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It Was Nice While It Lasted: 2021 Million Dollar HBCU Donations Drop By 73 Percent

Posted on January 7, 2023 by hbcumoney | Leave a comment

The results of philanthropy are beyond calculation, but they are calculated. – William A. Foster, IV

After 2020 gave us unprecedented major giving to HBCUs, the fairy dust wore off just as quickly come 2021. Had this year been not followed by 2020, then arguably it would be a good year by normal standards. Instead, it is a harsh reminder that HBCUs rarely on any level receive an equitable share of funding both by state and federal governments and private giving to colleges and universities. 2020’s giving it could be argued was a response to the protests and social unrest that spilled over from the death of George Floyd. However, as we stated previously that is neither sustainable and questionably moral. This year’s list while significantly smaller looks much the same as last year in that it is buoyance is upheld by donors outside of the African American community.

HBCUs were able to pull in three percent of the million plus donations to all colleges and universities, which constitutes their makeup in the overall landscape of the higher education system. However, the value of those donations amounted to less than one percent of the overall donation value to colleges and universities. A significant drop off from 2020’s astounding 15 percent of donation value. Very interested to note that PWIs saw donations of $100 million plus double from 2020 to 2021 going from seven to fourteen. No HBCU has ever seen a nine-figure donation and there are only a handful of African Americans capable of doing so. This once again leaves the fate of African American NPOs in the hands of other community’s wealth and generosity. It also begs the question for the survival of HBCUs in particular long-term. Despite 2020’s gifts, we would be remiss to act as if one year of donations can rectify over one hundred plus years of negligence and fiscal hostility.

MacKenzie Scott continued to be HBCUs’ best friend with two of the ten donations on the list coming from her philanthropy. Mr. and Mrs. Tyler’s donation is one of the largest alumni gifts (if not the largest) ever to an HBCU. Worthy of a conversation itself is that HBCUs are still not producing a pipeline of wealthy alumni. Something critical to increasing the probability of transformative donors into HBCU coffers. With only two known HBCU billionaires among all of its alumni, the question of “Can HBCUs Produce Billionaires?” remains not only a relevant question, but an absolutely necessary conversation that must be had between HBCU alumni and administrations.

$1 Million Plus Donations To All Colleges: 316

$100 Million Plus Donations To All Colleges: 14

$1 Million Plus Donations Value To All Colleges: $8.1 Billion

$1 Million Plus Median Donation To All Colleges: $11.1 Million

$1 Million Plus Average Donation To All Colleges: $25.5 Million

$1 Million Plus Donations To HBCUs: 10

$100 Million Plus Donations To HBCUs: 0

$1 Million Plus Donations Value To HBCUs: $66.7 Million

$1 Million Plus Median Donation To HBCUs: $4.0 Million

$1 Million Plus Average Donation To HBCUs: $6.7 Million

HBCU Percentage of Donations To All Colleges: 3.2%

HBCU Percentage of Donation Value To All Colleges: 0.8%

1. MacKenzie Scott – $20 million
Recipient: Charles R. Drew Medicine
Source of Wealth: Technology, Retail

2. Calvin E. Tyler and Tina Tyler (pictured bottom right) – $20 million
Recipient: Morgan State University
Source of Wealth: N/A

3. S. Donald Sussman – $6 million
Recipient: University of the Virgin Islands
Source of Wealth: Finance

4. Eddie Brown and Sylvia Brown (pictured bottom left) – $5 million
Recipient: Howard University
Source of Wealth: Investments

5. Anonymous Donor – $5 million
Recipient: Howard University
Source of Wealth: N/A

6. Shervin Pishevar and Sarah Pishevar Haynes – $3 million
Recipient: Howard University
Source of Wealth: Technology, Finance, Transportation

7. Frank Garrison and Amy Garrison – $2.5 million
Recipient: Fisk University
Source of Wealth: Finance, Real Estate, Law

8. Anonymous Donor – $2.2 million
Recipient: Alabama A&M University
Source of Wealth: N/A

9. MacKenzie Scott – $2 million
Recipient: Meharry Medical College
Source of Wealth: Technology, Retail

10. Mark Malveaux and Dawn Malveaux (pictured top) – $1 million
Recipient: Southern University System
Source of Wealth: Law

Source: Chronicle of Philanthropy

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Tagged alabama a&m university, calvin e. tyler, charles drew university, dawn malxveaux, eddie brown, fisk university, HBCUs, Howard University, mackenzie scott, mark malveaux, morgan state university, philanthropy, southern university, sylvia brown, tina tyler, university of the virgin islands

HBCU Money’s 2021 Top 10 HBCU Endowments

Posted on March 4, 2022 by hbcumoney | Leave a comment

If there was a short analysis of the 2021 HBCU endowment list it would be this – still not enough. Despite record breaking donations toward HBCUs from Mackenzie Scott and others in 2020-2021, the PWI-HBCU endowment gap among the Top 10 PWIs and HBCUs continues to balloon, a gap that stands at a staggering $121 to $1. This despite a 35 percent increase by the Top 10 HBCU endowments from last year. Simply put, winning the philanthropic “lottery” is not enough and it never will be when it comes to closing the endowment gap. The rabbit never beats the tortoise to put it another way. HBCUs must find a way to find consistent capital infusions over time as opposed to lighting quick one-offs.

