The UNCF fund will provide permanent endowment capital to 12 HBCUs, including JCSU, as the Charlotte university remains on accreditation probation through 2026-27.
Johnson C. Smith University (JCSU) is among 12 historically Black colleges and universities set to receive $1 million each through a new $12 million philanthropic fund announced Thursday by UNCF and The James and Judith K. Dimon Foundation.
The gift establishes The Dimon Fund to Advance Economic Opportunity within UNCF’s ongoing $1.5 billion capital campaign, directing permanent endowment capital to a group of HBCU member institutions. According to the release, schools were selected “for the strength of their leadership and governance and for their proven record of preparing educators, nurses, and other healthcare professionals.”
The announcement comes as JCSU continues to navigate a period of financial scrutiny. The school’s accreditor, the Southern Association of Colleges and Schools Commission on Colleges, placed the university on probation last year over concerns about financial responsibility and oversight, according to reporting by The Charlotte Observer. The probation, which is the most serious public sanction SACSCOC issues short of revoking accreditation, was extended this summer through the 2026-27 academic year. SACSCOC said JCSU had made meaningful progress but wanted more time to confirm that the changes could be sustained.
According to The Charlotte Observer, JCSU President Valerie Kinloch said the school completed a clean financial audit during the 2025-26 school year.
Michael Lomax, UNCF president and CEO, said the endowment structure was intentional.
“Endowments create permanence. Permanence creates independence. Independence creates the freedom to innovate, to lead, and to serve generations of students,” Lomax said, according to the release.
The other 11 schools receiving funding are Benedict College, Dillard University, Edward Waters University, Huston-Tillotson University, Jarvis Christian University, Miles College, Oakwood University, Shaw University, Stillman College, Tuskegee University and Voorhees University.
Johnson C. Smith University did not respond to a request for comment.
Taylor Jennings-BrownEditor
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