Greater Support is Needed for HBCU Endowments

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“As we continue to pursue our mission, the question of endowment management and growth has become central to our approach to institutional engagement and improvement. For decades, HBCUs (historically Black colleges and universities) have had to do more with less, operating without supports and resources that were readily made available to their counterparts. While HBCUs have persisted in serving as sources of educational innovation and inspiration, their consistent underfunding has left too many without the resources needed to pursue their true potential to uplift students and communities.”

Michael L. Lomax, PhD, president and CEO of the UNCF (United Negro College Fund), regarding the needs for endowment funding for HBCUs throughout the country. To address this chronic issue, the UNCF recently launched its $1 billion capital campaign, a pooled endowment fund to support member HBCUs through private donations and fundraising efforts. In January, the organization received a $100 million grant from the Lilly Endowment Inc. in support of the campaign, and partnered with PGIM,

the global assessment management business of Prudential Financial Inc., to release a report regarding the endowment funding needs of HBCUs.