Category Archives: Lists

HBCU Money’s 2020 Top 10 HBCU Endowments

For the first time since we began reporting the Top Ten HBCU endowments, an HBCU endowment that we knew should be present but was not reporting is now present – Morehouse College. Hopefully next year we will see Tuskegee University join the fray. This provides a far more accurate picture of the HBCU endowment picture, at least at the top. While many will wonder why the endowments do not appear larger after massive donations that happen in 2020, it should be understood that many donations will not be reflective in the institutions endowment figures until fiscal year 2021 is reported so expect to see massive jumps for many HBCUs in the next calendar year.

However, examining the HBCU endowment world prior Mackenzie Scott’s 2020 philanthropy shows Howard University powering ahead toward becoming the first HBCU endowment to $1 billion. Their lead over number two Spelman extended from $302 million in 2019 to $355 million in 2020. Unfortunately, only four of the ten HBCU endowments saw increases in their endowment market value, while amongst the PWI’s Top Ten endowments all ten saw increases in their market value.* The Top Ten PWI endowments for 2020 combined for $199.8 billion versus $2 billion for the Top Ten HBCU endowments showing an institutional wealth gap of almost $100 to $1.

There is going to be a continued mixed bag of endowment reality among HBCUs. The Have and Have Nots among HBCU endowments has exacerbated and despite the attention during 2020 most smaller HBCUs have yet to secure donations that would secure their future. Even many of those who did are still sitting in a precarious perch. The NACUBO average endowment is over $907 million, an amount that is almost five times the average HBCU endowment and an average that not even Howard has reached yet. This means that while the “lottery” donations from non-HBCU sources is great, it absolutely does not remove the charge from HBCU alumni of being vigilant givers to their institutions. If HBCUs could simply get more of their alumni giving small amounts on a consistent basis that would do wonders for improving endowments. It goes without saying the other reality is that all HBCUs need to increase their student populations so that they are graduating more alumni and therefore more potential donors.

HIGHLIGHTS:

  • HBCU Endowment Total – $2.0 billion
  • Number of PWIs Above $2 billion – 55
  • Number of PWIs Above $1 billion – 114
  • HBCU Median – $95.6 million (-2.62%)
  • NACUBO Median – $165.7 million (0.58%)
  • HBCU Average – $187.7 million (0.13%)
  • NACUBO Average – $903.1 million (1.56%)

All values are in millions ($000)

1. Howard University – $712,410 (2.83%)

2. Spelman College – $377,942 (-3.21%)

3.  Hampton University – $280,598 (-0.69%)

4.  Morehouse College – $157,081 (0.64%)

5.  Meharry Medical College – $156,719 (-1.53%)

6. Florida A&M University – $95,635 (-2.63%)

7. North Carolina A&T State University  – $73,809 (7.82%)

8.  University of the Virgin Islands – $66,894 (-6.68%)

9. Tennessee State University – $63,020 (3.12%)

10. Virginia State University – $56,149 (-2.15%)

OTHERS REPORTING:

*The change in market value does NOT represent the rate of return for the institution’s investments. Rather, the change in the market value of an endowment from FY19 to FY20 reflects the net impact of:
1) withdrawals to fund institutional operations and capital expenses;
2) the payment of endowment management and investment fees;
3) additions from donor gifts and other contributions; and
4) investment gains or losses.

SOURCE: NACUBO

Take a look at how an endowment works. Not only scholarships to reduce the student debt burden but research, recruiting talented faculty & students, faculty salaries, and a host of other things can be paid for through a strong endowment. It ultimately is the lifeblood of a college or university to ensure its success generation after generation.

11 Black Trade/Professional Organizations You Have Never Heard Of – But Should Join Today

“Networking has been cited as the number one unwritten rule of success in business. Who you know really impacts what you know.” – Sallie Krawcheck

Our founder and chief economist, William A. Foster, IV, has a favorite saying, “Your net worth is a reflection of your network.” If you want to ascend to greater heights you have to connect with others who are also doing so. The people we associate with and the organizations we belong to can propel us socially and financially throughout our careers. However, knowing where to find professional networks and organizations has often proved challenging for African Americans not already in ‘the know’. Some of the more well known African American professional organizations are NABE (National Association of Black Engineers), NBMBAA (National Black MBA Association), and even NABA (National Association of Black Accountants) to name a few. You also do not have to be in that specific field to join that particular organization. A psychology major is not limited to only psychology trade/professional organizations. In fact, it is very important to join organizations that have no links with your current field to give yourself a more worldly view and expanded possibilities of opportunities. An accountant joining NABE may find out about an opportunity for an accountant position at an engineering firm or find a co-founder to launch their own engineering firm. Ultimately, the networking of African American professionals, especially HBCU graduates, into our own trade/professional organizations helps to strengthen and circulate the social and intellectual capital of African America’s private sector and therefore African America itself.

