May 27, 2004 | Read Time: 1 minute
A black Wall Street money manager announced last week that he plans to give $50-million in charitable donations to mark the 50th anniversary of Brown v. Board of Education, the landmark Supreme Court decision that desegregated American public schools.
The donor, Alphonse Fletcher Jr., said that while he and his family benefited from the ruling, many blacks have not, a problem he hopes to change through his gifts. He says he would like to see racial preferences in hiring and college admissions become unnecessary in 25 years.
Mr. Fletcher, owner of Fletcher Asset Management, said he plans to establish 50 fellowships worth $50,000 each to be awarded to scholars and artists. Application information for the awards will be posted at http://www.fletcher.com on July 1.
Some of the fellowships may be awarded through institutions, such as the Howard University School of Law and the NAACP, while others could be given through his philanthropy, the Fletcher Foundation, to people pursuing projects, such as a racial-justice documentary. Mr. Fletcher has formed a committee to advise him on the fellowships, led by Henry Louis Gates Jr., chairman of the department of African-American studies at Harvard University, Mr. Fletcher’s alma mater.
As part of his pledge, Mr. Fletcher also plans to make donations to support the NAACP, the NAACP Legal Defense and Educational Fund, and the Howard University School of Law — three institutions that played a role in bringing the lawsuit that led to the Brown decision.
He also said he would support the Yale Child Development Center, and Yale University’s School of Forestry and Environmental Studies because he believes blacks are disproportionately affected by toxic waste and other environmental problems.
For more information, contact the Fletcher Foundation, 22 East 67th Street, New York, N.Y. 10021; (212) 284-4800.
