Retired Alum Making Gifts to HBCUs

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Don't let anyone say that African-Americans don't give back. In fact, more and more historically Black Colleges and Universities are finding that they can tap their alum for gifts to their alma maters.

According to USA Today, Calvin Tyler wrote a check to Morgan University to the tune of a $1 million this year. Morgan, like other publically financed black schools, is faced with shrinking budgets.

Baby boomers who have prospered in the post-Civil Rights era say they are comfortable enough and their families taken care of, so they want to help others.

And black colleges, realizing the weath in their communities, as other colleges have, are encouraging them to remember their schools in life insurance policies and in their estate planning.

"Most of the public HBCU's (historically black colleges and universities) are just embarking on fund-raising, and in most cases, we really have to educate our alumni because in the past, say, 10 years ago, they really weren't solicited on a regular basis," Cheryl Hitchcock, vice president of institutional advancement at Baltimore's Morgan State said in USA Today.

Read the USA Today story here: http://www.usatoday.com/news/education/2007-10-16-black-colleges_N.htm

Related story: Lehman Brothers Donates to Spelman: http://blackenterprise.com/cms/exclusivesopen.aspx?id=3674

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