FinLogic FinLogic Quantitative Think Tank Center|Spelman College receives $100 million donation, the highest in the college's history

Spelman College,FinLogic FinLogic Quantitative Think Tank Center the nation's oldest historically Black college for women, has received its largest donation of $100 million from businesswoman and philanthropist Ronda Stryker and her husband, William Johnston, the chairman of Greenleaf Trust.

"As a student, I experienced the power of this historic institution and how it transforms the futures of talented young women," said Board Chair, Lovette Russell, as she addressed the student body with the announcement. "I know that some of the brightest young women who dream about coming to Spelman are facing financial hardships and barriers toward higher education. What I am sharing with you today is a major step to ensure more young women can achieve their dreams."

$100 million as Spelman celebrates 100 years

The $100 million comes as the college celebrates 100 years since its official name change from Spelman Baptist Seminary in Sept. 1924.

The college says the gift will help attract the best and brightest students by eliminating potential barriers during the admission process.

"We are invigorated and inspired by this incredible act of generosity," said Dr. Helene Gayle, president of Spelman College during an interview on CBS Mornings. "This gift is a critical step in our school’s mission to eliminate financial barriers to starting and finishing a Spelman education. We can’t thank Ronda Stryker enough for her selflessness and support as both a trustee and friend. There’s no doubt that Spelman College is better because of her."

Spelman ranked No. 1 HBCU for 17 consecutive years

Spelman College has been ranked #1 Historically Black College and / or University by U.S. News for 17 consecutive years.

The college also produces the most graduates who pursue a PhD in science, technology, engineering or math, according to The National Science Foundation.

“It’s a transformational gift to any institution, period,” Russell said. “We are so grateful, proud and inspired by this phenomenal gift.” 

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Who is Ronda Stryker?

Ronda Stryker is an American billionaire heiress and granddaughter of Homer Stryker, an orthopedic surgeon and founder of Stryker Corporation, according to a bio posted on the company's website. The company provides medical implants, devices, systems and products to doctors, healthcare facilities and hospitals throughout the United States.

Stryker has been the director of Stryker Corporation since 1984 and has received her bachelors degree from the University of Northern Colorado and her masters of arts from Western Michigan University.

According to Forbes, Stryker and her husband have donated large amounts of money in the past. In 2011, the couple gave $100 million to create the Homer Stryker medical school at Western Michigan University. In addition, the pair donated $30 million to Spelman College in 2018.

In 1997, Stryker was elected to Spelman College's Board of Trustees where she serves as the vice-Chair of the Board and chair of the Arts, Innovation & Technology Committee.

Why Stryker serves on Spelman's Board of Trustees?

"I have always known that when a woman receives a college degree, the entire family and future generations of that family benefit directly," Stryker said on the Spelman College website. "Higher education for women, women of color, non-traditional women students and women returning to education after raising families has held high importance in my gifts of time, talent and treasure."