HBCUs contribute a rich history of collectivism, collaboration, and philanthropy that make them unique educational institutions, but the financial challenges they encounter at large endanger their survival.
To combat those challenges, HBCU Change — an interactive philanthropic experience — is on a mission to use innovative ways to raise $1 billion for HBCUs over the next five years, according to a press release.
“I created the HBCU Change app to allow Historically Black Colleges and Universities to innovatively engage their alumni and supporters,” said Xavier Peoples — founder and creator of the HBCU Change app — in a press statement.
In terms of function, “the app allows alumni and supporters to give back at any time, in any place by allowing their spare change to go towards their selected school,” according to Peoples.
The app rounds up credit or debit card purchases to the nearest dollar and then automatically transfers those funds to the HBCU of the user’s choice, the press release reveals.
Features for the app include contribution history, ranking, complete control, and bank-level security. The app also tracks the user’s contributions and records which schools and class years are raising the most funds to date.
“We wanted to celebrate the competitive excellence that is tradition with HBCUs and also align with our great cause,” Peoples said to Forbes. “This is a win-win for everyone.”
HBCU Change aims to fix the problem of financial scarcity and low giving by allowing alumni, allies, and friends the ability to donate to their favorite HBCU with an easy user-friendly experience.
In addition to financial burdens that existed prior to the pandemic, HBCUs have found themselves vulnerable to the economy’s fluctuating conditions as they strive to stay afloat.
“Giving back in this space is critical at this point,” said Peoples in a statement. “Many mainstream institutions have relied on large endowments when the pandemic hit, but many HBCUs do not have that financial cushion – this is how we can start to save our own.”
For more information on HBCU Change, visit their website.