Charles R. Drew University of Medicine and Science Announces Largest Gift in Its History from Bloomberg Philanthropies
Source: CDU Office of Strategic Advancement
LOS ANGELES, CA – August 6, 2024 – Today at the National Medical Association’ s Annual Convention and Scientific Assembly, Bloomberg Philanthropies announced a new $ 600 million gift to help bolster the endowments of the nation’ s four Historically Black Medical Schools, including $ 75 million for Charles R. Drew University of Medicine & Science. This gift is the largest in Charles R. Drew University of Medicine and Science’ s history, representing an important investment in the future of healthcare and the university.
“ This monumental gift from Bloomberg Philanthropies is a transformative investment in the future of healthcare, our university, and most importantly, our students,” shared Dr. David M. Carlisle, President and CEO of Charles R. Drew University of Medicine and Science.“ 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.” Bloomberg Philanthropies’ investment is part of its Greenwood Initiative – an effort that seeks to advance racial wealth equity by addressing systemic underinvestment in Black institutions and communities. The funding will fuel the Historically Black Medical Schools’ long- established commitments to diversifying the medical field and training the next generation of doctors. Increasing the schools’ endowments will strengthen their financial stability and institutional capacity to respond to the rising costs of tuition, innovative research, and operations. The new funding will increase the size of CDU’ s endowment, representing a significantly transformational moment
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