A billionaire couple, Ronda Stryker and William Johnston is giving $100 million to Atlanta’s Spelman College. The donation is the largest financial donation ever made to a historically Black college or university. The couple announced their donation to the women’s University on Thursday, January 18, 2024.
Stryker is a member of Harvard Medical School’s board of fellows and a member of the college’s board of trustees. In addition, she is the granddaughter of the founder of Stryker Corp., a medical device company. On the other hand, her husband, Johnston, founded Greenleaf Trust. He is also the board chairman of the wealth management firm in Michigan.
According to Spelman College President Dr. Helene Gayle’s statement, the generous donation “invigorated and inspired” the school. “This gift is a critical step in our school’s mission to eliminate financial barriers to starting and finishing a Spelman education,” Gayle said.
“We can’t thank Ronda Stryker enough for her selflessness and support as both a trustee and friend,” Gayle added. “There’s no doubt that Spelman College is better because of her.” Spelman said it would use $75 million to endow scholarships after the announcement.
However, the school plans to use the rest of the money for other purposes. These purposes include developing an academic focus on public policy and democracy and improving student housing, a sore point in recent years among Spelman students. “It’s a transformational gift to any institution, period,” trustee Lovette Russell said.
HBCUs have small endowments, unlike other colleges. However, they have seen an increase in donations since the racial justice protests spurred by the killing of George Floyd. Spelman, which has over 2,000 students, has been relatively well-funded. The school reported an endowment of $571 million in 2021.
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“I think it says that it’s worth investing in HBCUs, schools people underinvest in,” Gayle said. Stryker has been a Spelman trustee since 1997. Before this huge donation, she and Johnston gave Spelman $30 million in 2018. Also, they gave $100 million in 2011 to create the Homer Stryker Medical School at Western Michigan University.
However, the Spelman donation came a week after the United Negro College Fund announced a donation. The UNCF announced receiving $100 million from the Lilly Endowment Inc. According to the fund, the money will go to the 37 historically Black colleges and universities that form UNCF’s membership.
These institutions include Spelman, intending to boost the school’s long-term financial stability. While speaking about the donation, Stryker said she cares deeply for the sisterhood the college has created. Also, she said education is powerful and transformational for women.
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“I have seen firsthand the enormous impact financial investment has generated for Spelman’s highly talented students,” Stryker said. “It’s important to me that all women get an opportunity to explore their talents, challenge their self-doubts, and realize the power of achieving individual success.”
Aside from Stryker and Johnston’s donations, HBCUs have gotten other significant donations in recent years. These include $560 million from Mackenzie Scott, ex-wife of Amazon founder Jeff Bezos, and $120 million from Reed Hastings and his wife, Patty Quillin.
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