NABHOOD – National Association of Black Hotel Owners, Operators, and Developers

“Our primary goal here at NABHOOD is to increase the number of African-Americans developing, managing, operating and owning hotels; increase vendor opportunities & executive level jobs for minorities, thereby creating wealth within the African-American community. We do this by providing information about hotel ownership, investing, supplier opportunities, employment and other resources; our Annual International African American Hotel Ownership & Investment Summit & Trade Show is our best resource to help us accomplish this.”

AABE – American Association of Blacks in Energy

“The American Association of Blacks in Energy (AABE) is a national association of energy professionals founded and dedicated to ensure the input of African Americans and other minorities into the discussions and developments of energy policies regulations, R&D technologies, and environmental issues.”

NBMOA – National Black McDonald’s Operators’ Association

“The National Black McDonald’s Operators Association (NBMOA) is a 47 year old Organization dedicated to ensuring that African American McDonald’s Owners are fully engaged in all of the benefits associated with owning McDonald’s restaurants. The NBMOA goal is the complete integration of NBMOA members, African American Employees and Vendors into the McDonald’s system. The NBMOA also works diligently to make sure that McDonald’s fully engage the African American community in a respectful and positive manner.”

NABFM – National Association of Black Food Manufactures

“The NABFM is a newly established nonprofit that exists to be a voice for people of African descent in food and beverage manufacturing. It was founded to address the unique needs of our community as we seek to gain further entry into the food manufacturing, supplier and related industries for our ultimate success.”

NBTEBA – National Black Tech Ecosystem Builders Association

“The National Black Tech Ecosystem Builder Association will unite black tech startup support organizations, black faith communities, K thru 12th Black STEAM educators, HBCUs, black civic tech organizations, and black technology organizations. The Association will empower on-the-ground black tech activists and black tech ecosystem builders to eradicate racial tech disparities in their cities by helping them to strengthen their local black tech ecosystems.”

OBAP – Organization of Black Aerospace Professionals

“OBAP will be a world-leading organization that changes lives by creating a pathway to success through educating youth, communities, and professionals—shaping an aerospace industry as diverse as the people we serve.”

NAAIA – National African American Insurance Association

“NAAIA is dedicated to empowering African American insurance professionals currently in the industry as well as celebrating their accomplishments. NAAIA is also committed to attracting talented individuals to the insurance industry. Through our work and affiliation with other organizations we are dedicated to increasing the awareness of opportunities and the attractiveness of careers in the insurance industry.”

OBMG – Organization of Black Maritime Graduates

“To assist and encourage by educating and increasing public awareness regarding minority involvement in the maritime and engineering industries through recruitment, mentoring, scholarships, and networking.”

AAAFA – Association of African American Financial Advisors

“AAAA is a non-profit membership organization for African American financial advisors and affiliated professionals. We work in alliance with academic leaders at HBCUs that support financial planning degree programs, legislative and regulatory bodies, financial services firms and consumer interest organizations. AAAA fosters the value of financial planning and advances the financial planning profession.” 

OBD – Organization of Black Designers

“OBD is a national professional organization of interior, industrial, architectural, fashion and graphic designers dedicated to promoting the visibility, empowerment, education and interaction of its membership and the understanding and value that diverse design perspectives contribute to world culture and commerce.”

RBCA – Regional Black Contractors Association

“The RBCA maintains very effective working relationship with state, municipal, and corporate leaders and their supplier diversity executives, elected and appointed officials for the support of African-American business development. Locally, statewide and in Washington, DC, we are constantly monitoring of pending legislation that might affect our member’s businesses, their growth and even their ability to conduct business. When legislation is being considered that affects our mission, the RBCA quickly mobilizes to work with key policy makers to support and ensure that every opportunity is available for the RBCA and its members.”

HBCU Money’s 2019 Top 10 HBCU Endowments

The adjective that best describes 2019 HBCU endowments – uninspiring. HBCU flagship endowments barely moved over the past calendar year. Of all reporting endowments, only The University of the Virgin Islands saw double digit gains in their endowment market value. Since breaking into the top 10 HBCU endowments in 2014, UVI has been on a meteoric rise almost doubling their endowment over the past six years and has become something of a canary in a coal mine.

There is plenty of blame to go around, but the jest of the matter is HBCUs and HBCU alumni associations continue to not do a good enough job of hammering financial and philanthropic literacy among their constituents. This leads to either a lack of investing or no investing at all among HBCU alumni and HBCU alumni associations and therefore a paltry engagement both from an alumni giving rate and alumni giving amounts. Simply put, there are still far too many HBCU alumni and students who do not know what an endowment is or its purpose and it is reflected in the endowments of our institutions.

