VSU RECEIVES A PORTION OF $35 MILLION DOMINION ENERGY FUNDS
Published date: July 23, 2020
Dominion’s “HBCU Promise” Promotes Equity in Higher Education
VIRGINIA STATE UNIVERSITY, VA. - Dominion Energy (NYSE: D) today announced that Virginia State University is among 11 historically black colleges and universities in Virginia, Ohio, North Carolina and South Carolina that will receive support through a $35 million initiative aimed at promoting higher education equity. The six-year “HBCU Promise” program will provide $25 million in funding to select institutions. Additionally, a $10 million scholarship fund will support African American and underrepresented minority students across the company’s service territory.
Said Thomas F. Farrell, II, the company’s chairman, president and chief executive officer, “We have all been witness to our country's evolving conversation on race and social justice. The country is changing, and we have been looking for ways that we can make a difference. Investing in these important institutions – which serve as a springboard for social and economic mobility for so many – is one way we can help.”
“We are grateful for Dominion’s nearly 40 years of volunteer and financial support to HBCUs,” says VSU President, Dr. Makola M. Abdullah. “This initiative will make an impactful difference at VSU as we continue providing a transformative educational experience to our students.”
In selecting the institutions, Dominion looked at a range of factors, including locations with a significant customer presence, past partnerships and opportunities to make immediate impact. In structuring the partnerships, the company will focus on four general areas: operating needs, urgent capital needs, endowment and scholarships. Some details remain to be worked out. But Dominion Energy plans to tailor packages to the needs of each institution. The four Virginia schools are Virginia State University, Virginia Union, Hampton, and Norfolk State.
Details about the Dominion Energy Educational Equity scholarship fund will be provided later.