A mega-gift for an HBCU college fell through. Here’s what happened—and what’s next

Transformative financial donations don’t come along often in higher education. So when a donor promised a $237.75 million gift to Florida A&M University, school officials were understandably excited.

The donor was Gregory Gerami, a 30-year-old businessman from Texas who said he wanted to make sure the historically Black school’s windfall would help students who needed the money most. Funds were also designated for FAMU’s athletics department.

“This is more than $100 million more than we have currently in our endowment,” FAMU President Larry Robinson said as he unveiled the donation at the school’s spring commencement ceremony in Tallahassee, Fla. “This is just incredible.”

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