Tuskegee University News December 14, 2020 Tuskegee University receives $5 million gift from foundation established by Cerberus Founder and CEO Stephen Feinberg Tuskegee University has received a $5 million gift from the charitable foundation established by philanthropist Stephen Feinberg. Mr. Feinberg is the co‐founder and co‐chief executive officer of Cerberus Capital Management, a global private equity firm with investment assets across complementary credit, private equity, and real estate platforms. This gift is one of the largest major single gifts by an individual donor or privately funded foundation to the University in its history. The donation will be used to establish the Stephen Feinberg Scholarship Program, which will provide need‐based scholarships for students with financial hardship. The foundation stated, "We're very pleased to honor our founder's philanthropic vision with a grant that has real potential to advance racial equity in postsecondary education and meaningfully impact opportunities available to bright and talented students." “Steve and I have spoken extensively about the rich history and mission of Tuskegee which make it a very special and unique institution. His commitment to improving the lives of African American students who have financial challenges is exceptional and inspiring,” stated Gregory S. Nixon, who facilitated the gift and is a Tuskegee University Trustee. “In short, the Feinberg Scholarships will change lives.” “We are extremely appreciative of the foundation’s generous investment in Tuskegee and its commitment to our students,” said Interim President Charlotte P. Morris. “African American families have been hit inordinately hard by the pandemic and by the recession,” noted Dr. Morris. “The Stephen Feinberg Scholarships will provide vital need‐based assistance that will allow students to continue their studies in earnest.” (c) 2020 Tuskegee University Sandra M. Phoenix HBCU Library Alliance Executive Director Atlanta University Center Robert W. Woodruff Library 111 James P. Brawley Drive SW Atlanta GA 30314 404-978-2118 (office) 404-702-5854 (cell) http://www.hbculibraries.org<http://www.hbculibraries.org/> sphoenix@hbculibraries.org<mailto:sphoenix@hbculibraries.org> Honor the ancestors, honor the children and those yet to come. Building Capacity for Humanities Special Collections at HBCUs - Become an ally and partner with us to protect, preserve and share a more authentic record of American history. Follow this link http://hbculibraries.org/humanities-2019.html for more information. Follow this link http://hbculibraries.org/ and click on the Donate Now button to invest in this project. Your support is appreciated. Follow us on Facebook at https://www.facebook.com/hbculibraryalliance1/ and Twitter at https://twitter.com/HBCULibAlliance Check out "PULSE!" The HBCU Library Alliance's News Source! - https://hbculibraryalliance.wordpress.com/