Charles R. Drew University of Medicine and Science Announces Largest Gift in Its History from Bloomberg Philanthropies( continued)
in the history of the university. Funding levels were determined by current class size and anticipated growth. Michael R. Bloomberg made the announcement in person at the event.“ We have much more to do to build a country where every person, regardless of race, has equal access to quality health care – and where students of all backgrounds have an equal opportunity to pursue their dreams,” said Michael R. Bloomberg, founder of Bloomberg Philanthropies and Bloomberg L. P.“ Diversifying the medical field and tackling health inequality are society- wide challenges, and Bloomberg Philanthropies is committed to helping to lead the way in tackling them. This gift builds on our earlier investment in these vital institutions, and it will help new generations of Black doctors build a healthier and more equitable future for our country.”
Research has shown that Black people have better health outcomes and receive medical care more frequently when they are treated by Black physicians. Further, Black patients are 34 percent more likely to receive preventative care if seen by Black doctors. Yet, data shows that while the U. S. population is 13 percent Black, only 7 percent of medical school graduates and less than 6 percent of all practicing doctors are Black. Debilitating health problems take an enormous economic toll on families and communities so creating more Black doctors will help to address racial wealth inequities.
The four Historically Black Medical Schools alone graduate around half of all Black doctors in the U. S. but have significantly underfunded endowments as a result of systemic funding inequities including lower federal and state support. Since the early 1900s, underinvestment and other discriminatory practices led to the closing of ten Black medical schools in the United States.
“ It is impossible to overstate the monumental impact of a gift of this size! CDU’ s MD program is new, and this donation adds a level of stability that will further our capacity to improve the health, economic development, and opportunities for the children in our surrounding communities and others like them. As the founding dean for the program, I can only say WOW- this is a dream come true,” said Dr. Deborah Prothrow- Stith, Dean of CDU’ s College of Medicine.
“ Our students will benefit immensely from the expanded opportunities and resources this donation provides, helping them to become leaders dedicated to health equity and social justice,” added Dr. Carlisle.“ We are profoundly grateful for this historic gift, whose impact will be felt in South Los Angeles, California, United States, and globally for generations to come.”
In 2020, Bloomberg Philanthropies gave $ 100 million to the four Historically Black Medical Schools, including $ 7.7 million to Charles Drew University of Medicine and Science, which at the time was the largest philanthropic gift from a single donor to CDU. This previous support helped pave the way for the university to get Preliminary Accreditation from the Liaison Committee on Medical Education( LCME) in 2022 to build our historic 4- Year MD program and open the door to its first cohort in Fall 2023, which admit 60 new mission- driven future physicians each year to address the physician shortage and improve diversity in the medical workforce.
“ Bloomberg Philanthropies’ Greenwood Initiative understands that inequity in our healthcare systems is far too great a cost to our economy and our collective well- being,” said Garnesha Ezediaro, who leads Bloomberg Philanthropies’ Greenwood Initiative.“ Our continued partnership will build the institutional wealth of the Historically Black Medical Schools, boosting their ability to provide the best training possible for current and future students. Ultimately, the benefits of this gift will be realized in the communities where the next generation of Black doctors practice and among patients who receive their care.”
The gifts to the Historically Black Medical Schools’ endowments are part of Bloomberg Philanthropies’ Greenwood Initiative which includes strategic investments such as the Black Wealth Data Center and its Racial Wealth Equity Database – created to provide public and private sector leaders with actionable data to advance racial wealth equity policies and strategies; Cities for Financial Empowerment Funds’ CityStart Initiative – focused on working closely with local leaders to create wealth building strategies for the residents they serve; and Bloomberg American Sustainable Cities, a $ 200 million initiative that provides support to 25 U. S. cities to address the climate crisis while advancing racial wealth equity. Together these initiatives seek to implement, scale, and advocate for efforts that will help improve local conditions by acquiring resources, expanding community ownership, and increasing influence through economic power.
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