Florida A&M University Puts $237.75 Million Donation on Hold Amid Validity Concerns

Florida A&M University (FAMU) has decided to pause a purported $237.75 million donation following questions raised about the authenticity of the gift and concerns regarding the donor’s previous donations.

The decision to halt the donation came after an emergency school board meeting, during which FAMU President Larry Robinson acknowledged the need for additional information regarding the donation’s validity.

Initially hailed as one of the largest personal donations ever made to a historically Black college or university, the gift was presented by Gregory Gerami, the CEO of Batterson Farms Corp., during FAMU’s commencement ceremony. However, scepticism arose after media reports questioned the actual value of Batterson Farms Corp. and Gerami’s previous involvement in a failed donation to Coastal Carolina University.

At the emergency meeting, FAMU board members expressed frustration over the lack of transparency regarding the donation, with some stating they were unaware of it until its public announcement. Vice Chair of the Board of Trustees, Deveron Gibbons, called for an independent investigation into the transaction, emphasizing the need for thorough vetting processes.

Kristin Harper, the Board Chair, also expressed concerns about the validity of the gift and the adequacy of due diligence processes, indicating the seriousness of the situation.

FAMU’s Vice President for University Advancement, Shawnta Friday-Stroud, revealed that a non-disclosure agreement requested by Gerami had limited disclosure of details to university officials. Despite assurances of due diligence, questions remain about the donation’s legitimacy.

Efforts to reach Gerami for comment were unsuccessful, and FAMU’s Special Board of Trustees has scheduled a meeting for May 15 to further discuss the donation.

As the university grapples with restoring faith in its donor vetting processes, the future of the purported donation remains uncertain, pending a comprehensive review by FAMU authorities.