WINSTON-SALEM, N.C. – The Z. Smith Reynolds Foundation in Winston-Salem has donated $500,000 to Bennett College in an effort to keep the school open.
The donation came on Thursday, right after news broke that Papa John’s Pizza also made a $500,000 donation.
The private, historically black college for women needs $5 million by February 1 to remain open. The school has raised $1.5 million since Dec. 11.
Since then, Alpha Phi Alpha donated $31,000 and Newmark Knight Frank donated $10,000.
Growing their enrollment is the main way to keep the college thriving.
Regardless of the outcome, seniors graduating in May will be able to walk across the graduation stage.
The school launched a strategic plan to make sure this probational period does not happen again. There are four main goals of the plan; fiscal stability, new majors, stabilization of the college and improving student life.
The Z. Smith Reynolds Foundation describes itself on its website as a “statewide, private, family foundation that has been a catalyst for positive change in North Carolina for more than 80 years.”