Tag Archives: Howard University

HBCUs Can Fill the Void: How America’s Retreat from Polar Research Creates an Unprecedented Opportunity for Black Academic Leadership

“When I’m asked about the relevance to Black people of what I do, I take that as an affront. It presupposes that Black people have never been involved in exploring the heavens, but this is not so. Ancient African empires – Mali, Songhai, Egypt – had scientists, astronomers. The fact is that space and its resources belong to us, not to any one group.” – Mae Jemison

The United States government’s recent decision to withdraw its only research vessel from Antarctica represents more than a logistical setback for American science it signals a historic opportunity for Historically Black Colleges and Universities to claim leadership in one of the world’s most critical research frontiers.

When scientists like Alison Murray learned their Antarctic diving research would be indefinitely postponed due to the vessel withdrawal, it exposed a troubling reality: America is ceding scientific leadership in polar regions at precisely the moment when climate research has become existentially urgent. Yet within this crisis lies an opening that forward-thinking HBCU leaders and initiatives like the proposed HBCU Exploration Institute (HEI) should seize immediately.

The withdrawal of U.S. research capabilities from Antarctica isn’t happening in isolation. It reflects broader federal retreat from exploratory science across multiple domains from deep-sea mapping to atmospheric research to space exploration. As scientists told The Washington Post, building a replacement vessel could take years, leaving a generation of young researchers without access to critical field sites and diminishing American influence on a continent where geopolitical and scientific stakes are rising rapidly.

Currently, only a handful of nations operate dedicated Antarctic vessels capable of navigating the continent’s treacherous ice-choked waters. As America pulls back, countries including China, Russia, and even smaller nations are expanding their polar research fleets and infrastructure. This isn’t merely about scientific prestige it’s about who shapes climate policy, who controls access to research sites, who sets international standards for environmental stewardship, and ultimately, who benefits from discoveries made in these frontier regions.

For HBCUs, this federal abandonment creates a three-fold opportunity: to fill genuine research gaps with immediate societal value, to establish institutional leadership in high-stakes scientific domains, and to fundamentally reframe the narrative about who leads exploration and discovery in the 21st century.

The HBCU Exploration Institute concept outlined in its founding business plan isn’t simply about participating in exploration it’s about transforming who controls the means of discovery. The proposed organization would operate research vessels, aircraft, field stations, and space payloads governed and staffed by HBCU talent, creating a parallel infrastructure to traditional federal research systems. This model offers several strategic advantages in the current moment. First, HBCUs can move with greater institutional agility than large federal bureaucracies. While government agencies debate budget allocations and political appointees shift priorities with each administration, a Pan-African, HBCU-led exploration organization could secure diverse funding streams—from philanthropic foundations to international partnerships to corporate sponsors—that insulate research from political winds.

HBCUs bring essential perspectives to exploration science that mainstream institutions have historically marginalized. The concept of “exploration power” examining whose data is gathered, who gathers it, and who benefits is central to HEI’s mission. This isn’t abstract ethics; it’s practical strategy. Research conducted in partnership with African and Caribbean institutions, for example, can build diplomatic relationships and shared intellectual property frameworks that strengthen both African American and African Diaspora scientific capacity. The HBCU network represents untapped human capital. Talented Black students and faculty have faced persistent barriers to entry in traditional exploration fields, from oceanography to aerospace. An HBCU-led initiative could create direct pipelines from undergraduate research to polar expeditions to faculty positions, bypassing gatekeeping mechanisms that have kept exploration science predominantly white and economically privileged.

Perhaps most significantly, launching an HBCU exploration initiative at this moment positions these institutions as leaders not just in American higher education, but within the global African diaspora’s intellectual ecosystem. African and Caribbean nations are rapidly expanding their own scientific capabilities. The African Union Space Agency, launched in recent years, coordinates satellite programs and space research across the continent. Caribbean nations are investing in climate resilience research essential to their survival. Yet many of these institutions lack the infrastructure, funding, and international partnerships that even modestly-resourced American HBCUs can access.

