Shaky Ground: Seeking Support for Historically Black Colleges and Universities
http://www.aframnews.com/html/interspire/articles/292/1/Shaky-Ground-Seeking-Support-for-Historically-Black-Colleges-and-Universities/Page1.html
Calvin Evans
Calvin Evans is a Hip-Hop Historian, Journalist and Author. Evans has written for the Dallas Post Tribune, and several websites such as http://bronxriverparkway.com, http://superrhymes.com, and http://joe538.com. Evans also publishes his own blog http://themicrophonefiles.blogspot.com By Calvin Evans
Published on 04/10/2009
On October 21, 2006, Oprah Winfrey was the center of attention at a fundraiser for a historically black college for women. Winfrey headlined a benefit gala for Bennett College in support of the “Revitalizing Bennett Campaign,” which sought to raise $50 million for the college. Winfrey utilized the opportunity to encourage about 300 guests to support education and give back to their community.
"You can't continue to move forward unless you give back what you are given," Winfrey said during a rare public speaking appearance. "It is our calling."
Winfrey’s message resonates loudest in light of the current financial crisis that is threatening many of our Historically Black Colleges and Universities (HBCUs). In addition to Bennett College, Benedict, Morris Brown, Fisk, and LeMoyne-Owens are just some of the many Black colleges experiencing financial hardships.
The explanation of the financial woes of HBCUs must come from a wide range of reasons. HBCUs are grossly under funded by the Federal Government, receiving significantly less funding than other institutions of higher education. For example, in 2002 federal agencies spent $41.6 billion overall for institutions of higher education, while only $1.7 billion was spent for HBCUs, an alarming 4 percent. Black colleges are also faced with the handicap of inadequate endowments. According to a survey by the National Association of College and University Business Officers, the best endowed historically black institution, Howard University in Washington, ranks 132nd in the nation with $371 million. In addition, the combined endowment for all 105 black colleges in this country is only $1.6 billion. By comparison, the endowment of Harvard University is $19 billion.
There are several other reasons why many HBCUs are in financial disarray: poor financial management, rising tuition costs, decline in student enrollment, top heavy salary expenditures, the allocation of funds for buildings instead of students, and the failure of alumni and the greater black community to donate significantly.
According to a study from the University of Georgia, it is estimated that Blacks have a combined spending power of $847 Billion. The Black community certainly has enough financial resources to make a significant contribution to the overall financial welfare of the HBCUs.
The welfare of HBCUs is an important issue within the Black community. Over half of all professionals within the African-American community graduated from HBCUs. Of the ten colleges that graduate the most African American students who go on to earn PhDs, nine are HBCUs. In addition, 75 percent of African American Ph.D’s, 50 percent of African American engineers, 80 percent of African American Federal judges, and 85 percent of all African American doctors are products of the HBCU system.
With the threat of some HBCUs closing over the next few years, it is time that the African American community take a closer look at ways it can assist in preserving Black colleges; otherwise it may lose a significant portion of tomorrow’s leaders.
The financial status of Historically Black Colleges (HBCU's) and their importance to the Black community.
On October 21, 2006, Oprah Winfrey was the center of attention at a fundraiser for a historically black college for women. Winfrey headlined a benefit gala for Bennett College in support of the “Revitalizing Bennett Campaign,” which sought to raise $50 million for the college. Winfrey utilized the opportunity to encourage about 300 guests to support education and give back to their community.
"You can't continue to move forward unless you give back what you are given," Winfrey said during a rare public speaking appearance. "It is our calling."
Winfrey’s message resonates loudest in light of the current financial crisis that is threatening many of our Historically Black Colleges and Universities (HBCUs). In addition to Bennett College, Benedict, Morris Brown, Fisk, and LeMoyne-Owens are just some of the many Black colleges experiencing financial hardships.
The explanation of the financial woes of HBCUs must come from a wide range of reasons. HBCUs are grossly under funded by the Federal Government, receiving significantly less funding than other institutions of higher education. For example, in 2002 federal agencies spent $41.6 billion overall for institutions of higher education, while only $1.7 billion was spent for HBCUs, an alarming 4 percent. Black colleges are also faced with the handicap of inadequate endowments. According to a survey by the National Association of College and University Business Officers, the best endowed historically black institution, Howard University in Washington, ranks 132nd in the nation with $371 million. In addition, the combined endowment for all 105 black colleges in this country is only $1.6 billion. By comparison, the endowment of Harvard University is $19 billion.
There are several other reasons why many HBCUs are in financial disarray: poor financial management, rising tuition costs, decline in student enrollment, top heavy salary expenditures, the allocation of funds for buildings instead of students, and the failure of alumni and the greater black community to donate significantly.
According to a study from the University of Georgia, it is estimated that Blacks have a combined spending power of $847 Billion. The Black community certainly has enough financial resources to make a significant contribution to the overall financial welfare of the HBCUs.
The welfare of HBCUs is an important issue within the Black community. Over half of all professionals within the African-American community graduated from HBCUs. Of the ten colleges that graduate the most African American students who go on to earn PhDs, nine are HBCUs. In addition, 75 percent of African American Ph.D’s, 50 percent of African American engineers, 80 percent of African American Federal judges, and 85 percent of all African American doctors are products of the HBCU system.
With the threat of some HBCUs closing over the next few years, it is time that the African American community take a closer look at ways it can assist in preserving Black colleges; otherwise it may lose a significant portion of tomorrow’s leaders.