After Florida A&M announced the reception of a $237 million donation from Gregory Gerami and the Issac Batterson 7th Family Trust, several inquiries surfaced. While the donation was worth celebrating and will undoubtedly help the institution, many expressed skepticism surrounding Gerami as information about him as well as his company is limited online.
Florida A&M’s Office of Communications released a statement about the donation and addressed the skepticism on Sunday. The statement read:
“While Florida A&M University (FAMU) is still extremely excited about Mr. Gregory Gerami’s historic announcement yesterday of the Isaac Batterson Family 7th Trust, we are fully aware of the skepticism that sometimes comes with such a large gift.
As expected, some individuals in the public are and will continue researching Mr. Gerami. Please know that FAMU has done its due diligence when it comes to this matter. Additionally, Mr. Gerami has and continues to do his own due diligence on things that have been and are happening at FAMU.
While a non-disclosure agreement (NDA) we signed prevents us from disclosing many details, as was reported on May 4 – Mr. Gerami transferred $237,750,000 worth of stocks into our account last month. Mr. Gerami’s $237,750,000 stock transfer was received in the same manner in which we have accepted all other stocks donated to the University through the FAMU Foundation Inc. As with any non-cash gift received, such as cryptocurrency, real estate, and stocks, it will be converted to cash and recorded appropriately.
Again, we greatly appreciate Mr. Gerami’s and the Isaac Batterson Family 7th Trust’s generosity. Our students will be the true beneficiaries of their most generous contribution.”
The $237 million donation was announced at Florida A&M’s Spring Commencement ceremony on Saturday afternoon. Florida A&M reported that the $237 million donation exceeds the institution’s endowment value ($121 million) and stands as one of the largest single personal contributions to an HBCU. Gerami also addressed the Spring graduates at the commencement before the announcement.
Much of the doubt surrounding the donation stems from uncertainty about Gerami. Per a statement released by Florida A&M upon the announcement of the donation, Gerami founded Batterson Farms Corp and advocates for sustainable agriculture and biodegradable hemp products in Texas.
Gerami first reached out to Audrey Simmons Smith from the FAMU Office of University Advancement in Fall 2023 to initiate a conversation about a substantial donation. He highlighted the alignment between FAMU’s mission and research expertise, especially in hemp production, and his company’s objectives.
“I cannot thank Mr. Gregory Gerami enough for his beyond-transformational gift to Florida A&M University. It will forever elevate FAMU’s tradition of excellence and change the lives of Rattlers yet unborn…As a result of the many meetings and conversations with members of the FAMU community that uncovered the various intersections between his personal and professional experiences, and FAMU’s mission and programmatic offerings,” said Dr. Shawnta Friday-Stroud, vice president for University Advancement and executive director of the FAMU Foundation.
However, previous attempts at donations for Gerami to two other institutions have not materialized. Gerami was slated to donate $95 million to Coastal Carolina anonymously in 2020, per a report by The Sun News in June 2023, but talks fell through because Gerami felt disrespected.
“If you can’t hold to y’all word and verbal agreement as such is in Alabama and Texas the time of the agreement, then I have nothing else to say to ccu or to deal with ccu,” Gerami reportedly sent to former Coastal Carolina President David DeCenzo and Bryan Steros, former interim vice president for philanthropy in September 2020.
The Sun News report also reports that he was slated to donate money to Miles College, another HBCU located in Fairfield, Alabama. However, the donation was never allocated.
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