Category Archives: Lifestyle

Would The Ivy League Athletic Model Work For HBCUs?

“Challenges make you discover things about yourself that you never really knew.” — Cicely Tyson

When you encounter most HBCU alumni regarding their athletic programs they all desire to be a football powerhouse. They believe that this will lead to a land of riches and honey. At the core of this delusion though is that the wealth gap between P5 athletics boosters and HBCU boosters larger than the wealth gap between is greater than the southern most tip of Florida to upstate New York. Phil Knight, University of Oregon booster and Nike owner, has a net worth of $35 billion. Oprah Winfrey is the wealthiest African American HBCU alumni with a net worth of $3 billion and the last we checked does not act as a booster to her alma mater. Meanwhile, Phil Knight in 2012 alone built the University of Oregon football team a facility to the tune of almost $70 million – and got the state legislature to amend a law to make the building legal since it ran afoul of code. But many HBCU alumni believe that if we get the “talent” to come “home” it will level the playing field. It will not. It is exhausting even explaining that the wealthy of many major athletic programs has more to do with the PWI developing and graduating entrepreneurs like Phil Knight who go on to create multibillion firms and therefore have millions to give back than whatever latest 18 year old recruit they have snagged. For greater context, Phil Knight’s building donation is almost 4X Prairie View A&M University’s athletic budget, the highest among all HBCUs.

In our last SWAC/MEAC Financial Review, the two conferences combined for a loss of over $160 million in 2019-2020 if you took away their subsidies (and even with subsidies the two conferences were in the red). These $150 million in subsidies largely coming in the form of student loan fees which for most HBCUs means students packing on student loans for the sake of athletics. Something infuriating when you consider over 90 percent of HBCU students finish with student loan debt versus less than half that amount at Top 50 endowed schools, many who play DIII football or have no football program at all. That is $150 million in subsidies that could be going to scholarships, research, investments, and so many more things that produce an actual return on investment is an understatement. The idea though that HBCUs could try an athletic model that does not aspire to be P5 (no major television contracts are coming either) seems to be lost on all HBCU athletic leadership and alumni. But what if instead of focusing on the P5 schools, we instead focused on the Ivy League’s athletic model.

The Ivy League athletic model is characterized by its emphasis on academic excellence, limited athletic scholarships, and a focus on holistic student development. As historically Black colleges and universities (HBCUs) contemplate their athletic strategies, the potential adaptation of the Ivy League model raises important questions, especially concerning financial resources, alumni support, and institutional missions. Here’s a closer look at several key factors:

Financial Context: Endowments and Alumni Giving

HBCU Endowments: HBCUs generally have lower endowments compared to their Ivy League counterparts. For example, the average endowment for an HBCU is around $100 million, while top Ivy League schools like Harvard have endowments exceeding $50 billion. This significant disparity in financial resources impacts the ability of HBCUs to fund athletic programs and support student-athlete scholarships.

Ivy League Endowments: The Ivy League’s strong financial standing allows for extensive investments in athletics, facilities, and academic resources. Schools like Yale and Princeton have endowments of over $25 billion, which provide them with a substantial financial cushion to support a holistic student-athlete experience.

Alumni Giving Rates: HBCUs face challenges with alumni giving. For instance, HBCUs have an average alumni giving rate of about 15-20%, whereas Ivy League schools boast rates often exceeding 50%. This higher giving rate in the Ivy League reflects a stronger tradition of alumni engagement and philanthropic support, which is critical for sustaining athletic and academic programs.

Research Budgets and Institutional Support

HBCU Research Budgets: Research funding at HBCUs is generally lower than that of Ivy League institutions. While some HBCUs, like Howard University, receive substantial federal research grants, many others struggle to secure consistent funding. For instance, HBCUs collectively received approximately $1.5 billion in research funding in 2019, a fraction of what Ivy League schools secure annually.

Ivy League Research Funding: In contrast, Ivy League institutions benefit from robust research budgets, with individual schools like Johns Hopkins receiving over $2 billion in annual research funding. This financial backing enhances their ability to integrate athletics with academic resources, providing student-athletes with more comprehensive support.

