Sarah Seavey’s Post

I love this! I hope the awards come with a stipulation, or at least an encouragement, to have those endowments also managed by predominantly Black OCIOs (outsourced chief investment offices) and managers. Moving large sums of money right back into the hands of the usual suspects feels counter productive otherwise. We need to normalize asking..."who's managing and controlling that?" #NextEconomy #OCIO #investmentmanagement

Bloomberg Philanthropies made an unprecedented $600 million donation to four historically Black medical schools—Howard University College of Medicine, Meharry Medical College, Morehouse School of Medicine, and Charles R. Drew University of Medicine and Science University—marks a significant milestone in the fight for health equity. This landmark investment demonstrates how private industry and academic partnerships can prepare the next generation of physicians and address critical health disparities. By strengthening the financial foundations of these historically Black institutions, this funding empowers them to continue their mission of diversifying the medical field. Increased endowments mean better management of tuition costs, more innovative research opportunities, and enhanced support for the academic and professional development of future Physicians. Evidence shows that Black patients have better health outcomes when treated by Black physicians, yet only 6% of U.S. doctors are Black. This partnership between Bloomberg Philanthropies and HBCU medical schools is a powerful example of how strategic investments can create lasting change. Advancing Health Equity is dedicated to partnering with organizations on their journey to eliminate bias and discrimination in healthcare, cultivate an equitable organizational culture, and improve health outcomes. Join us in celebrating this significant step towards a more equitable healthcare future! #HealthEquity #MedicalEducation #HBCUMedicine #FuturePhysicians #EquitableHealthcare #HealthDisparities #DiverseMedicalWorkforce #PhilanthropyInAction #HealthcareTransformation #BreakingBarriers https://lnkd.in/e4BG9uDa

With a $1 billion gift to Albert Einstein College of Medicine, philanthropist Ruth Gottesman will leave a lasting impression on many. College students will not have to pay tuition to get their advanced medical degree. 🎓 While most of us don’t have $1 billion to leave behind, the principles of gifting can be something to consider for your legacy. Read more in this article from @NBCNews ⬇️ 🌐 https://nbcnews.to/4ckjIzR #estateplanning #taxdeductiblegift #taxplanning #legacy #philanthropy #willsandtrusts

With a $1 billion gift to Albert Einstein College of Medicine, philanthropist Ruth Gottesman will leave a lasting impression on many. College students will not have to pay tuition to get their advanced medical degree. 🎓 While most of us don’t have $1 billion to leave behind, the principles of gifting can be something to consider for your legacy. Read more in this article from @NBCNews ⬇️ 🌐 https://nbcnews.to/4ckjIzR #estateplanning #taxdeductiblegift #taxplanning #legacy #philanthropy #willsandtrusts

I was recently in a meeting at Tougaloo College when the NAACP shared that a handful of the nation's most well-endowed universities raise more money per day than nearly every HBCU in America raises annually, per capita. Keep that in mind when considering the following stats shared in the article below: 1) 13% of America's population is Black; only 6% of physicians are Black 2) HBCUs produce 70% of the nation's Black physicians. The notion that "HBCU's produce an outsized impact" in the United States must become more than a convenient talking point in speeches. Props to Bloomberg Philanthropies and all the people behind the scenes who we'll never know that fought for and shaped this historic investment. More is needed from more with more. https://lnkd.in/gvvKrZwt

