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Charles R. Drew Univ. of Medicine and Science Receives $75 Million Gift

The university, founded in 1966, received a donation from the Bloomberg Philanthropies’ Greenwood Initiative. That program aims to accelerate wealth accumulation in the Black community, addressing underinvestment, said university officials in a statement.

Published

2 years ago

August 18, 2024

Oakland Post

Courtesy of Charles. R. Drew University of Medicine and Science.

By Bo Tefu, California Black Media

Charles. R. Drew University of Medicine and Science, a historically Black university (HBCU) in South Los Angeles, received a $75 million gift last week, the largest donation in the history of the university.

The university, founded in 1966, received a donation from the Bloomberg Philanthropies’ Greenwood Initiative. That program aims to accelerate wealth accumulation in the Black community, addressing underinvestment, said university officials in a statement.

Dr. David M. Carlisle, the university president and chief executive officer, appreciated the initiative’s generous donation.

“This monumental gift from Bloomberg Philanthropies is a transformative investment in the future of healthcare, our university, and most importantly, our students,” said Carlisle.

“It will significantly enhance Charles R. Drew University of Medicine and Science’s ability to educate and empower diverse healthcare professionals who are committed to serving underserved communities,” he said.

The university received the donations as part of a $600 million initiative led by Bloomberg Philanthropies to support Black medical schools. The organization also invested in Howard University College of Medicine in Washington, D.C., Meharry Medical College in Nashville, and Morehouse School of Medicine in Atlanta. The initiative confirmed that it will also help launch the Xavier Ochsner College of Medicine in New Orleans.

The Greenwood Initiative is led by the former New York City Mayor billionaire Michael Bloomberg, founder of Bloomberg Philanthropies and Bloomberg LP.

“Addressing health disparities and underrepresentation in the medical field are critical challenges, and Bloomberg Philanthropies is dedicated to making a difference. By building on our previous support, this gift will empower new generations of Black doctors to create a healthier and more equitable future for our country,” said Bloomberg.