Florida A&M University (FAMU) Receives $237 Million Gift


Venom Skywalker

Venom Skywalker

S. Enigma
🚨 BREAKING NEWS 🌎 Florida A&M University (FAMU) Receives $237 Million Gift from the Issac Batterson 7th Family Trust and CEO Gregory Gerami.

#FAMU received a $237 million gift to support student success initiatives and athletics. This is one of the largest gifts given to an #HBCU.

Thank you Mr. Gerami for your generous donation!

Read more about this historic moment at FAMUNews.com
 
www.tallahassee.com

Graduation surprise: FAMU gets record $237M gift from Batterson Farms CEO Gregory Gerami

The donation is nearly double the size of the existing FAMU endowment and represents one of the largest single personal donations to a HBCU in history.
www.tallahassee.com

It also is almost double FAMU's existing endowment and one of the largest donations in HBCU history.

As the money will support academic initiatives, student success and athletics, it adds to the FAMU Foundation’s current endowment value of $160 million and will bring it up to nearly $400 million.
 



I'm adding this here because the gift was stated to be used for academics and athletics but essentially it increases our endowment to almost 400 million. We now have the 3rd highest endowment of any HBCU behind Howard and Spelman. We aint as broke as we used to be 😁😁

www.tallahassee.com

Graduation surprise: FAMU gets record $237M gift from Batterson Farms CEO Gregory Gerami

The donation is nearly double the size of the existing FAMU endowment and represents one of the largest single personal donations to a HBCU in history.
www.tallahassee.com

It also is almost double FAMU's existing endowment and one of the largest donations in HBCU history.

As the money will support academic initiatives, student success and athletics, it adds to the FAMU Foundation’s current endowment value of $160 million and will bring it up to nearly $400 million.

hbcumoney.com

HBCU Money’s 2023 Top 10 HBCU Endowments

“Note: These data are based on colleges, universities, affiliated foundations, and related nonprofit organizations that volunteered to participate in NACUBO’s endowment study series.&#8…
hbcumoney.com hbcumoney.com
 
Related:

Behind the quick collapse of Coastal Carolina University securing a $95 million donation​




Gerami said his relationship with CCU began because he was dating someone at the time associated with the university, and he had “some tax things” he needed to offset.

But Gerami said he felt disrespected by two other officials, one of whom is no longer with university, including one interaction he described as racism and another where he was being asked inappropriate personal questions that weren’t relevant to his potential donation.

“I just decided enough is enough, and this isn’t working for me,” he said. “I have no ill feelings toward Coastal. I just think we were doing too much and weren’t dating long enough to be spending that kind of money on dates if that makes any sense.”

Note: Gregory Gerami spent several days on the FAMU campus ahead of the big announcement. The gift is already in the University’s Foundation account.
 
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www.famunews.com

FAMU Receives $237M Gift from the Issac Batterson 7th Family Trust and CEO Gregory Gerami - FAMU Forward

Florida A&M University (FAMU) received a $237.75 million gift from the Issac Batterson 7th Family Trust and Chief Executive Officer Gregory Gerami to support student success initiatives and athletics. The donation is nearly double the size of the FAMU Endowment value – $121 million – and...
www.famunews.com www.famunews.com

Gerami’s vision for the future of farming led to plans for the largest African American commercial hydroponic warehouse in West Texas. With a focus on cultivating industrial hemp for various applications, including pediatric cancer therapeutics research, his commitment to sustainable agriculture and community welfare is evident.

Gregory Gerami spent several days on the FAMU campus ahead of the big announcement. The gift is already in the University’s Foundation account.
 
educationnewsflash.substack.com

For the Love of Money, has FAMU been fooled?

Two days ago, I was talking to a Florida A&M University graduate about FAMU’s progress. The alum rattled (hehe) off all of the ways that FAMU was doing well. The alum did say that one weak spot was the endowment. With FAMU’s roster of successful alumni who are leaders in law, corporate America...
educationnewsflash.substack.com educationnewsflash.substack.com
 



If this is a scam I will be the first to call on the entire administrations resignation if for no other reason than public embarrassment. With that said it would it would leave us no worst off than where we currently are today, the 6th wealthiest HBCU instead of the 3rd. The luck we've had in receiving this donation falls in line with some of the other luck we've seen over the last few years. In 2019 we took out a $120 mil loan to build a 700 bed dorm just for the debt to be wiped out by the Covid Relief bill. Combining those savings with the money from this donation would really be transformational. I'll feel a lot better when those stocks have been converted to cash.
 
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Venom Skywalker said:
If this is a scam I will be the first to call on the entire administrations resignation if for no other reason than public embarrassment. With that said it would it would leave us no worst off than where we currently are today, the 6th wealthiest HBCU instead of the 3rd. The luck we've had in receiving this donation falls in line with some of the other luck we've seen over the last few years. In 2019 we took out a $120 mil loan to build a 700 bed dorm just for the debt to be wiped out by the Covid Relief bill. Combining those savings with the money from this donation would really be transformational. I'll feel a lot better when those stocks have been converted to cash.
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I find it absolutely amazing how some kneegrows—broke-ass kneegrows at that—who probably don't own any stocks nor have a family trust themselves are suddenly experts and feel emboldened to ask whether FAMU is getting shafted.

I'd much rather rely on the expertise of the people listed on the FAMU board than some of these folks who want to give you the impression they know what they are talking about but have no clue. Congrats to you, FAMU. I hope all works out well.
 
How big of a networth does one need to have to feel comfortable giving away 237 million.

Robert smith ($9 billion nw) put up $50 million for morehouse and even he was trying to get away from Fed charges.
 
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