“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 