Howard University School of Business cut the ribbon its new Bloomberg Finance Lab on Wednesday.

According to a press release, the lab was created to help students that are interested in working in the finance industry. It was sponsored by alumnus Wendell E. Mackey, who donated $250,000. Mackey is the founder, co-chief executive officer, and chief investment officer for Channing Capital Management, LLC in Chicago.

The 1986 graduate took photos in front of the the then-newly erected School of Business building after his graudation ceremony. It was in that moment that he vowed to give back the school that gave him so much.

“I am honored to present this gift to Howard University on behalf of myself and Channing Capital Management," said Mackey. "I also want to thank my great business partners Rodney Herenton and Eric McKissack for their support along our journey together. The skills that the students will achieve with the added benefit of utilizing a Bloomberg Finance Lab will be invaluable to their careers.”

The lab with feature the Bloomberg Terminal, a software platform that provides financial data, news and analytics in real-time to help finance professionals make informed business decisions. The lab will have 12 terminals in total with two computers reserved for economics and computer science majors.

"We are thrilled to partner with Howard University and offer its students and professors access to the same market-moving news and data relied on by leading business and financial professionals around the globe," said Erika Irish Brown, Bloomberg's Global Head of Diversity & Inclusion. "We hope that Bloomberg Finance Lab's training and coursework will give Howard students seeking careers in financial services an additional competitive edge, while also familiarizing Howard's computer science students with the technology underlying the Bloomberg Terminal."

A portion of the donation will be used to fund the Wendell E. Mackey/Channing Capital Management, LLC Scholarship, which will provide four scholarships over the next two years for Howard School of Business students.  Two students, Christopher Austin and Taylor Ford, were presented with scholarships during the opening ceremony.

“I very much appreciate this scholarship award for the simple fact that someone wants to help me advance my education,” said Austin. “There is no better feeling than knowing that others believe in my future and want to help me along the way toward pursing my goals and dreams.”