The PhD Project, a 31-year-old nonprofit that builds faculty diversity pipelines for business schools, launched a Vanguard Society to stabilize funding after the Department of Education threatened a federal investigation and several university partners withdrew support. CEO Alfonzo Alexander said the campaign seeks sustained donor commitments; George and Angeliki Marakas pledged $100,000 to kickstart the effort. The organization faces legal and reputational pressure over allegations of race-exclusionary practices, but leaders say alumni and supporters are mobilizing to preserve doctoral recruitment resources critical to diversifying business faculties.