On May 4, 1988, Bill and Camille Cosby announced a historic $20 million donation to Spelman College, the prestigious historically Black women’s college in Atlanta. At the time, it was the largest single donation ever made to a historically Black college or university (HBCU). The gift funded a major endowment, scholarships, and campus development projects, setting a new benchmark for philanthropic investment in Black higher education. While Cosby’s legacy has become controversial in later years, the donation played a key role in strengthening Spelman’s academic and financial standing.
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