Holistic Development and Community Engagement

The Ivy League model emphasizes the development of well-rounded individuals. HBCUs share a similar mission of producing leaders who are socially conscious and community-oriented. Adopting the Ivy model’s focus on holistic development could resonate well with HBCUs’ core values. This approach can enhance student engagement and create a strong support system for athletes.

Influence of Ivy League Billionaires

The presence of wealthy alumni, often referred to as “Ivy League billionaires,” contributes significantly to the financial health of Ivy institutions. Notable alumni from Ivy League schools frequently engage in philanthropy, enhancing the schools’ resources for academics and athletics. HBCUs lack a comparable number of affluent alumni, which affects their fundraising potential and overall financial sustainability.

Potential Challenges and Considerations

Implementing the Ivy League model in HBCUs presents both opportunities and challenges:

  • Funding Limitations: The financial constraints of HBCUs compared to Ivy League schools necessitate a tailored approach. Without significant endowment and alumni support, fully adopting a no-athletic-scholarship model could limit HBCUs’ competitiveness in attracting top athletic talent.
  • Cultural Fit: The cultural and historical contexts of HBCUs differ significantly from those of Ivy League schools. Any model adopted must align with the unique missions and student populations of HBCUs.

While the Ivy League athletic model offers valuable insights into promoting academic achievement and holistic development, its application in HBCUs would require careful adaptation. Financial disparities in endowments, alumni giving, and research funding pose significant challenges. However, by focusing on the integration of academic and athletic excellence while fostering community engagement and support, HBCUs can create a unique model that reflects their values and enhances student success both on and off the field.

In the end, HBCUs have to accept the realities on the ground. We have tried chasing the golden ticket of athletics only to find out time and time again it is fool’s gold. It is not the thing that will alter the financial realities of our institutions. If anything it may be the thing that causes their failure as a looming admissions’ crisis is looming across all of American higher education and without a lot of dry powder on hand many institutions will easily go the way of the Dodo bird. It is time to think differently, think acutely, and chart a path that maybe uncomfortable or not what we originally imagined but will ensure the existence, sustainability, and success for future HBCU generations.

Disclosure: This was written with the assistance of ChatGPT.

Circulating The HBCU Business Dollar: HBCU Money Partners With Proud Product For The HBCU Money Logo Tee

HBCU Money has partnered with Proud Product to sell its HBCU Money Logo Tee through the HBCU Grad online store, creating a powerful collaboration that promotes both HBCU pride and financial empowerment. This partnership is a strategic move that brings together two brands dedicated to uplifting Historically Black Colleges and Universities (HBCUs) and fostering economic growth within the Black community.

HBCU Money is known for its commitment to financial literacy, economic development, and wealth-building strategies specifically tailored for HBCU students, graduates, and supporters. By teaming up with Proud Product, a brand that celebrates HBCU culture and academic excellence through apparel, this collaboration expands the reach of HBCU Money’s mission.

HBCU Grad’s Shopify-based platform provides an accessible and well-established marketplace for HBCU-themed merchandise, making it easier for supporters to purchase the HBCU Money Logo Tee. This partnership allows HBCU Money to leverage HBCU Grad’s e-commerce expertise and existing customer base while reinforcing a shared vision of empowering HBCU communities.

The HBCU Money Logo Tee, available in heather gray, is more than just a t-shirt—it represents a movement focused on financial awareness and economic independence. By purchasing this shirt through Proud Product, buyers are not only expressing their school spirit but also supporting two HBCU-owned brands that prioritize education, financial stability, and generational wealth.

This collaboration is an example of how HBCU-focused businesses can work together to amplify their impact. By joining forces, HBCU Money and Proud Product are strengthening the culture, supporting Black entrepreneurship, and promoting a message of financial empowerment—one t-shirt at a time.

