Yeah, Fisk University does provide scholarships based on merit. Here are some of them:

Erastus Milo Cravath Presidential Scholarship
Total Worth: Full tuition, fees, room & board, and books (up to $1,000)
Eligibility: Full tuition, fees, room & board, and books (up to $1,000)
Requirement for maintenance: Must earn a minimum of 12-18 credit hours per semester, maintain a 3.5 cumulative GPA and perform 50 volunteer hours per semester or 100 per academic year as an ambassador in the Office of Recruitment and Admission.
Separate application needed: No

Ella Sheperd Moore Provost Scholarship
Total Worth: Full tuition
Eligibility: Full tuition
Requirement for maintenance: Must earn a minimum of 12-18 credit hours per semester, maintain a 3.2 cumulative GPA, participate in one on-campus organization each semester, and perform 50 volunteer hours per semester or 100 per academic year.
Separate application needed: No

Fisk Outstanding Scholars and Leaders Award
Total Worth: $7,500 to $15,000
Eligibility: $7,500 to $15,000
Requirement for maintenance: Must earn a minimum of 12-18 credit hours per semester, maintain a 2.7 cumulative GPA participate in one on-campus club/organization each semester, and perform 25 volunteer hours per semester or 50 per academic year.
Separate application needed: No

They also provide other scholarships including Annual Community Volunteer Scholarship and Sports Scholarship Program For Undergraduate Students.