Howard University College of Medicine secures landmark $175 million endowment from Bloomberg Philanthropies

Howard University is set to receive US$175 million to support the endowment of its College of Medicine. Howard University President Ben Vinson III, Ph.D., described the endowment as an “unreservedly transformational gift” for the institution.

“Endowment support has traditionally been an area of underinvestment for Historically Black Colleges and Universities (HBCUs), but today’s gift is an extraordinary vote of confidence in the lasting benefits of such support,” said President Vinson. “Thank you to Mike Bloomberg and the Bloomberg Philanthropies’ Greenwood Initiative for your inspiring leadership and commitment to addressing the racial wealth gap and decades of underinvestment in Black communities.”

This unprecedented endowment provides Howard’s College of Medicine with the opportunity to train and develop more medical professionals to serve communities of color. Currently, Black physicians and doctors comprise only 5.7 percent of their field. Each year, 1,200 Black students graduate from medical school, with 400 of those graduates having matriculated at HBCUs.

A 2023 study published in the Journal of the American Medical Association (JAMA) found that, due to racism and discrimination in American medicine, patients of color have better health outcomes when cared for by doctors, nurses, and medical staff of color.