Following Hurricane Katrina, in 2005 a breach of several levees surrounding New Orleans, LA caused catastrophic damage to the city. Located in the 9th Ward, Dillard University was severely impacted. Founded in 1869 and having a modest endowment, Dillard, one of the oldest Historically Black Colleges and Universities (HBCU) in the U.S., was in particular need of help. Such support is consistent with Wallace Coulter’s belief in the lifelong value of a college education. In order to assure that the university recovered from this disaster and resumed its mission of high quality education, in summer 2006, the Foundation approved a grant of $2,500,000. Part of the grant funds were designated for scholarships to attract deserving students to Dillard.