An HBCU Exploration Institute operating polar icebreakers, conducting deep-sea research, and launching satellite payloads wouldn’t just advance American science it would establish HBCUs as anchor institutions for Pan-African scientific collaboration. Imagine Howard University leading joint oceanographic research with the University of Ghana, or Spelman College coordinating atmospheric monitoring stations across the Caribbean. The reputational gains would be transformative. This matters for recruitment, fundraising, and influence. Prospective students choosing between HBCUs v. PWIs would see real HBCU ships, real HBCU expeditions, and real HBCU career pathways into exploration science. Donors and foundations seeking to support climate research and diversity initiatives simultaneously would find a natural home. And HBCU presidents would have new platforms for thought leadership on issues from climate power to space policy to scientific diplomacy.

Here’s an uncomfortable truth: this initiative will only succeed if HBCU alumni associations mobilize with the same intensity, pride, and financial commitment they bring to homecoming football games and basketball tournaments. Every fall, HBCU alumni pour millions into athletics for season tickets, tailgate sponsorships, facility upgrades, coaching staff salaries. Alumni associations organize elaborate events, coordinate donor campaigns, and celebrate athletic achievements with genuine institutional pride. The Battle of the Real HU generates more alumni engagement and media attention than most academic programs receive in a decade. That energy, that organizational capacity, that willingness to invest must now be redirected toward exploration science with the same fervor.

Imagine if Howard University’s alumni association launched a “Name a Research Station” campaign with the same production value as a homecoming concert. Picture Spelman graduates organizing Antarctic expedition watch parties with the same enthusiasm as NCAA tournament viewing events. Envision FAMU’s National Alumni Association creating an “Explorers Circle” giving society that receives the same social prestige as premium athletic booster clubs. This isn’t criticism of HBCU athletics culture it’s a call to expand that culture to encompass scientific exploration. The infrastructure already exists. Alumni associations know how to run capital campaigns, coordinate reunion giving, leverage social networks, and create moments of collective pride. These skills transfer directly to funding research vessels and field stations.

The proposed HBCU Exploration Institute requires $102 million over three years. That sounds daunting until you consider that HBCU athletic programs collectively generate hundreds of millions annually, most of it from student fees. A coordinated campaign across major HBCU alumni networks—Howard, Spelman, Morehouse, Hampton, Tuskegee, FAMU, North Carolina A&T, Southern, Jackson State, Prairie View A&M—could realistically raise $25-30 million in year one if alumni leadership treats this with athletic-level urgency. Some institutions have already demonstrated this model. When North Carolina A&T needed to upgrade its engineering facilities, alumni responded with major gifts because they understood engineering excellence as core to institutional identity. Spelman’s alumni have funded science facilities and research programs. But these efforts have remained institution-specific and episodic. What’s needed now is collective, sustained mobilization.

Alumni associations must take several concrete actions immediately. First, every major HBCU alumni organization should establish an Exploration Science Committee with the same organizational status as athletic support committees. These groups would coordinate giving campaigns, identify potential major donors from alumni ranks, and create visibility for exploration research. Second, alumni homecoming and reunion events must begin celebrating scientific exploration with the same pageantry as athletics. Feature returning researchers presenting expedition findings. Honor alumni working in climate science, oceanography, and aerospace with the same recognition as athletic hall of fame inductees. Create traditions around scientific achievement that become part of institutional identity.

Third, alumni networks must leverage their professional positions to open doors. HBCU graduates work throughout corporate America, foundation leadership, and government agencies. An organized alumni effort could secure corporate sponsorships, foundation meetings, and federal partnership discussions that individual institutions struggle to access. When Hampton alumni at NASA advocate for HBCU partnerships, or Spelman graduates at the Mellon Foundation champion exploration science grants, institutional barriers dissolve. Fourth, alumni giving must be restructured to prioritize exploration infrastructure. Many alumni give to scholarship funds or general operating budgets, which is valuable but doesn’t build transformative capacity. Alumni associations should create specific endowments for vessel operations, expedition funding, and fellowship programs—tangible assets that generate sustained visibility and research output.

The cultural shift required is significant but not unprecedented. HBCU alumni already understand institutional pride, collective identity, and the power of coordinated action. They’ve built that culture around athletics because athletics has been positioned as central to HBCU identity and excellence. Exploration science must now be positioned the same way. This means changing the narrative from “HBCUs need better STEM programs” to “HBCUs will lead humanity’s next era of discovery.” It means alumni bragging about their school’s Antarctic expedition with the same pride they show for conference championships. It means young alumni seeing paths to exploration careers at their alma maters, not just at mainstream institutions.

