Paine College Receives $250,000 Grant from Bank of America

September 20, 2023

Paine College Receives $250,000 Grant from Bank of America

(Augusta, Ga) - Paine College recently received a $250,000 grant from Bank of America that was initially announced on September 8, 2023 during the Opening Fall Convocation held in the Gilbert-Lambuth Memorial Chapel. Earlier during a press conference held in June 2023 on the grounds of the 141-year old institution, College officials announced the historic partnership with Bank of America, education consultant EAB, the United Negro College Fund, (UNCF), Augusta National Golf Club, the Community Foundation of the CSRA, and the Christian Methodist Episcopal Church. The collaborating partners pledged support of a ten-year transformation plan (Plan) designed to preserve, elevate, and transform Paine College into a premier liberal arts institution and a school of choice for students seeking a college degree.

"At the heart of this partnership lies the generosity of all our partners who possess a collective belief that Paine College has enormous value and is needed beyond the boundaries of the CSRA," commented Michael Thurmond, Chairman of the Board of Trustees. "Paine College is on the path of transformational sustainability."

"Our partnership with Paine College is instrumental for workforce development efforts in Augusta and surrounding communities," said Ora Parish, president, Bank of America Augusta-Aiken. "Bank of America is committed to finding solutions and providing resources to help people succeed."

Bank of America's gift will underwrite critical services provided by EAB, an education research and advisory firm. EAB will serve as project leaders and work with Paine College to leverage many of the same best practices the company has used to boost student and institutional success at more than 2,500 partner institutions. EAB will work closely with the transformation team leader from Paine who will drive and oversee the Plan.

"We are immensely grateful for Bank of America's extraordinary gift of $250,000 that will underwrite valuable services reflected in the Plan," said Dr. Cheryl Evans Jones, president, Paine College. "Generous donations of this kind demonstrate that Paine is a sound investment and inspire philanthropic support. Just as important, this gift propels the College's ability to fully engage in the Plan's processes and advances the Institution on the path of a productive future."

The ongoing partnership between Bank of America and Paine College also demonstrates a shared commitment to enhancing the College's offerings that will attract a more diverse group of students who otherwise might not have had the opportunity to pursue a college degree.

During the height of the pandemic, Bank of America awarded over $65,000 to Paine to establish the first Hybrid Interactive SMART Classroom on the campus that facilitated both in-person and virtual classes. Since 2020, Bank of America has continued to donate personal protective equipment and supplies to help mitigate COVID at Paine.

Bank of America's grant is yet another step forward in advancing the Plan that will include hiring an executive-level Transformation Team Leader to guide the overall initiative. This partnership will help shape effective strategies providing a vehicle for businesses, industries, communities and higher education to jointly address the many challenges that impact the communities they serve.

A fund has been established at the Community Foundation for the CSRA to receive donations for the Paine College EAB Transformation Plan. If you are interested in joining Bank of America in making a financial contribution to this effort, please contact Helene Carter at hcarter@9416hd44.com. Donations can be made directly to the fund at www.cfcsra.org.

For more information, contact the Paine College Office of Communications and Marketing at (706) 821.8323, or email: hcarter@9416hd44.com.


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