Florida A&M University has suspended $237.75 million in donations to support student success initiatives and athletics.
Dr. Larry Robinson
FAMU officials announced the pause at an emergency meeting May 9 after members of the university's board of trustees expressed reservations. FAMU Board of Trustees Vice Chair Deveron Gibbons has asked Board of Trustees Chairwoman Kristin Harper and FAMU President Larry Robinson to convene a public meeting for the university community to learn more about the $237 million gift.
“We have already decided that it is in our best interest to put this on hold in terms of future processing, including the gift and gift processing,” Robinson said at the meeting.
FAMU received a gift from Gregory Gerami, Issac Batterson 7th Family Trust and CEO, Texas hemp grower and founder of Batterson Farms Corp.
Many throughout the FAMU community expressed skepticism immediately after the gift was announced. University officials, who noted that the endowment was nearly double the value of FAMU's $121 million endowment, responded that non-disclosure agreements prevented them from disclosing many details.