A new bill receiving unanimous Senate approval aims to help historically black colleges and universities (“HBCUs”) secure more federal grants and contracts. The HBCU Propelling Agency Relationships Toward a New Era of Results for Students (HBCU PARTNERS Act) requires applicable agencies to present to Congress their annual plans for supporting the capacity of HBCUs to take part in federal grants, contracts or cooperative agreements. Another Senate-backed effort seeking to give HBCU funding is the reauthorization of the HBCU Historic Preservation Program. This bill would permit grant funding to repair deteriorating historic buildings at HBCUs and bring buildings up to code under the American Disabilities Act.
More on recent legislation to increase federal funding for HBCUs is available on the Nonprofit Quarterly website. If your HBCU needs accounting guidance, reach out to Cherry Bekaert’s Education group.