If there is any solace to be taken from this year’s numbers, it is that HBCU endowments are largely in line with the overall sentiment of America’s college and university endowments. Unfortunately, the median HBCU endowment is less than 44 percent of the overall NACUBO median reporting endowment and HBCU endowments are just barely 18 percent of the NACUBO average reporting endowment.

HIGHLIGHTS:

  • HBCU Endowment Total – $2.1 billion
  • Number of PWIs Above $2 billion – 54
  • Number of PWIs Above $1 billion – 108
  • HBCU Median – $64.8 million (4.07%)
  • NACUBO Median – $149 million (5.02%)
  • HBCU Average – $148 million (4.25%)
  • NACUBO Average – $816.4 million (4.24%)

All values are in millions ($000)

1. Howard University – $692,832 (0.62%)

2. Spelman College – $390,462 (0.27%)

3.  Hampton University – $282,543 (-0.98%)

4.  Meharry Medical College – $159,146 (-0.48%)

5.  Florida A&M University – $98,213 (1.93%)

6.  University of the Virgin Islands – $71,684 (15.83%)

7. North Carolina A&T State University  – $68,459 (7.58%)

8.  Tennessee State University – $61,110 (4.11%)

9. Virginia State University – $57,383 (5.33%)

10.  Winston-Salem State University – $49,755 (7.66%)

OTHERS REPORTING:

Take a look at how an endowment works. Not only scholarships to reduce the student debt burden but research, recruiting talented faculty & students, faculty salaries, and a host of other things can be paid for through a strong endowment. It ultimately is the lifeblood of a college or university to ensure its success generation after generation.

Source: NACUBO

HBCU Money Presents: 2017’s African American Farmers Report

The state of African American farms continues to be a vital component to the African American economy, this despite investment and participation in it on a downward trend. We are highlighting key findings from the 2017 USDA Agriculture Census with 2012 comparison in parentheses where available.

Number of Farms: 35,470 (36,382)

Land in farms (acres): 4,673,140 (4,563,805)

Average size of farm (acres): 132 (125)

Market Value of products sold: $1,416,256,000 ($1,311,6332,000)

Market Value of crops sold: $857,698,000

Market value of livestock, poultry, & products: $558,558,000

Government payments: $58,807,000 (60,731,000)

Average Per Farm Receiving Payments: $7,108 ($5,509)

69 Percent of African American Farms are between 10-180 acres

4 Percent of African American Farms are over 500 acres

43 percent of African American farmers are over the age of 65

5 percent of African American farmers are under the age of 35

 

HBCU Money™ Presents: 2019’s HBCU Alumni NFL Players & Salaries

The 6th annual installment of tracking the earnings of HBCU alumni who are NFL players, the University of Arkansas-Pine Bluff’s Terron Armstead retains the crown with a $5.5 million raise over his 2018 salary.

HBCU Money™ FACTS:

  • HBCU NFL players combine for $43.6 million, an almost 13 percent increase from 2018, when HBCU NFL players earned $38.7 million.
  • South Carolina State University & North Carolina A&T are tied with 4 NFL players each.
  • The SWAC has 9 players versus the MEAC’s 12 players in the league.
  • Average salary for HBCU NFL players is $1.9 million, an increase of $100,000 from 2018.
  • Median salary for HBCU NFL players is $930,000.
  • HBCU players account for 1.4 percent of the NFL’s 32 team active roster spots.
  1. Terron Armstead /UAPB / $15.8 million
  2. Antoine Bethea / Howard / $3.625 million
  3. Chester Rogers / Grambling State / $3.095 million
  4. Joe Thomas / South Carolina State / $2.237 million
  5. Tytus Howard (R) / Alabama State / $2.223 million
  6. Javon Hargrave / South Carolina State / $2.198 million
  7. Rodney Gunter / Delaware State / $1.75 million
  8. Ryan Smith / North Carolina Central /$1.697 million
  9. Darius Leonard / South Carolina State / $1.647 million
  10. Isaiah Crowell / Alabama State / $1.25 million
  11. Antonio Hamilton / South Carolina State / $1 million
  12. Brandon Parker / North Carolina A&T / $930,758
  13. Tarik Cohen / North Carolina A&T / $803,914
  14. Grover Stewart / Albany State / $749.912
  15. Tony McRae / North Carolina A&T / $645,000
  16. KhaDarel Hodge / Prairie View A&M / $570,000 (Tied)
  17. Trent Scott / Grambling State / $570,000 (Tied)
  18. Darryl Johnson / North Carolina A&T / $519,522
  19. Joshua Miles / Morgan State / $513,664
  20. Trent Cannon / Virginia State / $511,096
  21. Danny Johnson / Southern / $510,862
  22. Jamie Gillan / UAPB / $498,333
  23. Da’Lance Turner / Alcorn State / $268,235