/Netflix CEO donates $10 million to Tougaloo College

Netflix CEO donates $10 million to Tougaloo College

As part of their efforts to financially support historically Black colleges, the couple announced a $10,000,000 donation to Mississippi News Tougaloo College. At a press conference, Carmen Walters (Tougaloo’s president) said that the donation would be split equally with Brown University. Tougaloo will use the remainder to increase its $22 million endowment, and create a need-based scholarship that is available for students of low income. The $5 million remaining will be used to create a scholarship fund at Brown University, Rhode Island. This fund will support students participating in the long-standing academic partnership between the colleges. Hastings’ contribution is the largest ever received by Brown-Tougaloo Partnership in its 58-year history. After state legislators attempted to repeal Tougaloo’s charter during civil rights movements, the partnership was established in 1964. Walters stated that the $5 million scholarship fund will provide support for at least 10 undergraduates and four graduate students each year. Sandra Hodge (Vice President for Institutional Advancement) said that the donation was “transformational” and will support at least 10 undergraduate students. Four graduate students will also benefit from the scholarship fund each year. He decided to support a historically Black college because he had realized in the past 10 years that the economic disparities in wealth, assets, and endowments were “pretty profound and totally unfair.” Walters spoke about the importance of Tougaloo’s role in Mississippi. She said that the college is an “economic engine” and has historically trained about 40% of Black dentists and physicians in Mississippi.