Exelon HBCU Corporate Scholarship Program Awards $2.4M To Freshmen

Last Updated on November 14, 2023

HBCU graduates

Exelon Corporation (Nasdaq: EXC) and the Exelon Foundation have committed $2.4 million in scholarships to 24 college freshmen selected for the company’s HBCU Corporate Scholars Program, launched in partnership with UNCF (United Negro College Fund) to provide scholarship assistance, internship experiences and early-career readiness training to students attending historically Black colleges and universities (HBCUs).

Each student will receive $25,000 of need-based aid per year for four years – a total of up to $100,000 from the Exelon HBCU Corporate Scholarship program. This cohort is the first to participate in the program, which was announced in fall 2021. The program will help prepare HBCU students for rewarding careers at Exelon and in the energy industry.

“Congratulations and welcome to our first 24 HBCU Corporate Scholars. Our 18,000 Exelon employees wish you success as you embark on a tremendous learning opportunity…We continue to be grateful for our partnership with UNCF and our prestigious HBCU partners that are helping to develop motivated young people eager to lead the transformation to a clean energy future.”Chris Crane, president and CEO of Exelon

“This gift is an exciting new venture for Exelon, and we thank them for this new program…Exelon has been and continues to be an active supporter of our mission for many years, and we look forward to growing and continuing our partnership.”

Maurice E. Jenkins, Jr., executive vice president and chief development officer, UNCF

Nearly 200 Exelon Employees Are HBCU Alumni

The HBCU Corporate Scholars Program is in total a $3 million commitment and one of several Exelon initiatives that support education and workforce development. Exelon is helping bridge the gender and racial gap in STEM careers with the annual Exelon Foundation STEM Leadership Academy, and the recently launched Green Lab Grants program, which will provide $1 million in grants of up to $50,000 each for schools and educational nonprofits to create and refresh spaces for STEM education. Together, Exelon and its utilities—Atlantic City Electric, BGE, ComEd, Delmarva Power, PECO and Pepco—have more than 65 unique workforce development programs designed to bring economic equity, empowerment and employment opportunity to under-resourced communities. The individual Exelon utilities with HBCUs in their service areas also provide additional support to those institutions beyond this initiative.

These commitments extend outside of Exelon’s walls through philanthropic support of similar work by other organizations in the community. In 2021 alone, Exelon, the Exelon Foundation and Exelon’s operating companies provided nonprofits with nearly $16 million in grants for education programs.

More information about Exelon’s culture of corporate citizenship is available at exeloncorp.com.

About Exelon

Exelon (Nasdaq: EXC) is a Fortune 200 company and the nation’s largest utility company, serving more than 10 million customers through six fully regulated transmission and distribution utilities — Atlantic City Electric (ACE), Baltimore Gas and Electric (BGE), Commonwealth Edison (ComEd), Delmarva Power & Light (DPL), PECO Energy Company (PECO), and Potomac Electric Power Company (Pepco). More than 18,000 Exelon employees dedicate their time and expertise to supporting our communities through reliable, affordable and efficient energy delivery, workforce development, equity, economic development and volunteerism.

About UNCF

UNCF (United Negro College Fund) is the nation’s largest and most effective minority education organization. To serve youth, the community and the nation, UNCF supports students’ education and development through scholarships and other programs, supports and strengthens its 37 member colleges and universities, and advocates for the importance of minority education and college readiness. UNCF institutions and other historically Black colleges and universities are highly effective, awarding nearly 20% of African American baccalaureate degrees.

UNCF administers more than 400 programs, including scholarship, internship and fellowship, mentoring, summer enrichment, and curriculum and faculty development programs. Today, UNCF supports more than 60,000 students at over 1,100 colleges and universities across the country. Its logo features the UNCF torch of leadership in education and its widely recognized trademark, ‟A mind is a terrible thing to waste.”® Learn more at UNCF.org 

Source: Business Wire

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