St. Aug’s to Receive $5 Million Gift from $70 Million UNCF Donation

By Cash Michaels –

Thanks to a landmark $70-million gift to the United Negro College Fund (UNCF), SAU, a longtime member, will receive $5 million. The gift will be “…invested in the UNCF Members Pooled Endowment Fund, a groundbreaking initiative designed to strengthen the long-term financial health of all 37 private UNCF-member historically Black colleges and universities (HBCUs).”

According to a press statement from the school, SAU will be required to raise $5 million in matching funds, thus creating a $10 million endowment that will make annual payouts at 4%, which will be “managed in perpetuity.”

“This transformational investment affirms the critical role that SAU plays in higher education and will allow us to expand opportunities for our students, strengthen our academic programs, and build permanent resources for the future,” said SAU Interim President Dr. Verjanis A. Peoples. “We are proud to work alongside UNCF to raise the matching funds that will double this impact on our institution.”

The $5 million UNCF gift adds to the fresh start for SAU’s 2025-26 academic year.

Two days before the new school year began for the small, private Episcopalian HBCU, its previous interim president, Dr. Marcus Burgess, stepped down, having tendered his resignation on July 16. He was replaced by Dr. Peoples, who was SAU provost at the time.

That dramatic change occurred during the summer after the SAU Board of Trustees elected new leadership.

Dr. Burgess had led SAU through a series of challenges since December 2023, including the school having its academic accreditation revoked twice, only to finally have it temporarily restored while it fights in court. SAU was also sued by vendors and former employees for millions and cited by the federal government for reported failure to pay taxes, adding to its growing burden.

SAU has lost a significant percentage of its student enrollment, down from 1,500 students less than five years ago to 200 just last year. Now, all classes on campus are being taught virtually, as SAU has also cut staffing.

And yet, through it all, SAU’s students, alumni and supporters vow that their alma mater will come back one day, stronger than ever.