Universal Pre-K Will Do More Harm Than Good To African American Children (Unless): A Critical Analysis

All kids need is a little help, a little hope and somebody who believes in them. – Magic Johnson

Universal Pre-K and early childhood development programs are something that is often lauded by the African American community as something that would assist our children and propel them academically in the future. Research shows that early childhood education has lasting long-term effects on children’s socioeconomic outcomes in almost every facet imaginable. However, currently quality early childhood education is largely reserved for more affluent communities. For good reason, the digital publication Prestige in their article ‘Inside the world’s most exclusive and expensive preschools’ noted, “We’re talking chef-made organic meals, sprawling campuses, and field trips to the Galapagos. Admission is highly competitive, often requiring interviews, assessments, and six-figure donations. For the one percent of the one percent, these exclusive early education experiences are less about ABCs and 123s and more about the connections and privilege.” The donations also do not remove one from the responsibility of the tuition which ranges annually from $20,000 to $30,000. These institutions offer art lessons, ballet classes, multiple languages, critical thinking and creativity, development of emotional intelligence, and much more. Things that many adults either get much later in life or never get at all. Having them instilled at three years old almost ensures a parabolic trajectory of success for the rest of life.

The notion that universal pre-k would close that gap is more wishful thinking that pragmatic reality. However, it is argued that something is better than nothing? It is also said that the road to hell is paved with good intentions and that is more likely the case for African American outcomes when it comes to universal pre-k than anything we wishfully hope would come from it. It may serve more as a de facto public day care experience than anything else where working class parents who need to be working and not able to afford day care and therefore caught in a vicious trap of working less and earning less because they cannot afford day care or working more and paying most of the additional income to day care to see a marginal income increase. African Americans in particular though should know by now that nothing is free even when it is said to be so.

We need only examine the outcomes of the public school system as it stands now for African Americans to realize what the outcomes of universal pre-k would produce. More of the same. Maybe worse because anti-indoctrination would essentially be happening immediately. While the argument for more early childhood education is a much needed one for African American children, it is also worth examining who would have the institutional ownership.

African American Schooling Post-Desegregation

Post-desegregation, African American education faced several challenges that have lingering effects today:

  1. Unequal Integration:
    • While desegregation aimed to provide equal opportunities, many African American students remain in segregated schools due to residential patterns and systemic inequities.
    • Even in integrated schools, African American students often experience lower expectations and unequal access to advanced coursework.
  2. Loss of Black Educators and Schools:
    • The closure of historically Black schools during desegregation displaced many Black educators, erasing culturally affirming spaces where African American students thrived.
    • This loss deprived students of role models who understood their cultural and community needs.
  3. Institutional Racism:
    • African American students in integrated schools often faced bias, tracking into lower-level courses, and disproportionate disciplinary actions. These patterns persist today, contributing to unequal educational outcomes.

Current Public School Outcomes for African American Students

The current state of public education reveals persistent inequities that universal pre-K could unintentionally exacerbate for African American children:

  1. Achievement Gaps:
    • African American students consistently score below their white peers on standardized tests, such as the National Assessment of Educational Progress (NAEP).
    • Contributing factors include under-resourced schools, limited access to advanced coursework, and a lack of culturally relevant curricula.
  2. Disciplinary Disparities:
    • African American students are disproportionately disciplined, with preschool-aged African American boys accounting for 43% of suspensions despite being only 19% of enrollment.
    • Early exposure to punitive measures increases the likelihood of negative long-term educational and social outcomes.
  3. Resource Inequities:
    • Schools serving predominantly African American communities are often underfunded, with larger class sizes, fewer qualified teachers, and outdated materials.
    • This lack of resources hinders early literacy, numeracy, and socio-emotional development.
  4. Cultural Disconnects:
    • Many public school curricula and teaching practices fail to reflect or affirm African American cultural identities, leading to disengagement and lower academic performance.

Afrocentric Pre-K in Partnership with HBCUs

To counteract these challenges, Afrocentric pre-K programs, implemented in partnership with Historically Black Colleges and Universities (HBCUs), present a transformative solution.