The HBCU donor pool is simply too small and too poor (relatively speaking) to close the endowment gap. Without increasing the percentage of African Americans college students who go to HBCUs from 10 percent to 25-30 percent, it does not bode well for HBCUs to be able to close the endowment gap through traditional means. HBCUs and their alumni are going to have to be more creative and must be so expeditiously. While this is the most HBCU endowments we have ever reported with $100 million or greater, increasing from five in 2020 to seven in 2021, PWIs saw an 25 percent increase in the number of endowments over $2 billion going from 55 to 69 and an equally 25 percent rise in the number of endowments over $1 billion going from 114 to 142. This while HBCUs are still waiting for their first billion dollar endowment.

To that point, the race between Howard and Spelman is tightening. Last year’s $334 million lead that Howard held over Spelman has shrunk to $265 million. At one point it seemed a foregone conclusion that Howard would reach the milestone first (The Race To The First Billion Dollar HBCU Endowment: Can Anyone Catch Howard?), that is no longer the case. Howard’s public relations over the past year have not been favorable and while many people say all press is good press – not when you are an African American institution. With Hampton and North Carolina A&T’s departure from the MEAC, no HBCU conference (CIAA, GCAC, MEAC, SIAC, SWAC) is dominating the Top 10 and the list is split 50/50 between private and public HBCUs as well. Arguably this is the most diverse Top 10 HBCU endowment list since we first began publishing, but one thing remains feverishly consistent and that is there is a lot of work to be done to ensure HBCU endowments and therefore the institutions of HBCUs are sustainable and thriving.

HIGHLIGHTS:

Top 10 HBCU Endowment Total – $2.7 billion
Top 10 PWI Endowment Total – $328.7 billion
Number of PWIs Above $2 billion – 69
Number of PWIs Above $1 billion – 142
HBCU Median – $97.8 million (33.7%)
NACUBO Median – $200.4 million (25.8%)
HBCU Average – $203.8 million (53.6%)
NACUBO Average – $1.2 billion (35.2%)

All values are in millions ($000)*

1. Howard University – $795,203 (11.6%)

2. Spelman College – $530,399 (40.3%)

3. Hampton University – $379,992 (35.4%)

4. Morehouse College – $278,073 (77.0%)

5. Meharry Medical College – $186,943 (19.3%)

6. North Carolina A&T State University – $157,336 (113.2%)

7. Florida A&M University – $118,635 (24.4%)

8. Morgan State University – $97,783 (162.9%)

9. Tennessee State University – $91,120 (33.2%)

10. The University of the Virgin Islands – $82,863 (23.9%)

OTHERS REPORTING:

Norfolk State University – $79,865 (133.9%)
Johnson C. Smith University – $75,167 (14.2%)
Virginia State University – $75,062 (33.7%)
Winston-Salem State University – $74,562 (48.6%)
Fayetteville State University – $33,581 (33.1%)

*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 FY20 to FY21 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.

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Tagged ciaa, florida a&m university, gcac, hampton university, hbcu endowments, Howard University, meac, meharry medical college, morehouse college, morgan state university, north carolina a&t state university, siac, spelman college, swac, tennessee state university, university of the virgin islands, wealth gap

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

Posted on November 25, 2019 by hbcumoney | 2 comments

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.

Terron Armstead /UAPB / $15.8 million
Antoine Bethea / Howard / $3.625 million
Chester Rogers / Grambling State / $3.095 million
Joe Thomas / South Carolina State / $2.237 million
Tytus Howard (R) / Alabama State / $2.223 million
Javon Hargrave / South Carolina State / $2.198 million
Rodney Gunter / Delaware State / $1.75 million
Ryan Smith / North Carolina Central /$1.697 million
Darius Leonard / South Carolina State / $1.647 million
Isaiah Crowell / Alabama State / $1.25 million
Antonio Hamilton / South Carolina State / $1 million
Brandon Parker / North Carolina A&T / $930,758
Tarik Cohen / North Carolina A&T / $803,914
Grover Stewart / Albany State / $749.912
Tony McRae / North Carolina A&T / $645,000
KhaDarel Hodge / Prairie View A&M / $570,000 (Tied)
Trent Scott / Grambling State / $570,000 (Tied)
Darryl Johnson / North Carolina A&T / $519,522
Joshua Miles / Morgan State / $513,664
Trent Cannon / Virginia State / $511,096
Danny Johnson / Southern / $510,862
Jamie Gillan / UAPB / $498,333
Da’Lance Turner / Alcorn State / $268,235

