Tag Archives: hbcu philanthropy

HBCU Medical Schools Lead Gifts Of $1 Million Or More To HBCUs in 2015


If you have something to give, give it now. – Mark Bezos

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After only one donation of $1 million or more to HBCU in s 2013, in 2014 HBCUs landed an astounding nine, but the upward trend was not to continue. In 2015, HBCUs landed just four of the 530 donations that were of $1 million or more that found there way to American colleges and universities. That equates to 0.75 percent, while HBCUs constitute approximately three percent of the country’s higher education institutions. The nine donations in 2014 were a combined $20.5 million, while 2015’s foursome combined for $7 million.

Leading this year’s donors was Hammerin’ Hank Aaron with a donation of $3 million to the Morehouse School of Medicine. The baseball legend’s donation according to the press release by the school, “will be used to expand the Hugh Gloster Medical Education building and create the Billye Suber Aaron Student Pavilion.” However, the wealthiest donor among the group was billionaire Bill Gross, co-founder of the PIMCO investment firm with $1.5 trillion in assets under management, and his wife. Their donation was second among the group with a $2 million gift to Charles Drew University of Medicine & Science. HBCU medical schools are leaders within the HBCU research community constituting three of the top ten HBCU research institutions. These donations should only strengthen that resolve.

With African American owned banks seeing a huge engagement in 2016, it is possible that this may translate to institutional investments for HBCUs if the seeds of current sentiment are nurtured by leadership. This is an opportunity that HBCUs simply can not afford to miss, both financially and socially. Especially considering the higher education arms race for donors and the top four HWCU/PWI donations totaling $950 million in 2015. Building relationships with African American athletes and entertainers as donors as well as looking abroad in the African Diaspora would greatly increase the possibility of landing more of the eight and nine figure donations that are desperately needed.

The growth in the number of $1 million or more donations is a positive if it continues, but the amounts as well need to see dramatic increases as well for us to make sure our institutions are viable for generations to come.

1. Hank Aaron – $3 Million
Recipient: Morehouse School of Medicine
Source of Wealth: Transportation

2. William H. & Sue Gross – $2 Million
Recipient: Charles Drew University of Medicine & Science
Source of Wealth: Finance, Investments

3. Charles Barkley – $1 Million                                                                     Recipient: Morehouse College
Source of Wealth: Entertainment

4. Jimmie Edwards – $1 Million                                                                          Recipient: Dillard University
Source of Wealth: Chemicals

Source: The Center for Philanthropy

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Nine Donations Of $1 Million Or More Find Their Way To HBCUs in 2014


Trammell_CrowPhoto

Never respect men merely for their riches, but rather for their philanthropy; we do not value the sun for its height, but for its use. – Gamaliel Bailey

There was thankfully almost no where to go but up after The Center for Philanthropy’s 2013 database reported HBCUs garnered only one $1 million or more donation out of the 559 to colleges and universities. However, with overall $1 million or more donations in 2014 to colleges and universities down 7.5 percent there was not much expectation that HBCUs would see a substantial increase from the previous year. Yet, a substantial increase there was as nine donations of $1 million or more found their way into HBCU hands out of the 517 to colleges and universities in 2014. This represents an increase from 0.2 percent to 1.7 percent of the overall donations year over year.

It is not all glitter and gold though. The gap between the top donations to HBCUs vs. HWCUs highlights both the institutional and household wealth gap that persist in this country. Combined, the nine donations totaled an impressive $20.5 million for HBCUs. Unfortunately if you take the top nine to HWCUs that number is $1.2 billion or 56 times greater. The gap between the largest donations is even bigger. Harvard University received a $350 million gift, while Paul Quinn College received a $4.4 million gift or an amount almost 80 times less. Transformative donors who can change the paradigm of an entire institution with one donation are much harder to come by for HBCUs. Transformative donations can be different amounts for different size institutions, but the definition lends itself to a minimum of $50 million and above for HBCUs. A figure that would double the bottom half of the top ten HBCU endowments and move the needle double digits on the upper half of the top ten HBCU endowments.

So what is holding back these transformative donations to HBCUs? A myriad of factors. Most transformative donors are titans of industry throughout America and the world. Their ownership in corporations and investments lends them the wealth to do such. African America’s disproportionate labor presence in the public sector where incomes are limited, lack of entrepreneurship, and lack of overall investment in our own institutions often aborts the ability for capital to circulate in African America. However, as more HBCUs are creating entrepreneurship centers on their campuses this could prove in the long-term a positive shift. In the short term, there has to be more emphasis on securing donations from the likes of African American celebrities willing to both give seven figure donations and lend their public capital to the institutions in the way of attracting more donors. That is if HBCUs can throw off their issues of being donor image conscious.

The growth in the number of $1 million or more donations is a positive if it continues, but the amounts as well need to see dramatic increases as well for us to make sure our institutions are viable for generations to come.

1. Trammell S. Crow – $4.4 Million
Recipient: Paul Quinn College
Source of Wealth: Family wealth, Real estate

2. Alfred C. Liggins – $4 Million
Recipient: Howard University
Source of Wealth: Media and entertainment

3. Ada Cecilia Collins Anderson – $3 Million                                                  Recipient: Huston-Tillotson University
Source of Wealth: Insurance, Real estate

4. Anonymous – $2.1 Million                                                                          Recipient: Virginia Union University
Source of Wealth: N/A

5. Anonymous – $2 Million                                                                             Recipient: Stillman College
Source of Wealth: N/A

6. Steve and Anne Pajcic – $2 Million                                                        Recipient: Edward Waters College University
Source of Wealth: Law

7. Nicholas Perkins – $1 Million                                                                    Recipient: Fayetteville State University
Source of Wealth: Food and beverage

8. Josh Smith – $1 Million                                                                                Recipient: Central State University
Source of Wealth: Consulting

9. William R. & Norma B. Harvey – $1 Million                                                  Recipient: Talladega College
Source of Wealth: Education, Manufacturing

Source: The Center for Philanthropy