🗣️ The U.S. needs more Black #doctors. That’s why #MeharryMedicalSchool in #Nashville just got $175M. + Catherine Sweeney Nashville Public Radio-WPLN 90.3 and 1430 a.m. The U.S. needs more Black doctors. That’s why Meharry Medical School in Nashville just got $175M. "Meharry Medical College secured its largest #donation ever — $175 million. The Bloomberg Philanthropies funding is going into the school's endowment. Meharry Medical College in Nashville secured its largest donation ever on Tuesday as part of a broader investment in #physiciantraining at historically black colleges and universities. There are only four #HBCUs with #medicalschools in the country. Bloomberg Philanthropies is investing in all of them. That will include a donation of $175 million to Meharry’s endowment. It’s part of an ongoing initiative to address #systemic #underinvestment in #Blackinstitutions. One of Meharry’s missions is fighting #racialhealthdisparities. Dr. James E.K. Hildreth, the Meharry #CEO, says making sure #patients can seek care from #providers with a shared #cultural background is one of the ways it can further that mission. “Mr. Bloomberg made the observation that these four schools contribute half of all the Black doctors in the country,” Hildreth said. “And if you think about there being 170 #medicalschools, that’s quite extraordinary.” #Healthdisparities measure preventable differences in #healthoutcomes. For example, Black #Tennesseans under 75 die from #preventable causes at a rate 30% higher than white Tennesseans, according to the Robert Wood Johnson Foundation. #Blackwomen in Tennessee are 2.3 times more likely to die of #pregnancy and #childbirth-related causes than white women."" - ... #healthcare #physicians #doctors #blackdoctors #blackhealthmatters #blackcommunities #patientoutcomes #patientcare #medicalstudents #healthcareers #blackmen #peopleofcolor #leadersinhealthcare

Bloomberg Philanthropies is making a $600 million donation to four historically Black medical schools, a gift that will more than double the endowments at three of the four institutions. Howard University College of Medicine in Washington, D.C.; Meharry Medical College in Nashville, Tenn.; and Morehouse School of Medicine in Atlanta will each receive a gift of $175 million, Bloomberg Philanthropies said Tuesday. Charles R. Drew University of Medicine & Science in Los Angeles will receive $75 million. The donation is part of an effort—called the Greenwood Initiative—to support the education of future doctors at HBCUs and address systemic inequity in healthcare and underinvestment at these institutions, Bloomberg Philanthropies said. “Ultimately, the benefits of this gift will be realized in the communities where the next generation of Black doctors practice and among patients who receive their care,” said Garnesha Ezediaro, head of Bloomberg’s Greenwood Initiative. The organization gave $100 million to the four schools in 2020, which at the time was the largest donation the historically Black colleges and universities had received from a single donor. The 2020 donation helped reduce the student debt of nearly 1,000 future Black doctors, Bloomberg said. Historically Black colleges have seen interest from prospective students rise in recent years. But the country’s roughly 100 HBCUs generally have tiny endowments, have tight budgets and cater to students with significant financial need, making growth a challenge. Philanthropists including Bloomberg, MacKenzie Scott and the Gates Foundation have made donations to HBCUs in recent years to boost their endowments. “Addressing health disparities and underrepresentation in the medical field are critical challenges,” said billionaire Michael Bloomberg, founder of Bloomberg Philanthropies and Bloomberg LP. “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.” It is the latest donation made by Bloomberg to support medical students. Last month, Johns Hopkins University was given $1 billion from Bloomberg, which will allow medical students from families earning under $300,000 to receive free tuition starting this fall. 

This article is worth thinking more about. It suggests that the gravitational pull of the "philanthropic happening"--the spectacular philanthropic intervention that is catnip to the press and general public (I include myself here, based on my own reaction), attractive to donors, and encouraged by development offices and by media framings--might be limiting the impact of mega-philanthropy. https://lnkd.in/eeuujXx4

A $1 billion gift from Ruth L. Gottesman, Ed.D., Chair of the Einstein Board of Trustees and Montefiore Health System board member, makes it possible for a medical school to offer free tuition to every student forever. Note that the money didn't come from the government. It came from a private donor. Hmmm, what if many more billionaires and millionaires did the same thing? The tuition crisis in America could be solved overnight. Applying that same logic, what if everyone everywhere banded together to put their time, talents, and treasures together to solve our biggest social issues? That would be the "beloved community" Dr. Martin Luther King Jr. talked about. We have the power to change everything. Do we have the will? If you have the will, but don't know where to start, or want to plug in with other like-minded people, visit L.O.V.E. Is The Answer to learn how you can help transform your community into a beloved community. https://lnkd.in/e2-u5MkV