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Tagged alabama state university, albany state university, alcorn state university, delaware state university, grambling state university, Howard University, meac, morgan state university, north carolina a&t state university, north carolina central university, prairie view a&m university, south carolina state university, swac, terron armstead, university of arkansas pine-bluff, virginia union university

HBCU Money™ Presents: The George W. Carver 2017’s Top 20 HBCU Research Institutions

Posted on October 26, 2019 by hbcumoney | Leave a comment

Dr. George Washington Carver (January 5, 1864-January 5, 1943) was an American scientist, botanist, educator, and inventor. Carver is best known for his research into alternative crops to cotton, such as peanuts, soybeans, and sweet potatoes. He wanted poor farmers to grow these alternative crops to aid in the nutrition of farm families and to provide another source of cash income to improve the farmers quality of life. Dr. Carver is shown at work at Tuskegee University in September 1938. Photo Courtesy National Archives and Records Administration. r

HBCUs continue to go backwards in the research field according to the latest National Science Foundation data. In 2015, research expenditures for the top 20 HBCUs combined for $425.7 million, while 2017 combines for $424.7 million. Over the past five years, HBCU research expenditures have dropped almost 4.7 percent or a loss of $20.7 million.

The top ranked HBCU, Howard University, ranked 203rd and the twentieth ranked HBCU, Virginia State University, ranked 325th among America’s college research landscape.
The MEAC maintains their dominance with eight schools versus the SWAC’s four.
Division II/III schools also comprise four schools on the list.
1890 HBCUs, land-grant universities, dominate the top twenty with eleven of the top HBCU research universities.
All HBCUs combined account for $537.8 million in research expenditures. There are 45 PWI/HWCUs who have research budgets above this amount individually.

Rank. HBCU. Previous Year In Parentheses.

Howard University – $45.8 million ($41.0 million)
Florida A&M University – $37.6 million ($45.4 million)
N.C. A&T State Univ. – $37.4 million ($33.8 million)
Morehouse School of Medicine – $36.9 million ($38.8 million)
Alabama A&M University – $31.7 million ($30.3 million)
Jackson State University – $22.8 million ($23.8 million)
Delaware State University – $20.8 million ($21.3 million)
Tennessee State University – $18.1 million ($19.5 million)
Meharry Medical College – $16.8 million ($14.8 million)
Tuskegee University – $16.5 million ($16.5 million)
Hampton University – $16.6 million ($14.2 million)
Alcorn State University – $16.1 million ($8.2 million)
Charles R. Drew University – $15.7 million ($13.4 million)
Morgan State University – $15.0 million ($15.7 million)
S.C. State University – $14.3 million ($13.1 million)
N.C. Central University – $14.1 million ($12.5 million)
Prairie View A&M University – $14.0 million ($12.6 million)
Xavier University of LA. – $12.4 million ($12.1 million)
Langston University – $11.5 million ($11.2 million)
Virginia State University – $10.8 million ($8.1 million)

TOP 20 COMBINED TOTAL: $424.7 million ($425.7 million)

Additional Notes:

The HWCU-HBCU gap for research among top 20 research institutions is $53:1

Top 20 HWCUs Combined: $22.7 billion ($23.2 billion)

Top 20 Average HWCU – $1.2 billion

Top 20 Average HBCU – $21.2 million

Top 20 Median HWCU – $1.1 billion

Top 20 Median HBCU – $16.5 million

Source: National Science Foundation

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Tagged 1890 hbcus, alabama a&m university, alcorn state university, charles drew university, delaware state university, florida a&m university, hampton university, hbcu research, Howard University, jackson state university, langston university, meharry medical college, morehouse school of medicine, morgan state university, north carolina a&t state university, north carolina central university, prairie view a&m university, south carolina state university, tennessee state university, tuskegee university, virginia state university, xavier university louisiana

Donate To Every School In The SWAC/MEAC Challenge

Posted on August 31, 2019 by hbcumoney | Leave a comment

How many HBCUs have you donated money too? Below are the jump pages for every SWAC/MEAC school and/or foundation’s giving page. We challenge HBCU alumni to give to their own and as many HBCUs as possible.

There are 21 HBCUs between the SWAC/MEAC. That means there are 21 opportunities to give that stretch from Texas to Maryland and impact the institutional opportunities of tens of thousands of African American students, their families, and our communities. How many will you impact?