Bancel Foundation Awards Posse $10M to Support College Partnerships
Earlier this year, The Bancel Foundation awarded $10 million to Posse’s Century of Leaders Endowment Campaign, which seeks to raise $500 million to help support the organization’s institutional partnerships over the next century.
“We believe that the challenges we face, both as a nation and part of the global community, require leaders of the highest caliber in a wide range of fields” says Posse President and Founder Deborah Bial. “This tremendous gift from the Bancel Foundation will help to build a sustainable, diverse leadership pipeline that our country desperately needs.”
“We have seen the amazing work Posse does and how they create leaders in the world through their unique education model.
The family philanthropy of Stéphane Bancel, the CEO of Moderna, and his wife, Brenda, the Bancel Foundation funds projects that, according to its website, “speak to the fundamental emotion that nurtures us through hardship and sustains the human heart: love.” The Foundation lists educational equity among its top funding priorities.
Stéphane and Brenda Bancel join five other contributors who have each made $10 million grants to the Century of Leaders campaign. Donors include Mackenzie Scott, Glenn Greenberg, Linda Vester, and two anonymous contributors.
"Brenda and I believe that education is vital in helping people realize their full potential,” says Stéphane. “We have seen the amazing work Posse does and how they create leaders in the world through their unique education model. Surrounding these motivated amazing students with the right resources and support accelerates and ensures success. We are extremely grateful for their work and can’t wait to see what the next generation of Posse Scholars accomplish in the world."
This year, Posse partner schools awarded 870 students Posse Scholarships totaling more than $180 million. Posse Scholars graduate at rates above 90 percent and enter the workforce eager and equipped to make a difference in their field. At its final stage, the campaign will aim to fund Posse’s partnerships in perpetuity.
“Since 1989, Posse has worked to develop a unique network of young leaders,” says Posse Board Chair Henry Ellenbogen, a partner and the CIO at Durable Capital Partners. “The Bancel Foundation’s extraordinary gift brings us closer to our ultimate goal of recruiting 1,000 students each year, preparing 100,000 leaders over the course of a century.”
