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The school says most of the money will go toward endowed scholarships for future students.
Spelman College in Atlanta just received a massive donation.
The historically Black liberal arts college for women received a $100 million donation from businesswoman and philanthropist Ronda Stryker and her husband, William Johnston.
"Stryker has been a Spelman College Trustee since 1997," the college said. "She has worked for decades to empower women through higher education and advance opportunities for additional marginalized groups."
The $100 million gift is the largest single donation to a historically Black college or university.
The date of the donation is also significant. The school is marking 100 years since it was named Spelman College.
The school says $75 million of the money will go toward endowed scholarships for future students.
“This gift is a critical step in our school’s mission to eliminate financial barriers to starting and finishing a Spelman education," said Dr. Helene Gayle, president of Spelman College.
The other $25 million will be used to "develop an academic focus on public policy and democracy," as well as other needs of the school.
"We can’t thank Ronda Stryker enough for her selflessness and support as both a trustee and friend," Gayle said. "There’s no doubt that Spelman College is better because of her.”
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