Students at Morehouse College will soon have a new outdoor study area and endowed scholarships for those who lack the resources to attend the college.
On Thursday, the college announced that it received a $1.5 million gift from Robert F. Smith to fund the initiatives. Smith is a philanthropist and owns the software and technology investment company Vista Equity Partners.
Out of the total amount gifted, $1 million will go towards the creation of the Robert Frederick Smith Scholars Program. The rest will be allocated for the development of the new park.
“Robert F. Smith’s donation of $1 million for student scholarships will have a profound impact on the lives of deserving young men who have the desire to attend Morehouse College, but lack the resources,” said Morehouse president David A. Thomas.
“We appreciate his generosity and his investment in a generation of students who will follow in his footsteps as global leaders and entrepreneurs.”
Smith is the founder of Vista Equity Partners, which currently oversees the portfolio of more than 50 software companies and manages equity capital commitments of more than $46 billion.
In 2018, while recognizing his contributions to business and philanthropy, Morehouse College awarded Smith with the Candle Award during its annual gala.