Billionaire philanthropist and former New York City Mayor Michael Bloomberg has once again demonstrated his commitment to supporting Historically Black Colleges and Universities (HBCUs) with a new initiative aimed at creating educational pathways for Black students from an early age.
On December 4, 2025, Bloomberg Philanthropies and the nonprofit City Fund announced a $20 million joint commitment—$10 million from each—to fund the development of public charter schools in partnership with HBCUs. The goal is to establish direct “pipelines” from K-12 education to higher education at these historic institutions, fostering college readiness and career success for Black students.
The initiative kicks off in Alabama, supporting two charter schools:
- I Dream Big Academy on the campus of Stillman College in Tuscaloosa, which has already opened as the state’s first HBCU-charter school partnership.
- A new charter school near Tuskegee University, converting the existing D.C. Wolfe Elementary School in Shorter, Alabama, is expected to open in fall 2026.
These schools will offer students unique opportunities, including dual-enrollment courses at the partnering HBCUs, community internships, and potential direct admission pathways. Additional models may include shared campuses, teaching fellowships for HBCU students, and governance collaborations.
The United Negro College Fund (UNCF) is a key partner, providing guidance and advocacy. Long-term plans include expanding the model across Alabama, the South, and eventually nationwide.
Howard Wolfson, who oversees Bloomberg Philanthropies’ education portfolio, stated: “We’re proud to partner with City Fund and UNCF on this innovative initiative that brings together the proven success of HBCUs with the strong results of public charter schools.”