Purchase-headquartered PepsiCo (NASDAQ:PEP) is providing $250,000 in grants to address food insecurity at five Historically Black Colleges and Universities (HBCUs).
Five universities – Morgan State University, Prairie View A&M University, Florida A&M University, Jackson State University and Bethune-Cookman University – will receive $50,000 each. In allocating its grants, the company cited data from the National Postsecondary Student Aid Study that found almost 40% of HBCU students report were food insecure.
The grants will support more than 37,500 students facing food insecurity by funding on campus food pantry supplies and groceries, meal plans for homeless students, workshops for cooking and meal prep, stipends for student staff within the pantries, and more. In addition, PepsiCo will supply free meals for approximately 2,000 students at select universities during their respective winter finals weeks in December.
Kent Montgomery, senior vice president of industry relations and multicultural development at PepsiCo, stated, “Our donation to tackle food insecurity is another example of our commitment to empower students and ensure their success in every aspect of their educational journey.”
The donation is part of PepsiCo’s larger HBCU Tour to support HBCU students and celebrate the legacy of these universities.
