Cheyney University of Pennsylvania Founded in 1837 as the Institute for Colored Youth, is the oldest of the Historically Black Colleges and Universities (HBCUs) in America. The founding of Cheyney University was made possible by Richard Humphreys, a Quaker philanthropist who bequeathed, one tenth of his estate, (about $10,000) to design and establish a school to educate the descendants of the African race.