The financial model becomes achievable when viewed through this lens. If each of the top 20 HBCU alumni associations committed to raising just $5 million over three years for exploration science—less than many spend on athletic facility upgrades—the startup capital is secured. Add foundation grants and federal partnerships, and the budget is covered. But more than money, alumni provide legitimacy, momentum, and accountability. When alumni demand progress on exploration science initiatives with the same intensity they demand winning seasons, institutional leadership responds. When alumni celebrate research expeditions with the same enthusiasm as rivalry games, prospective students take notice. When alumni networks coordinate giving and advocacy, transformation becomes possible.

The HEI business plan proposes a $102 million startup budget over three years to acquire vessels, establish field stations, fund expeditions, and build fellowship programs. That’s substantial, but it’s also achievable given current philanthropic interest in both climate research and HBCU development. The Bezos Earth Fund has committed billions to climate research. The Mellon Foundation has prioritized HBCU infrastructure investment. NASA and NOAA, despite federal constraints, actively seek diverse institutional partnerships. A well-organized HBCU consortium could secure multi-year commitments from these sources, particularly by framing the initiative as addressing federal research gaps.

The immediate focus should be marine research, where the vessel shortage is acute. Acquiring or leasing even one ocean-capable research ship—potentially a refitted commercial vessel—would allow HBCUs to begin Antarctic and Arctic research within two years rather than waiting for federal capacity to rebuild. Partnering with international research programs could offset operational costs while building the diplomatic relationships that strengthen HBCU global standing. Field stations in strategic locations like the Gulf Coast, Alaska, Ghana, the U.S. Virgin Islands would serve multiple functions: research platforms, student training sites, and hubs for international collaboration. These don’t require massive funding; even modest facilities become transformative when they provide HBCU students access to environments and equipment unavailable on their home campuses.

The fellowship and expedition programs are equally critical. Summer research academies focusing on polar, marine, and aerospace exploration would create immediate visibility and impact. Graduate fellowships with guaranteed expedition participation would attract top-tier students who might otherwise choose mainstream programs. Faculty sabbaticals at international field sites would bring research capacity and publications that elevate institutional rankings.

Predictable objections will emerge: HBCUs lack the expertise, the infrastructure, the established research networks. But these arguments mistake historical exclusion for inherent incapacity. HBCUs have produced astronauts, oceanographers, and polar scientists they’ve simply done so while their parent institutions received minimal support for exploration science infrastructure. Moreover, the proposed model explicitly builds on existing strengths. Many HBCUs have robust Earth science, environmental science, and physics programs that lack only field research opportunities. The institute wouldn’t create scientific capacity from nothing; it would provide the ships, stations, and funding to activate capacity that already exists but remains underutilized. The real risk isn’t that HBCUs might fail at exploration science it’s that by not trying, they’ll watch other institutions and nations claim leadership in domains that will define 21st-century research prestige and funding.

Federal withdrawal from Antarctic research won’t reverse quickly. Budget constraints, political dysfunction, and competing priorities mean the vessel gap could persist for a decade or more. That timeline perfectly matches the HEI five-year development plan, which envisions operational vessels and field stations by year three and landmark research publications by year four. HBCUs face a choice. They can wait for federal capacity to rebuild, competing for scarce berths on research vessels if and when they return to service. Or they can recognize this moment as the opportunity it is: a chance to build independent exploration infrastructure, establish diaspora research leadership, and fundamentally shift the narrative about who belongs in humanity’s most ambitious scientific endeavors.

But this choice isn’t just for presidents and administrators it’s for the millions of HBCU alumni whose collective power remains largely untapped for scientific advancement. The same alumni networks that fill stadiums, fund athletic scholarships, and travel across the country for homecoming games must now channel that organizational capacity toward building research fleets and exploration programs. The motto proposed for the HBCU Exploration Institute is “To Discover, To Lead, To Belong.” That sequence matters. Discovery creates the intellectual foundation. Leadership transforms institutions and influences policy. But belonging establishing permanent presence in exploration science requires infrastructure, commitment, and the willingness to act when opportunities emerge.

