Philanthropist and former New York City Mayor Michael Bloomberg today announced that Bloomberg Philanthropies has awarded a $175 million gift to Meharry Medical College to strengthen the College’s endowment and its capacity to advance health equity worldwide. The gift is the largest in Meharry’s history, significantly enhancing its endowment and fueling its long-term efforts to diversify the medical field and train the next generation of doctors.
Meharry Medical College is one of the black colleges supported by the Black College Fund which provides financial support to maintain solid, challenging academic programs; strong faculties; and well-equipped facilities.
“Today is a momentous day for Meharry Medical College, elevating and accelerating our mission to serve the underserved of our nation and world,” said Meharry Medical College President and CEO Dr. James E.K. Hildreth. “Meharry holds a distinct place in the health care infrastructure as the oldest and largest independent historically Black academic health sciences center in the nation. For nearly 150 years, Meharrians have committed their lives to eliminating disparities and improving health equity, often in the face of significant discrimination, injustice and adversity. This historic investment by Bloomberg Philanthropies is a testament to Meharry’s legacy and to the promise of Meharrians to transform the future of health care for the betterment of all.”
The commitment is part of a combined $600 million investment by Bloomberg Philanthropies in the nation’s four historically Black medical schools, which, in addition to Meharry, include Charles R. Drew University of Medicine and Science, Howard University College of Medicine and Morehouse School of Medicine. Bloomberg Philanthropies also contributed seed funding to support the creation of Xavier Ochsner College of Medicine, a new medical school in New Orleans.
The funding is part of Bloomberg Philanthropies’ Greenwood Initiative, which seeks to advance racial wealth equity by addressing systemic underinvestment in Black institutions and communities.
“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 from all backgrounds can pursue their dreams,” Bloomberg said in the announcement. “Addressing health disparities and underrepresentation in the medical field are critical challenges, and Bloomberg Philanthropies is dedicated to making a difference. By building on our previous support, this gift will empower new generations of Black doctors to create a healthier and more equitable future for our country.”
Founded in 1876, Meharry Medical College was the first medical school in the American South to train and care for Black people. Today, the college includes five schools: the School of Medicine, the School of Dentistry, the School of Graduate Studies, the School of Applied Computational Sciences and the School of Global Health. Thousands of physicians, dentists, researchers, data scientists and public health experts educated by Meharry have gone on to pursue the College’s mission to serve the underserved in rural and urban communities around the world.
Meharry is determined to eliminate health disparities and increase equity and access by creating a more diverse workforce in the U.S. Research has shown that Black patients have better health outcomes when they receive care from a Black provider. Yet, while 13 percent of the U.S. population is Black, fewer than 6 percent of doctors are Black, creating a vast equity gap in health care.
Meharry and its fellow historically Black medical schools collectively educate approximately half of Black doctors in the U.S.—however, these institutions continue to have underfunded endowments due to systemic funding inequities. The commitment by Bloomberg Philanthropies directly confronts these historic funding inequities by establishing long-standing financial security to guarantee Meharry continues to fulfill its mission of serving the underserved.
Meharry Medical College website, Nashville, Tennessee
One of seven apportioned giving opportunities of The United Methodist Church, the Black College Fund provides financial support to maintain solid, challenging academic programs; strong faculties; and well-equipped facilities at 11 United Methodist-related historically black colleges and universities. Please encourage your leaders and congregations to support the Black College Fund apportionment at 100 percent.
