Former New York City mayor Michael Bloomberg is putting serious money behind a new push to reshape public education, committing $20 million to partnerships between historically Black colleges and universities (HBCUs) and public charter schools.
The funding comes from a joint effort between City Fund and Bloomberg Philanthropies, with each organization contributing $10 million, according to an announcement shared by the ex-mayor.
The initiative is designed to support the creation and expansion of charter schools formally affiliated with HBCUs, creating a pipeline that links K-12 education with higher learning, career readiness, and local community investment. The United Negro College Fund (UNCF) will serve as a core partner in helping guide and support the collaborations.
At the center of the strategy is the belief that HBCUs—long recognized for educating generations of Black leaders and professionals—are uniquely positioned to play a larger role in public education.
By pairing HBCU institutional strength with the operational experience of charter school leaders, the initiative aims to widen access to rigorous schooling in underserved communities.
“Our work is all about empowering local leaders who are transforming education in their communities,” City Fund CEO Marlon Marshall said in a statement accompanying the announcement.
He noted that demand for higher-quality public school options is coming directly from families and educators, adding that HBCUs are “natural partners” because of their deep community ties and track record of innovation.
Bloomberg Philanthropies has been a consistent supporter of public charter schools nationwide.
Howard Wolfson, who oversees the organization’s education portfolio, said the new fund brings together two systems with proven impact. “We’re proud to partner with City Fund and UNCF on this innovative initiative that brings together the proven success of HBCUs with the strong results of public charter schools,” he said.
The first schools backed by the program are already taking shape in Alabama. I Dream Big Academy opened in Tuscaloosa in August 2025 as the city’s first tuition-free charter school, partnering with Stillman College.
The middle school serves grades six through eight and will expand one grade level each year, functioning as a lab school that offers teacher training and early exposure to college pathways.
A second project, D.C. Wolfe Charter School in Shorter, Alabama, is set to reopen in fall 2026 in partnership with Tuskegee University. The school will serve students from pre-K through sixth grade after converting from a traditional public school.
The partnerships are intentionally flexible, with models that may include shared campuses, dual enrollment, teaching fellowships, or direct admission pathways to a partnering HBCU. Long-term, the $20 million commitment is meant to establish a scalable framework that places HBCUs at the center of public education innovation.