America’s retreat from Antarctica isn’t just a setback for researchers like Alison Murray. It’s an invitation for institutions that have been systematically excluded from exploration science to step forward and claim the leadership role they’ve always been capable of holding. The question is whether HBCU leaders and, crucially, whether HBCU alumni will recognize this moment and seize it before it passes. The energy, pride, and resources are already there mobilized. Now they must be redirected toward putting HBCU names on research vessels sailing to Antarctica, field stations conducting climate research, and satellite payloads orbiting Earth. That’s a legacy worth more than any championship trophy.

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. 

 

HBCU Money’s 2024 Top 10 HBCU Endowments

Note: These data are based on colleges, universities, affiliated foundations, and related nonprofit organizations that volunteered to participate in NACUBO’s endowment study series.” – NACUBO

Howard University has finally done it. They have become the first HBCU to cross the $1 billion endowment mark. An indelible mark that is now the benchmark for potential to survive the coming admissions cliff that U.S. colleges and universities will face as demographics have acutely shifted from the number of students going to college and the number of colleges who will be able to withstand a downturn. HBCUs (like many smaller colleges and universities) are disproportionately reliant on tuition revenues and government funding to keep the doors open and lights on. The factors are a myriad from low African American wealth to limited investment models for their endowments. The latter being something of a chicken and egg situation whereby when you have less you are more conservative with your investment strategy, but this also leads to minimal returns. Without heavy alumni giving to ensure consistent endowment capital it is hard for HBCUs to take more investment risk.

The PWI-HBCU NACUBO Top 10 Endowment Gap for 2024 stands at $129.2 to $1, which is an increase from 2023’s $128.7 to $1.*

HIGHLIGHTS:

  • Top 10 HBCU Endowment Total – $2.6 billion*
  • Top 10 PWI Endowment Total – $336.0 billion
  • Number of PWIs Above $2 billion – 78
  • Number of PWIs Above $1 billion – 148
  • Number of HBCUs Above $1 billion – 1
  • Number of HBCUs Above $100 million – 8
  • 669 colleges, universities, and education-related foundations completed NACUBO’s FY24 survey and those institutions hold $884.3 billion of endowment assets with an average endowment of $1.3 billion and median endowment of $244.4 million.
  • HBCUs comprised 1.5 percent of NACUBO’s reporting institutions and 0.3 percent of the reporting endowment assets.
  • PWI endowments (30) with endowments over $5 billion hold 58.5 percent of the $884.3 billion in endowment assets.

All values are in millions ($000)**

Previous year in parentheses for Endowment Value Per Full-Time Student

1. Howard University – $1,032,496 (11.4%)

Endowment Value Per Full-Time Student – $76,960 ($81,341)

2. Spelman College – $506,709 (6.7%)

Endowment Value Per Full-Time Student – $199,727 ($197,713)

3. Morehouse College – $263,080 (3.5%)

Endowment Value Per Full-Time Student – $104,521 (N/A)

4. North Carolina A&T State University  – $201,942 (22.6%)

Endowment Value Per Full-Time Student – $15,519 (N/A)

5.  Meharry Medical College – $193,938 (8.2%)

Endowment Value Per Full-Time Student – $178,909 ($165,394)

6. Florida A&M University – $124,141 (9.5%)

Endowment Value Per Full-Time Student – $13,393 ($6,044)

7. Virginia State University – $96,544 (-4.4%)

Endowment Value Per Full-Time Student – $19,555 ($22,903)

8. Norfolk State University – $96,403 (15.4%)

Endowment Value Per Full-Time Student – $15,947 ($16,149)

9. Fayetteville State University – $34,915 (11.6%)

Endowment Value Per Full-Time Student – $5,931 ($5,479)

10. American Baptist College – $1,237 (22.8%)

Endowment Value Per Full-Time Student – $29,463 (N/A)

*Due to Hampton University, Morgan State University, Tuskegee University, and Kentucky State University not participating this year significantly altered the Top 10 HBCUs endowment combined total. We estimate with these HBCUs included the Top 10 HBCU endowments probably are near $2.9 billion.

**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 FY23 to FY24 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.

