LeMoyne-Owen College is named the beneficiary of a $40 Million Endowment at the Community Foundation of Greater Memphis.
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Recent News
July 2nd, 2020
LeMoyne-Owen College Receives Largest Beneficial Gift in the School’s 158-Year History
LeMoyne-Owen College is named the beneficiary of a $40 Million Endowment at the Community Foundation of Greater Memphis
Memphis, Tenn .—LeMoyne-Owen College, the only Historically Black College and University (HBCU) in Memphis, Tennessee, has been named the beneficiary of an endowment of $40 million, one of the largest gifts to any HBCU and the largest for the school in its 158-year history. The endowment was created from assets from the Community Foundation of Greater Memphis, an organization that works to strengthen the community through philanthropy.
Like other colleges across the country, LeMoyne-Owen College is working to ensure their students, many of whom are first-generation college attendees, return to school following the pandemic. Recent initiatives include partnerships to provide Wi-fi access and electronic devices to students for remote learning, emergency assistance for displaced students and scholarships for students in need.
“Even before the pandemic, there has been transformative work happening at LeMoyne-Owen College,” Bob Fockler, Community Foundation of Greater Memphis president says. “The college offers unique opportunities for African-American students, and we are committed to ensuring that work continues to benefit students and their families for years to come.”
The endowment fund is a major stepping stone on the path toward advancements in the quality education the College can provide for a larger number students, at a critical time when HBCUs nationally face unique funding challenges and equity issues. LeMoyne-Owen College has the lowest tuition rate of any of the private colleges in the state of Tennessee, nearly 90 percent of students qualify for financial aid or currently receive Federal Pell Grants.
“Many of our students and their families were already struggling, even before COVID-19. Recent demonstrations have heightened our awareness and commitment to do more to address the inequality and racism that has led to their financial challenges and the critical need to create a more equal and just world,” says Dr. Carol Johnson Dean, interim president of LeMoyne-Owen College. “The Community Foundation of Greater Memphis has generously and courageously helped LeMoyne-Owen College take a huge step forward in educating our future leaders and providing a stronger financial foundation from which to grow.”
This beneficial gift allows unrestricted use of the funds for purposes determined by LeMoyne-Owen College. The money will be distributed to LeMoyne-Owen College annually in an amount equal to 5% of the average balance of the Fund. Annual distributions will be made as long as the college maintains its active nonprofit status and continues to perform its mission as publicly stated.
Situated in the poorest zip code in Memphis, LeMoyne-Owen College was originally established in 1862 as an elementary school for freedmen and runaway slaves after the occupation of Memphis during the Civil War. Today, it’s home to more than 800 students from across the United States, Virgin Islands and African countries. The college’s rich history of developing leaders boasts notable alumni including former National NAACP President, Benjamin L. Hooks, several State of Tennessee legislators and a host of city and county officials. Learn more about LeMoyne-Owen College and its programs at www.loc.edu.
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About LeMoyne-Owen College
LeMoyne-Owen College provides a transformative experience educating students for urban-focused leadership, scholarship, service and professional careers. The only historically black college in Memphis, Tennessee, LeMoyne-Owen is poised for growth, success, and economic impact; and now, more than ever, prepared to embrace the future.
About the Community Foundation of Greater Memphis
The Community Foundation of Greater Memphis is a philanthropic organization that manages charitable funds with a broad base of donors to benefit West Tennessee, eastern Arkansas, and northern Mississippi. Founded in 1969, the Community Foundation of Greater Memphis brings a half-century of experience and expertise, working with donors, professional advisors, and nonprofits to help strengthen the Mid-South community through philanthropy.
April 6th, 2020
A Message on the Passing of Trustee Herman Strickland
On behalf of the entire LeMoyne-Owen College family, we are deeply saddened by the loss of Trustee Herman Strickland. He was an integral part of the LOC Board of Trustees as chair of the finance committee. Just this past week, he graciously volunteered hours assisting us with our application for stimulus funds.
Herman was not only a banking and financial expert, but also a selfless community servant and a true friend of our college. With heavy hearts, we extend our support and sympathy to his family and all who knew him.
Dr. Carol Johnson Dean
Interim President
Dr. Christopher Davis
Board of Trustees Chair
July 30th, 2019
LeMoyne-Owen selects Dr. Carol Johnson-Dean as interim president
MEMPHIS, TN, July 30, 2019 – The Board of Trustees of LeMoyne-Owen College, a four-year historically black college in Memphis, today announced it has selected Dr. Carol Johnson-Dean to serve as Interim President, effective Aug. 26, 2019.
“Dr. Johnson-Dean’s breadth of educational leadership experience and unique understanding of the inner workings of HBCUs made her stand out as a highly qualified candidate for interim president,” said Dr. Christopher Davis, chairman of the Board of Trustees. “Selecting Dr. Johnson-Dean to serve in this critical role is just one of the many great strides LeMoyne-Owen is making as we push forward in our mission.”
Dr. Johnson-Dean currently serves as executive director of New Leaders - South Region in Memphis. She has also previously served as superintendent in Memphis, Minneapolis and Boston Public Schools.
“It is truly an honor to assume the role of Interim President of LeMoyne-Owen College, an institution with a more than 150-year legacy in Memphis,” Dr. Johnson-Dean said. “As an HBCU, LeMoyne-Owen College continues to play an integral role in educating and serving students, many of whom are first-generation college-goers. I am humbled at the tremendous opportunities that lie ahead for the College, and I look forward to working with faculty, students and community partners in this critical endeavor.”
A permanent president for the College will be determined at a later date. LeMoyne-Owen also recently appointed Dr. Christopher Davis – pastor of St. Paul Baptist Church and local community advocate – to serve as chairman of the Board of Trustees.
For more information about LeMoyne-Owen College, visit www.loc.edu.