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The Diageo gift will be used to create a permanent endowment fund and thereby provide more financial support for students. | PHOTO COURTESY OF DSU[/caption]
DOVER – Delaware State University received $250,000 from Diageo North America on Feb. 3 to create a permanent endowment fund and provide financial aid grants to talented students across different disciplines and majors.
This is part of a broader innovative program that Diageo North America announced to support 25 historically Black colleges and universities (HBCUs), focused on building opportunities to develop future leaders and help shape a more equitable society. The initiative is expected to benefit thousands of students over the years across the country.
The university recently enhanced its endowment to nearly $40 million and is looking to build a $100 million over the next decade. DSU President Tony Allen noted the importance of the gift.
“As we continue to build a growing portfolio of endowed funds, we are also fulfilling the most critical element of our mission – successfully getting our students across the finish to take their rightful place of usefulness and honor in the world," he said in a statement. "Our endowment generates significant financial support for our students at times when they needed financial support the most. Diageo’s investment is an exceptional example of how great companies can invest in the university’s long-term interest and help meet our immediate needs."
With a goal of helping to change the complexion of the industry, Diageo North America has also committed to taking a step to build a pipeline of talented leaders through an internship platform over the coming years, and Delaware State University will be part of it. The company will provide opportunities for HBCU students to gain valuable work experience at a fast pace that could help them with their future career aspirations or jumpstart their career in the consumer goods industry.
“We are proud to partner with these esteemed institutions and to do our part to help shape a more equitable society by providing opportunities for future leaders,” said Debra Crew, president of Diageo North America, in a statement. “This initiative further deepens Diageo’s commitment to making a long-term and sustainable impact on underrepresented communities.”
This initiative was created by working closely with Diageo North America’s African Heritage Business Resource Group (A.H.E.A.D.) to focus on the priorities and actions, along with the right partnerships, to make the most meaningful impact in the Black community.
To learn more about Diageo’s work to support the communities where it operates, including company values, visit http://www.diageo.com.