2023’s HBCU Million Dollar Gifts: No African American Million Dollar Gifts To HBCUs

“Philanthropy is an exercise in power, by definition by the wealthy.” – Rob Reich

After an abysmal 2022, the HBCU Million Dollar Gifts list in 2023 bounced back? Well, sort of. In 2022 there were only three donations and now in 2023 there are five. Mathematically one would argue for that being a 66 percent increase, but then one realizes there were twice as many $100 million donations given or pledged to PWIs as there were $1 million donations given or pledged to HBCUs it throws water colder than the artic onto the conversation. Furthermore, one of those donations was pledged in 2023 by one Sean Combs who is now arguably in so much legal trouble that the pledge will likely never turn into a gift for its recipient, Jackson State University. To make the donation by Mr. Combs even more frustrating, it was the only one among the list by an African American further reinforcing that African American donors who can give million dollar donations are still not interested in supporting HBCUs with any fever.

The donations that did arrive went to the usual suspects of Howard (2), Spelman, and Tuskegee. Unless Spelman has a massive donation up its sleeve (and it is certainly possible), then Howard is going to coast to becoming the first HBCU to have a $1 billion endowment. To put in perspective how large the acute the donor crisis is between PWI and HBCU donors requires just taking a look at the largest 2023 donation by a donor. James Simons and Marilyn Simons gave a gift of $500 million to SUNY Stony Brook. A donation equal to over 50 percent of the Howard University’s endowment and over 90 percent of Spelman College’s endowment. Meanwhile, African America’s wealthy are virtually silent year after year.

There continues to be a massive disconnect of African America pouring resources into its own institutions. This is as true of the lack of African American donors to HBCUs as the embarrassment that virtually no HBCUs bank with an African American owned bank or even two premier HBCUs in Hampton University and North Carolina A&T University leaving an HBCU conference for a PWI one. The island mentality of everyone and every institution looking out for themselves while claiming they are for the community has reached a nauseating level year after year and should make anyone wonder if there is any reason to have hope. None of this fairs well for smaller HBCUs with the looming enrollment cliff crisis facing all American colleges and universities and for which HBCUs will certainly bear the brunt as with almost every crisis that America has.

Overall donations to all colleges and universities were down a second straight year in 2023 dropping from 275 to 259 Million Dollar Gifts.

$1 Million Plus Donations To All Colleges: 259

$100 Million Plus Donations To All Colleges: 10

$1 Million Plus Donations Value To All Colleges: $6.1 Billion

$1 Million Plus Median Donation To All Colleges: $10.0 Million

$1 Million Plus Average Donation To All Colleges: $23.6 Million

$1 Million Plus Donations To HBCUs: 5

$100 Million Plus Donations To HBCUs: 0

$1 Million Plus Donations Value To HBCUs: $45.6 Million

$1 Million Plus Median Donation To HBCUs: $10.0 Million

$1 Million Plus Average Donation To HBCUs: $9.3 Million

HBCU Percentage of Donations To All Colleges: 1.9%

HBCU Percentage of Donation Value To All Colleges: 0.8%

1. Carrie Walton Penner and Gregory Penner (pictured) – $20.0 million
Recipient: Howard University
Source of Wealth: Professional Sports, Family Wealth, Finance

2. MacKenzie Scott (pictured) – $12.0 million
Recipient: Howard University
Source of Wealth: Technology, Retail

3. John Brown and Rosemary Brown (pictured) – $10.0 million
Recipient: Spelman College
Source of Wealth: Health Products

4.Stephen Feinberg – $3.6 million
Recipient: Tuskegee University
Source of Wealth: Finance

5.Sean Combs – $1.0 million (Pledge)
Recipient: Jackson State University
Source of Wealth: Entertainment

Source: Chronicle of Philanthropy

HBCU Money’s 2023 Top 10 HBCU Endowments

Note: These data are based on colleges, universities, affiliated foundations, and related nonprofit organizations that volunteered to participate in NACUBO’s endowment study series.” – NACUBO

With a looming enrollment crisis for all America’s colleges and universities, we are at a time where endowments are not only going to matter more they are going to matter the most. The building of endowments, cutting of some overweight athletic expenses that allow you to invest more, aggressive fundraising efforts, joint investing with other HBCUs, everything should be on the table. This is an arms race for survival. We have been at alert level red for awhile but apparently the sound of the siren has been broken. Now it is fixed and it is blaring. HBCU endowments are a key and integral component to African American wealth building both individually and institutionally. Their importance to African America’s economic survivability, sustainability, and empowerment cannot be overstated enough. That HBCU endowments continue to be that is a matter of conversation about who at HBCUs should be benefitting and prioritized most by our endowments.

