In an effort to help bridge resource and leadership gaps at nonprofits across the country, Bank of America, in partnership with Augusta National Golf Club, has announced two key initiatives to support the long-term success of Paine College, a private Historically Black College or University (HBCU) in Augusta, Ga.
Bank of America has expanded its Leader on Loan program with Dr. Tiffani Stewart beginning her year-long, fulltime role as interim Assistant to the President with Paine College in August. In addition, Paine College has joined the Way Forward Initiative, a multiyear collaboration between education firm EAB and Bank of America to support HBCUs. Their inclusion in the program is made possible through funding provided by Augusta National Golf Club as part of its commitment to Paine College and the City of Augusta.
Leader on Loan Program
The Leader on Loan program is an innovative way for Bank of America to bring additional resources to local communities. Talented leaders in the program are typically in their roles at the nonprofits for an average of 12 months, with the bank covering the employee's salary and benefits. Created in 2017 with four organizations in Charlotte, the program has expanded to place 40 leaders with a variety of organizations to help advance economic opportunity and other philanthropic priorities in the communities where they live and work.
"This is such a unique opportunity to help drive meaningful, lasting change with Paine College," said Dr. Stewart, interim Assistant to the President at Paine College. "It is my hope to help the organization by working with the Office of the President and the Office of Institutional Advancement to oversee the attainment of the College's Strategic Objectives related to Productive Partnerships and ‘friend' raising."
Stewart joins the Office of the President as the daughter of two Paine College graduates. She is a 17-year financial services veteran previously based in Kennesaw, Ga. Her banking career began in Consumer and Small Business supporting Consumer Lending and Consumer Credit Assistance and transitioned Global Human Resources. She believes in forming collaborative relationships that lead to collective action, grounded in shared values of working together to affect positive change.
Way Forward Initiative
EAB and Bank of America established the Way Forward Initiative in 2021 in partnership with an initial cohort of five HBCUs working together to advance their institutional goals. Schools in the program have a dedicated EAB support team and access to EAB's Global Research Partnership. They receive leadership training, on-demand market research, and opportunities to collaborate with peer institutions. EAB's support team guides them through opportunity assessments and tactical changes designed to improve student retention and graduation rates, financial stability, and operational efficiency.
President Cheryl Evans Jones stated that the acquisition of Dr. Stewart will help to increase fundraising and friendraising capacities at Paine College. "Having worked for a prestigious financial institution such as Bank of America has prepared her to methodically identify and unearth leadership resources that when cultivated will have the potential to produce transformational gifts for the College," said Dr. Jones.
Both Bank of America and Augusta National Golf Club have been working with Paine College for several years. Most recently, Paine received a $65,000 grant for their new Hybrid Interactive Smart Classroom that provides upgraded technology to improve student retention and success. Augusta National's ongoing relationship with the college includes its funding of the Lee Elder Scholarships awarded to a student on the men's and women's golf team, as well as the creation of a women's golf program at Paine College.
"We look forward to working with Dr. Stewart and developing strategies that will strengthen our capacity to solicit and cultivate new and recurring leadership resources that will benefit campus life and academic programs", said Helene Carter, VP of Institutional Advancement.
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