JPMorgan Chase CEO Jamie Dimon and Wife Donate $12M to HBCUs

JPMorgan Chase CEO Jamie Dimon and his wife, Judith K. Dimon and UNCF are donating $12 million from The James and Judith K. Dimon Foundation to historically Black colleges and universities (HBCUs). The Dimon Fund is part of UNCF’s $1.5B capital campaign to provide economic opportunities.

12 selected UNCF member schools will receive a $5 million institutional match from UNCF’s pooled endowment fund.  “Our country’s future and strength depend on our young people. Our system of HBCUs continues to serve as the springboard to success for thousands of students in pursuit of the American Dream,” Jamie and Judy Dimon said in a press release.

“As the children of first-generation high school and college graduates, we were imbued with a thirst for knowledge and a drive to succeed—principles that we have passed on to our own children and that we wish to share with all the students at the selected HBCUs.”

$12 million to HBCUs

The recipient schools were chosen for their history of successfully preparing educators, nurses, and other healthcare professionals to enter the professional world. The Dimon Fund to Advance Economic Opportunity will help these institutions secure capital for research and infrastructure.

The chosen universities include: Benedict College (Columbia, SC), Dillard University (New Orleans, LA), Edward Waters University (Jacksonville, FL), Huston-Tillotson University (Austin, TX), Jarvis Christian University (Hawkins, TX), Johnson C. Smith University (Charlotte, NC), Miles College (Fairfield, AL), Oakwood University (Huntsville, AL), Shaw University (Raleigh, NC), Stillman College (Tuscaloosa, AL), Tuskegee University (Tuskegee, AL), and Voorhees University (Denmark, SC).

Each one of these universities will receive $1 million in permanent endowment capital through The Dimon Fund to Advance Economic Opportunity, according to the press release.

JP Morgan’s commitment to DEI

Jamie Dimon and Judith K. Dimon’s donation underscores their commitment to diversity and inclusion. It is particularly important during a time when companies are scaling back on their DEI efforts. In 2025, Jamie Dimon stood firm on the company’s diversity, equality, and inclusion commitments after facing pressure from an activist shareholder.

The National Legal and Policy Center, a conservative nonprofit, suggested that the company assess how executive compensation is linked to its racial equity goal. But during an interview with CNBC at the World Economic Forum in Davos, Switzerland, Dimon said the bank will continue its work on DEI and environmental, social, and governance policies.

“We are going to continue to reach out to the Black community, the Hispanic community, the LGBT community, the veterans community,” Dimon said in response to the activists. 

Image: Steven Ferdman