  1. Culturally Relevant Education:
    • Afrocentric curricula incorporate African and African American history, culture, and values, fostering a sense of identity and pride in young learners.
    • Lessons emphasize cooperative learning, creativity, and critical thinking, aligning with African cultural traditions.
  2. HBCU Involvement:
    • HBCUs have long been leaders in producing culturally competent educators and advancing African American scholarship. Partnering with HBCUs allows pre-K programs to draw on their expertise, resources, and community connections.
    • Education students at HBCUs can gain hands-on training through internships and practicum opportunities in Afrocentric pre-K settings.
  3. Teacher Training and Development:
    • HBCUs can offer professional development for pre-K educators, ensuring they are trained in culturally responsive teaching and child development.
    • Programs can also recruit and support Black educators, addressing the underrepresentation of African American teachers in early childhood education.
  4. Community Engagement:
    • Partnerships between Afrocentric pre-K programs and HBCUs can strengthen community ties, involving parents and local organizations in curriculum development and program governance.
    • Family engagement initiatives can provide parents with resources to support learning at home.
  5. Research and Evaluation:
    • HBCUs can lead research to assess the impact of Afrocentric pre-K programs on academic and social outcomes, ensuring continuous improvement.
    • Findings can inform policies to expand successful models nationally.

Key Features of Afrocentric Pre-K in Partnership with HBCUs

  1. Curriculum Highlights:
    • Focus on African diasporic history and cultural pride.
    • Integration of science, technology, engineering, arts, and mathematics (STEAM) with a culturally relevant lens.
    • Emphasis on social-emotional learning and conflict resolution rooted in community values.
  2. Accessible Locations:
    • Programs hosted on or near HBCU campuses to leverage facilities, staff, and community networks.
  3. Empowerment-Focused Funding:
    • Public and private funding to ensure accessibility for all African American families. This could be led by HBCU alumni creating endowments for these partnerships.
  4. Mentorship Opportunities:
    • Pairing pre-K students and their families with mentors from HBCU student bodies, fostering intergenerational learning and support.
  5. Holistic Approach:
    • Nutrition, healthcare, and family support services integrated into the program to address broader disparities impacting African American children.

Recommendations for Implementation

  1. Policy Advocacy:
    • Advocate for federal and state funding to establish Afrocentric pre-K programs in partnership with HBCUs.
    • Push for accountability measures to ensure equitable distribution of resources.
  2. Pilot Programs:
    • Launch pilot Afrocentric pre-K programs at selected HBCUs to refine the model and gather evidence of effectiveness.
  3. Community Collaboration:
    • Partner with African American community organizations, churches, and local businesses to support and sustain programs.
  4. Long-Term Expansion:
    • Use data from pilot programs to scale Afrocentric pre-K nationally, prioritizing areas with high African American populations and educational inequities.

Universal pre-K, if not carefully implemented and there is little reason to believe it would be, risks perpetuating systemic inequities faced by African American children. Afrocentric pre-K programs owned by the communities or even under a unified African American organization, developed in collaboration with HBCUs, offer a culturally affirming, high-quality alternative that addresses historical and contemporary challenges. By grounding education in cultural pride, community engagement, and academic rigor, these programs can equip African American children with the foundation they need to thrive academically and socially. This provides an opportunity for the African American education pipeline to be extended and strengthened from early childhood education through higher education in institutions of our own.

Our decisions at their core must revolve around the strengthening of the African American institutional ecosystem and educational pipeline. We are training the future leadership of our institutions and the work begins immediately.

African American To Africa: Howard University’s Volleyball Team Reminds Us Why Our Diasporic Relationship Is Critical

“I am not African because I was born in Africa but because Africa was born in me.” – Kwame Nkrumah

Sometimes even HBCUs forget that they are part of a global building of the African Diaspora’s building of social, economic, and political interests. The building of that interests strengthened the more African Diaspora institutions connect our ecosystem together and circulate our SEP capital among each other. Too often we get hung up on America desires and forget African responsibilities. As is often the case, the women of the tribe bring give us a gentle reminder as to where our focus needs to be.