HBCU endowment analysis from 2023 will not reflect that Spelman College kicked off 2024 with HBCUs largest ever donation and the first ever nine figure donation with its $100 million donation from Ronda Stryker and William Johnston. We will see how much of the $100 million makes it into Spelman’s actual endowment coffers this time next year, but even without it Spelman leads all HBCUs in NACUBO’s new category of endowment value per full-time equivalent (FTE) student with $197,713 per Spelmanite versus Florida A&M University’s worrisome $6,044 endowment value per full-time equivalent student. This arguably is a more accurate of how healthy a college or university’s endowment is performing to some degree which we covered in ‘Without Hyperactive Alumni, HBCUs Will Bear The Brunt Of The Building Tsunami Of College Closures And The End Of Their Blackness’. Only Spelman College and Meharry Medical College have endowment value per FTE above $100,000. The national average is $174,499 among all college and universities and median is $47,287. HBCUs reporting have an average of $63,861 and median of $19,256.

On the good news from 2023 is Morgan State University and Virginia State University breaking into the $100 million endowment club as only the ninth and tenth HBCUs to do so. It is assumed that Tuskegee University (not reported) based on their FY 2018 Fact Book also has an endowment above $100 million. This means that roughly 10 percent of the remaining HBCUs have endowments above $100 million. Unfortunately, the gap between that group and those below is staggering with there being questions of a larger percentage of HBCUs potentially having no endowment as a possibility. Lastly, unless Spelman comes through with another jaw-dropping donation (it is certainly possible), then at some point in 2024 Howard University’s endowment will cross the $1 billion mark making it the first HBCU to do so.

The PWI-HBCU NACUBO Top 10 Endowment Gap for 2023 stands at $128.7 to $1, which is an increase from 2022’s $127.5 to $1.*

HIGHLIGHTS:

  • Top 10 HBCU Endowment Total – $2.2 billion
  • Top 10 PWI Endowment Total – $321.6 billion
  • Number of PWIs Above $2 billion – 74
  • Number of PWIs Above $1 billion – 139
  • Number of HBCUs Above $1 billion – 0
  • Number of HBCUs Above $100 million – 9
  • 688 colleges, universities, and education-related foundations completed NACUBO’s FY23 survey and those institutions hold $839 billion of endowment assets with an average endowment of $1.2 billion and median endowment of $209.1 million.
  • HBCUs comprised 1.4 percent of NACUBO’s reporting institutions and 0.3 percent of the reporting endowment assets.
  • PWI endowments (30) with endowments over $5 billion hold 58 percent of the $839 billion in endowment assets.

All values are in millions ($000)**

1. Howard University – $926,633 (7.4%)

Endowment Value Per Full-Time Student – $81,341

2. Spelman College – $474,907 (3.4%)

Endowment Value Per Full-Time Student – $197,713

3.  Meharry Medical College – $179,287 (6.0%)

Endowment Value Per Full-Time Student – $165,394

4. North Carolina A&T State University  – $164,720 (0.1%)

Endowment Value Per Full-Time Student – N/A

5. Florida A&M University – $113,378 (1.7%)

Endowment Value Per Full-Time Student – $6,044

6. Morgan State University – $101,037 (12.9%)

Endowment Value Per Full-Time Student – N/A

7. Virginia State University – $100,935 (45.1%)

Endowment Value Per Full-Time Student – $22,903

8. Norfolk State University – $83,525 (17.4%)

Endowment Value Per Full-Time Student – $16,149

9. Fayetteville State University – $31,280 (-2.2%)

Endowment Value Per Full-Time Student – $5,479

10. Kentucky State University – $20,238 (6.3%)

Endowment Value Per Full-Time Student – $15,861

*Due to Hampton University and Morehouse College not participating this year significantly altered the Top 10 HBCUs endowment combined total. Therefore, HBCU Money took the editorial liberty of calculating the PWI-HBCU endowment gap based on 2022’s HBCU endowment total of $2.5 billion.

**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 FY21 to FY22 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.