For someone who describes himself as a “proud product” of a historically Black college (his was Morehouse), it’s no surprise that Damien Wilson is working to enable historically black colleges and universities to become anchors of their communities. And in doing so, Wilson’s education has given him a powerful tool. “I was a math major, so my nature is problem solving,” he says.
As the beneficiary of a strong HBCU education, Wilson is now helping generate funding for these institutions as head of the HBCU Brilliance Initiative. The initiative at the Reinvestment Fund, a mission-driven financial institution, aims to help HBCUs invest in their campuses while improving their financial stability and prospects for long-term growth.
The problems Wilson is trying to help solve vary from “Black Ivy League” institutions to smaller colleges. It might be paying for roof repairs or the modernization of campus dining facilities. It might be finding new ways to service an institution’s debt. Or it might be necessary to diversify an HBCU’s revenue stream to be less dependent on federal funding or tuition revenue.
“They also have short-term needs like making payroll, funding supplementary student services, or managing downtime in summer months when they’re not receiving adequate revenue,” says Wilson, who has spent 15 years working in community development financing. “And short-term funding comes with a higher cost of capital.”
However, the work of Wilson and his team now goes beyond the provision of finance to fostering knowledge sharing and helping schools with strategic planning. “The initial purpose of the initiative was to address the lack of access to capital,” he says. “But with proper support from both a capital and a technical assistance standpoint, we can prop these schools back up.”
Often, this means Wilson finds himself driving or walking around the campus with an HBCU leader to see firsthand the challenges they face. “The connection you make in person is significantly different from a Zoom or on the phone,” he says. “It’s not about being transactional—it’s about empathy.”
“The connection you make in person is significantly different from a Zoom or on the phone. It’s not about being transactional—it’s about empathy.”
The Kresge Foundation is a key partner for the Brilliance Initiative through its Social Investment Practice and Education Program. It made a $3.5 million program-related investment and a $750,000 grant into the initiative in 2023. The initiative’s goals align with Kresge’s commitment to strengthening under-resourced institutions such as HBCUs and expanding equity and opportunity through higher education access.
Wilson says the work is not easy and often involves tough conversations with institutions that are not prepared for change. However, what drives him forward is the knowledge that, while they may need help in some areas, these schools play a vital role in society.
Despite financial constraints, HBCUs have made significant positive contributions to society since their inception. Although HBCUs make up only 3% of U.S. colleges and universities, they produce 70% of all Black doctors, 80% of Black judges, 40% of Black engineers, and 40% of all Black undergraduates in physics, chemistry, astronomy, environmental science, math, and biology.
“You’re talking about some of the longest-standing institutions in the nation,” he says. “And these schools house some of the most brilliant young minds in the world.”
He argues that if the schools succeed, so do their students, who take what they have learned at their HBCU to drive impact in their communities as leaders. Therefore, the Brilliance Initiative has a ripple effect that runs from the campus out to the world at large. “We’re providing a bridge to the future,” Wilson says.