Enter, Howard University’s Volleyball team and their voyage across Africa. If you have not heard the story by now, the team had an opportunity to go abroad and voted on where they should go. The team it was said overwhelmingly voted to head to the Motherland – Botswana and Zimbabwe, specifically. It would take the team and supporters raising $60,000 to fund the trip for 16 players and 4 coaches. For many PWIs, this would be simply a matter of picking up the phone and calling any handful of boosters to fund the trip, but at HBCUs we know things work a bit different. However, we also know when we put our mind to something, there is often very little that can stop us and the HBCU community was in full support of such a journey. Needless to say, many HBCU shareholders felt invested in making such a trip happen for a number of reasons.

While there they would participate in tournaments against teams from each of the aforementioned countries. It was an athletic immersion, cultural immersion, and as any African American can attest to their first time in Africa – a spiritual immersion. Historically Black Colleges and Universities (HBCUs) play a crucial role in the education and empowerment of African American students. Strengthening relationships with Africa is not only beneficial for HBCUs but also fosters mutual growth, cultural exchange, and academic collaboration. Here are several key reasons why these relationships are important:

Here are seven reasons why it is vital for of HBCUs to build relationships with Africa:

1. Cultural Exchange and Understanding

Building connections with African institutions allows HBCUs to engage in cultural exchanges that enrich the educational experience for students and faculty alike. Exposure to African cultures, languages, and histories enhances the curriculum and fosters a deeper understanding of the shared heritage between African Americans and their African counterparts. This cultural immersion can lead to a greater appreciation for diversity within the African diaspora.

2. Academic Collaboration and Research Opportunities

Partnerships with African universities can facilitate collaborative research initiatives addressing global challenges, such as public health, environmental sustainability, and social justice. Joint programs and projects allow HBCU faculty and students to contribute to meaningful solutions while benefiting from shared knowledge and resources. This collaboration can enhance the academic reputation of HBCUs and provide valuable research opportunities for students.

3. Enhancing Global Competence

In an increasingly interconnected world, fostering relationships with African institutions helps HBCU students develop global competencies. Understanding the political, economic, and social dynamics of African nations equips students with the skills needed to navigate and contribute to a global society. This experience is invaluable in preparing them for careers in international relations, global business, and public policy.

4. Economic Development and Entrepreneurship

Collaborative efforts between HBCUs and African institutions can promote entrepreneurship and economic development in both regions. Initiatives such as exchange programs, business incubators, and investment partnerships can create pathways for HBCU graduates to engage with African markets. This can stimulate job creation and economic growth, benefiting both communities.

5. Strengthening the African Diaspora

HBCUs can play a pivotal role in strengthening the ties within the African diaspora. By building relationships with Africa, they can contribute to a more unified understanding of shared struggles and successes. This connection fosters solidarity among people of African descent, promoting collective action on issues such as social justice, education, and economic empowerment.

6. Creating Opportunities for Students

Establishing partnerships with African universities opens doors for HBCU students to participate in study abroad programs, internships, and service learning opportunities. These experiences not only enhance their education but also allow them to build networks and gain firsthand insights into different cultural and social contexts.

7. Promoting Research on African Issues

HBCUs can leverage their unique perspectives to conduct research that addresses challenges faced by African nations. By focusing on topics such as health disparities, education, and development, HBCUs can contribute valuable insights and innovative solutions that benefit both African communities and the global academic community.

The relationships between HBCUs and Africa are crucial for promoting cultural exchange, academic collaboration, and economic development. By fostering these connections, HBCUs can enhance their educational offerings, prepare students for a globalized world, and strengthen the ties within the African diaspora. Ultimately, these relationships can lead to mutual growth and a deeper understanding of the rich tapestry of African and African American histories and cultures. By nurturing this connection, African Americans can strengthen their identities, honor their histories, and collaborate with others in the diaspora to address shared challenges. This relationship ultimately enriches the African American experience and contributes to a more unified and empowered global community of people of African descent.

Disclosure: This article was assisted by ChatGPT. 

 

What Is To Become Of African American Baby Boomers’ $188 Billion In Wealth?

