Funding from Bank of America and Augusta National Golf Club will help Paine College implement two programs to help with long-term success for students at the Historically Black College or University (HBCU).
Bank of America has expanded its Leader on Loan Program with Dr. Tiffani Stewart beginning her year-long, full-time 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
Bank of America’s Leader on Loan Program places talented leaders on their staff in local nonprofits as year-long assistants without additional expense. These leaders are typically in their roles at the nonprofits for an average of 12 months, with the bank covering the employee’s salary and benefits.
“This is such a unique opportunity to help drive meaningful, lasting change with Paine College,” Stewart said of her role as 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.”
President Cheryl Evans Jones said 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,” Jones said.
Stewart is the daughter of two Paine College graduates. She is a 17-year financial services veteran with Bank of America previously based in Kennesaw, Ga.
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.
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.
