Tag Archives: harvard endowment

HBCU Money’s 2016 Top 10 HBCU Endowments


piggybank

2016 was a rough year for the world, it was even afforded a scary movie trailer, and top ten HBCU endowments were not spared the carnage. Eight out of the top ten HBCU endowments saw negative changes in their market value. The only two to be spared the rod were Meharry Medical College and rising supernova, University of Virgin Islands, who not only led all HBCUs in market value percentage increase, but was second among all American and Canadian institutions reporting in that category. Howard University continues to hold the number one spot and sheer inertia could carry it onto becoming the first billion dollar HBCU endowment. However, after being the star of the top ten last year, Howard finds itself the dog of the show this year with the worst market value percentage performance.

Since breaking into the top ten a few years ago, University of Virgin Islands continues its ascension up the ranks. It is clear they have the special sauce in the islands and if the winds continue in their favor, then the school in Nassau could give HBCUs its sixth endowment over $100 million in short order. Another notable endowment, Texas College with an endowment of only $3.2 million, did see the second highest market change percentage of HBCUs at 6.8 percent.

After a notable absence last year, Florida A&M University, has returned to the list and takes its place as HBCU nation’s fifth endowment over $100 million. This in comparison to 93 of the 799 HWCUs reporting with endowments over the $1 billion mark. Reminding us there is a long way to go before institutional economic equality is achieved.

As always, if you do not see your HBCU in the top 10 – DONATE!**

Endowment in millions $000 (Change in Market Value*)

1. Howard University – $685 775  (-8.5%)

2. Spelman College – $346 789 (-4.5%)

3.  Hampton University – $253 814 (-3.6%)

4.  Meharry Medical College – $142 703 (2.6%)

5. Florida A&M University – $113 117 (N/A)

6.  University of the Virgin Islands – $54 968 (60.4%)

7.  Tennessee State University – $50 246 (-2.3%)

8.  Texas Southern University – $48 163 (-1.1%)

9.  North Carolina A&T State University  – $48 074 (-0.1%)

10. . Virginia State University – $45 812 (-3.4%)

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.

endowment-works-1

*Note: 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 FY2015 to FY2016 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.

** Notable exclusions to the list that HBCU Money believes would otherwise make the top ten are Morehouse College, Tuskegee University, and Dillard University. These HBCUs have never reported their endowment to NACUBO in the time HBCU Money has been recording its annual top ten endowments.

Additional Notes:
NACUBO Average Endowment – $640 737 (-2.9%)
NACUBO Median Endowment – $120 330 (-1.3%)
Top 10 HWCU Endowments combined – $182.5 billion
Source: National Association of College & University Business Officers

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America’s 2014 Top 10 College Donations


rongeraldchan

In the world of philanthropy there are two types of donors that development offices love. High-quality donors who give consistently and over their lifetime will probably give six to seven figures of donations. Often these donors leave the bulk of their donation through their estate. The second are transformative donors who can change the paradigm of an entire institution with one donation. These donors are masters of their universe with the wealth and power they wield and often the barons of their particular industry. Donations from transformative donors range from eight to nine figures.

The 2014 top donors definitely saw a pull back from their 2013 giving. Combined donations came in $500 million lighter than last year. However, this year was led by two brothers, Ronald and Gerald Chan (pictured above), who donated $350 million to Harvard’s School of Public Health.  Their donation is equal to 10 percent of Harvard’s endowment, which still is the world’s largest college and university endowment.

ABOUT THE DONATIONS:

Total Giving Combined – $2.0 Billion

Median Donation – $60 Million

Average Donation -$79.4 Million

The combined donations are equal to all HBCU endowments combined.

ABOUT THE DONORS:

Total Net Worth Combined – $42.8 Billion reported

Median Net Worth – $2.2 Billion reported

Average Net Worth – $4.3 Billion reported

This year was extremely geographically diverse with 16 different states being represented. California, New York, and Illinois all tied for three apiece.

