative becomes a model for how CDFIs make reoccurring and ongoing investments in HBCUs,” said Erika Brice, Social Investment Officer of the Kresge Foundation.

Since 2018, Reinvestment Fund has loaned nearly $35 million to HBCUs to support the financial health of these institutions and fund capital projects. The Brilliance Initiative is structured to resource HBCUs with knowledge, loan capital and credit enhancement, while building the capacity of HBCUs to attract and retain permanent assets that promote sustainable institutional prosperity. The Brilliance Initiative also aims to help HBCUs build their networks, policy advocacy and research to enhance the relationship between HBCUs and the communities in which they reside.

Learn more about the HBCU Brilliance Initiative here. 

For media inquirers, please contact: media@reinvestment.com   

###

About the HBCU Brilliance Initiative:

The HBCU Brilliance Initiative is a multifaceted effort dedicated to recognizing and fostering excellence within HBCUs nationwide. Through strategic partnerships, innovative programs, and targeted resources, the initiative seeks to amplify the impact of HBCUs in shaping the next generation of leaders, innovators, and changemakers.

We have a deeply rooted belief that HBCUs are invaluable institutions that have played a critical role in shaping the academic, cultural, and social fabric of our society. By focusing on providing targeted financial support, we aim to elevate HBCUs to new heights, enabling them to continue their legacy of producing exceptional leaders, scholars, and changemakers who positively impact their communities and the world.

About Reinvestment Fund:

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 people in communities across the country have the opportunities they strive for: 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 and how transactions can have the most powerful impact, which has consistently earned us the top Aeris rating of AAA for financial strength and four stars for impact management. Our asset and risk management systems have also earned us an AA- rating from S&P. Since our inception in 1985, Reinvestment Fund has provided over $3.2 billion in financing to strengthen neighborhoods, scale social enterprises, and build resilient communities.

About The Kresge Foundation

The Kresge Foundation was founded in 1924 to promote human progress. Today, Kresge fulfills that mission by building and strengthening pathways to opportunity for low-income people in America’s cities, seeking to dismantle structural and systemic barriers to equality and justice. Using a full array of grant, loan, and other investment tools, Kresge invests more than $160 million annually to foster economic and social change. For more information visit Kresge.org.

Latest Insights

 
 
News December 5, 2024

Reinvestment Fund’s Program Director for Early Childhood Education Recognized for Her Work As An Influential Pennsylvanian 

 
 

Protected: Community of Practice 2024: Summary Report

 
 
News November 13, 2024

Reinvestment Fund Fall Newsletter