Helping Out Our HBCUs: 6 Benefactors Of Historically Black Colleges & Universities
Our beloved Historically Black Colleges and Universities (HBCU) in America aren’t doing so hot financially. The demise of St. Paul’s College in 2013, a 125-year-old HBCU institution, served as a wake up call for the future of other Black academies. Who’s next? Well, according to Inside Philanthropy, Cheyney University — the oldest HBCU in the nation — is on the chopping block.
Many HBCUs are going through a financial hurricane: falling enrollment numbers, cuts in higher education funding, and a dearth of wealthy donor bases.
In 2013, Howard, Spelman, Hampton, Meharry Medical College, and Florida A&M all had a combined endowment of $1.3 billion. That may seem sufficient, but compare this number to the big guys, such as Harvard. The Ivy League collects an endowment of $30 billion.
In efforts to prevent an HBCU from becoming another St. Paul’s College, donors around the country have given scholarship packages to keep our Black academies afloat. Who are they? Here are some recent benefactors of our beloved HBCUs.