1. Morningside Foundation (Gerald & Ronald Chan) – $350 Million
Recipient: Harvard School of Public Health
Source of Wealth: Family wealth, Finance, Investments
Net Worth: $2.4 Billion

2. Kenneth C. Griffin – $150 Million
Recipient: Harvard University
Source of Wealth: Finance
Net Worth: $6.5 Billion

T3. Fred Eshelman – $100 Million
Recipient: University of North Carolina at Chapel Hill, Eshelman School of Pharmacy
Source of Wealth: Health products
Net Worth: N/A

T3. Anonymous – $100 Million
Recipient: Oregon Health & Science University Foundation
Source of Wealth: N/A
Net Worth: N/A

T3. Anonymous – $100 Million
Recipient: Dartmouth College
Source of Wealth: N/A
Net Worth: N/A

T4. David Rockefeller – $75 Million
Recipient: Rockefeller University
Source of Wealth: Family wealth, Finance
Net Worth: $3 Billion

T4. John W. Jordan II – $75 Million
Recipient: University of Notre Dame
Source of Wealth: Finance
Net Worth: N/A

T4. Alfred C. Warrington IV & Judy Warrington – $75 Million
Recipient: University of Florida, Warrington College of Business Administration
Source of Wealth: Industry
Net Worth: N/A

T4. Sandra & Edward Meyer Foundation – $75 Million
Recipient: Weill Medical College of Cornell University
Source of Wealth: Advertising
Net Worth: N/A

5. Jay H. Shidler – $69 Million
Recipient: University of Hawaii Foundation
Source of Wealth: Investments, Real Estate
Net Worth: $700 Million

T6. Charles T. Munger – $65 Million
Recipient: University of California – Santa Barbara
Source of Wealth: Investments
Net Worth: $1.3 Billion

T6. Albert P. Viragh (deceased) – $65 Million
Recipient: John Hopkins Medicine, Sidney Kimmel Comprehensive Cancer Center
Source of Wealth: Finance, Investments
Net Worth: N/A

T7. Vanier Family – $60 Million
Recipient: Kansas State University
Source of Wealth: Agriculture
Net Worth: N/A

T7. Mulva Family Foundation (James & Miriam Mulva) – $60 Million
Recipient: University of Texas at Austin
Source of Wealth: Energy, Oil
Net Worth: N/A

8. Madison and Lila Reetz Self – $58 Million
Recipient: University of Kansas
Source of Wealth: Chemicals, Finance
Net Worth: N/A

9. Kavitark & Vidjealatchoumy Shriram – $57 Million
Recipient: Stanford University
Source of Wealth: Technology
Net Worth: $1.9 Billion

T10. Ronald & Eileen Weiser – $50 Million
Recipient: University of Michigan at Ann Arbor
Source of Wealth: Real estate
Net Worth: N/A

T10. Steve & Connie Ballmer – $50 Million
Recipient: University of Oregon
Source of Wealth: Technology
Net Worth: $20.6 Billion

T10. David & Cheryl Strauss Einhorn – $50 Million
Recipient: Cornell University
Source of Wealth: Finance
Net Worth: $2 Billion

T10. Donald (deceased) & Marilyn Keough – $50 Million
Recipient: University of Notre Dame
Source of Wealth: Food and beverage
Net Worth: N/A

T10. Jimmy Haslam – $50 Million
Recipient: University of Tennessee at Knoxville
Source of Wealth: Family wealth, Retail
Net Worth: $2.8 Billion

T10. Agnes Nelms Haury – $50 Million
Recipient: University of Arizona Foundation
Source of Wealth: Family wealth
Net Worth: N/A

T10. Thomas Kline – $50 Million
Recipient: Drexel University, Thomas R. Kline School of Law
Source of Wealth: Law
Net Worth: N/A

T10. Norm Asbjornson – $50 Million
Recipient: Montana State University
Source of Wealth: Manufacturing
Net Worth: N/A

T10. Gary K. Michelson – $50 Million
Recipient: University of Southern California
Source of Wealth: Health care, Invention
Net Worth: $1.6 Billion