Investing in HBCUs A Winning Proposition

In January, HOPE made a $7.5 million New Markets Tax Credit investment in Nashville-based Fisk University to support the renovation of the John Hope and Aurelia Franklin Library, the Driscoll House (Race Relations Building), the Boyd House, and new construction for the Roland Parrish Career Center. Our largest investment to date with an HBCU, HOPE places a priority on financing projects that generate deep impact in historically underserved communities. HBCUs are a natural partner for HOPE in this work, because of their oversized role in expanding economic mobility for Black families and communities. In addition to financing development projects, HOPE works with HBCUs in several other ways including: providing financial services for students, staff and alumni; sponsoring student internships and fellowships; and collaborating with procurement offices to increase diversity among HBCU suppliers and contractors. To learn more about how CDFIs and HBCUs can collaborate to increase economic mobility in low-income communities see our HBCU-CDFI Economic Mobility Strategy Guide.