“Everything that I’ve gone through informs me and my opinions in a way, I guess because I am a child of segregation. I lived through it. I lived in it. I was of it.” – Samuel L. Jackson

One thing most financially literate people realize is that it is not how much you make, but it is how much you keep. Those who are of a wealth building mindset realize it is not how much you keep, but how much of your capital is actually working to make you wealthier without your labor being attached to it. African American individuals, households, and institutions struggle in both cases, but mightily in the latter. Most African American wealth, as highlighted by the amount of time the African American dollar remains in our community (less than 6 hours), does little to no work for the wealth building of those three entities. A major reason for this is that African American individuals, households, and yes, even institutions put little to none of their money in African American institutions – ironically.

Economic Disparities

“According to a report by the Federal Reserve, the median net worth of African American households headed by someone aged 55-64 (who would generally be considered Baby Boomers) was around $39,000 in 2019. This is substantially lower than the median net worth of European American households in the same age group, which was around $184,000 in 2019. It’s important to note that there is significant variation within both groups, and wealth is influenced by a range of factors including income, education, and access to resources.”

Insider Intelligence gives a generational demographic breakdown reporting that, “Baby boomers were the largest living adult population until 2019. According to the US Census Bureau, US boomers have remained the second-largest population group in 2022, comprised of 69.6 million people ages 58 to 76.” And Statista reports that there are 43.26 million Boomer households meaning that approximately 4.8 million of those are African American. This then puts African American Baby Boomer wealth at approximately $187.2 billion – but what of it?

Each eldest generation will push wealth forward one way or another. Where it flows though can be largely up to the person. Some will push it to the next generation of family and friends, charities and organizations, and there are a host of other options of where money can find itself as one begins to consider their legacy both in the here and now or from the beyond. One things is crystal clear though from a Brookings Institute study, African Americans are falling behind with every passing generation, “30% of European American households received an inheritance in 2019 at an average level of $195,500 compared to 10% of African American households at an average level of $100,000.” African Americans both receive 50 percent less than their European American counterpart and European Americans are three times more likely to get an inheritance than their African American counterpart – but again what of it?

While the wealth of even African American Baby Boomers is not that of their counterparts, it should have the opportunity to make far more considerable impact than it probably actually will. As African American baby boomers age, a significant transfer of wealth is expected to occur. This presents an opportunity for younger generations to invest in education, home ownership, and entrepreneurial ventures. However, research indicates that many African American families face systemic barriers, such as lower access to financial resources and education, which could impact how this wealth is utilized and preserved.

Despite the considerable wealth held by baby boomers, economic disparities persist within the African American community and its institutions. Issues such as income inequality, lack of business ownership, access to African American owned financial institutions, limited access to financial literacy resources, and a disconnected institutional ecosystem can hinder the effective management and growth of inherited wealth. Addressing these disparities will be crucial in ensuring that future generations can leverage this wealth for long-term benefits.

Philanthropy and Community Investment

Many African American baby boomers are inclined to support causes that uplift their communities. This philanthropic inclination could lead to increased investment in African American nonprofits, education initiatives, and other community organizations. By directing funds towards institutional development, these donors can help address systemic issues and create lasting change.

Financial Planning and Literacy

The management of this wealth will largely depend on the financial literacy of both the current baby boomer generation and their heirs. Increasing access to financial education, resources, and African American owned financial institutions is essential to ensure that wealth is not only preserved but also strategically invested. Programs aimed at enhancing financial connectivity between African American households and African American financial institutions within the African American community can play a significant role in maximizing the impact of this wealth.

The fate of the $188 billion in wealth held by African American baby boomers is not just about the transfer of assets; it’s about how those assets can be utilized to build a stronger future for the community. By focusing on education, philanthropy, and addressing systemic barriers, there is potential for this wealth to make a profound impact on the lives of future generations. Ensuring that this wealth is effectively managed and directed towards meaningful causes will be crucial in shaping a more equitable and prosperous future for the African American community. In the end, the only real question is how much of the $188 billion will end up in African American institutions. Whether those organizations be African American social, economic, or political institutions is up to the household, but this is the most acute potential for institutional transformation that African America will have seen since 1865.

Disclosure: This article was assisted by NOVA AI and ChatGPT.