After Jeff Bezos’ ex-wife MacKenzie Scott philanthropy, JPMorgan Chase’s Jamie Dimon and wife Judith donate $12 million to 12 HBCUs: Full list

Jamie Dimon is best known for steering JPMorgan Chase through some of the biggest financial and economic shifts of the past two decades. Away from Wall Street, however, Dimon and his wife, Judith, have quietly backed education and career opportunities for young people through their family foundation.

The James and Judith K. Dimon Foundation has now committed $12 million to 12 historically Black colleges and universities (HBCUs), with the money going toward permanent endowments at the institutions. The United Negro College Fund (UNCF) announced the donation on August 20. The contribution establishes the Dimon Fund to Advance Economic Opportunity and forms part of UNCF's broader $1.5 billion capital campaign.

Also Read; In 2016, Dolly Parton gave $1,000 per month for six months to Tennessee wildfire victims, raising $8.9 million Through My People fund


Rather than being used for a one-time project, the money will provide long-term endowment support. The selected colleges will also receive a $5 million institutional match from UNCF's pooled endowment fund.

Why Jamie Dimon and his wife are donating millions of dollars to HBCUs

The Dimons said their own family backgrounds shaped their belief in education and upward mobility. “As the children of first-generation high school and college graduates,” Jamie and Judith Dimon said, they were raised with “a thirst for knowledge and a drive to succeed.”

They said those values were passed on to their children and are now part of the reason they want to support students at the selected HBCUs.

The institutions receiving the latest funding were chosen partly for their work preparing students for professions facing strong demand, including teaching, nursing and other healthcare careers.

For the colleges, an endowment can be particularly valuable because it provides a source of funding that can support institutions over a much longer period. Instead of relying entirely on annual fundraising, colleges can use permanent capital as part of their long-term financial planning.

12 HBCUs receiving the Dimon Foundation funding

The $12 million donation will be shared among 12 historically Black colleges and universities:

1. Benedict College in Columbia, South Carolina
2. Dillard University in New Orleans
3. Edward Waters University in Jacksonville, Florida
4. Huston-Tillotson University in Austin, Texas
5. Jarvis Christian University in Hawkins, Texas
6. Johnson C. Smith University in Charlotte, North Carolina
7. Miles College in Fairfield, Alabama
8. Oakwood University in Huntsville, Alabama
9. Shaw University in Raleigh, North Carolina
10. Stillman College in Tuscaloosa, Alabama
11. Tuskegee University in Tuskegee, Alabama
12. Voorhees University in Denmark, South Carolina

Jamie Dimons have been funding education initiatives for years

The latest contribution is not an isolated act of philanthropy. The James and Judith K. Dimon Foundation, founded in 1996, has supported programs aimed at education and economic mobility. According to data cited from its most recent tax filing, the foundation distributed more than $9 million in 2024, with much of the funding directed toward public education and career development.

Also Read: Dolly the sheep was named after Dolly Parton, but do you know the reason? Here’s how the world’s first adult-cell clone got its name from the country music legend

Judith Dimon, who serves as president of the foundation, has focused much of its grantmaking on career-connected education for New York City public school students.

The foundation also helped launch FutureReadyNYC, an initiative designed to provide 100,000 students with hands-on career experiences by 2030.

Jamie Dimon has previously served on the UNCF board, giving the latest donation another connection to an organisation focused on expanding opportunities for students at HBCUs.

Private philanthropy gains importance for HBCUs

The donation comes at a time when the financial outlook for parts of the US higher education system has become less predictable.

HBCUs have historically relied on a combination of federal support, private donations, tuition and other funding sources. Changes in federal education policy and disruptions at the Department of Education have added another layer of uncertainty for institutions trying to plan years ahead.

The Trump administration's approach to federal education funding has also prompted debate among higher education experts. During the 2025 government shutdown, the Department of Education stopped issuing new grants and furloughed most employees who were not involved in federal student aid.

The department had announced an increase in funding for HBCUs and tribally controlled colleges and universities, but critics questioned how that support would fit with broader efforts to reduce or reorganise the federal education system.

After the government reopened, several grant programmes were shifted to other federal agencies as the administration pursued its stated goal of dismantling the Department of Education.

Jamie Dimon is not the only billionaire supporting HBCUs

The Dimons' contribution comes amid a wider wave of large private donations to historically Black colleges. Billionaire philanthropist MacKenzie Scott has also directed hundreds of millions of dollars toward HBCUs and related organisations. Her donations have provided institutions with significant unrestricted or flexible funding at a time when many colleges are looking for ways to strengthen their finances.

For the Dimons, the focus is on creating lasting institutional support rather than simply financing a short-term programme.

That distinction matters. An endowment is designed to keep generating financial support over time, giving colleges more room to invest in students, faculty and academic programmes without depending on a new fundraising campaign every year.

For the 12 HBCUs receiving the latest Dimon Foundation gift, the $12 million contribution is therefore more than a headline-sized donation. It is intended as a long-term investment in the institutions and the students they serve.