HBCU Alumni Giving Rates
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Non-alumnus Gifts $600K in Property to ASU
05/23/2023
Dr. Roosevelt McCorvey, an obstetrician-gynecologist in Montgomery, wanted to draw upon Alabama State University’s historic strengths by helping to prepare ASU students for the challenges and opportunities they will encounter.
McCorvey, a non-alumnus, gifted Alabama State University with property worth $600,000. The gift closely mirrors alumni giving.
“I call myself a friend of the University because I graduated from another HBCU in Alabama. I practice in Montgomery and the population here is responsible for whatever I got. I wanted to give back to that community. So, we offered the property to ASU and they accepted it,” he said. “I could have tried to extract as many dollars out of the building that I could but…. I thought I could come to close proximity to regeneration by donating it to an institution. I wanted it to be used beyond my use.”
McCorvery hopes the tripod building consisting of three suites, located on the city’s west side, will be used as a human science facility.
“But, if Alabama State can convert it to use that is favorable to them, I’m okay with that,” he said.
The Florida native’s connection to ASU is tied to his best friend.
“My late frat brother and best friend, Richard Quinton Thomas, a staunch ASU graduate, was the most influential in my decision. He helped me build the building,” he said.
Other ASU ties, he noted, include his wife and other ASU graduates.
“Both my wife’s parents graduated from ASU. I have several good friends who are ASU graduates. President Quinton T. Ross and I attended the same church for many years and a lot of ASU faculty attend church (Hutchinson Missionary Baptist Church) with me. And my friend Dr. John Henry Winston’s son, Dr. John H. Winston, III, married one of my daughters, Dr. Barbara Michele McCorvey; both are Alabama State graduates,” he added. “I was connected to a lot of people in the community from Alabama State after being there for 40-plus years.”
McCorvey recalls a fond memory of ASU. “When I was a very young fellow my parents brought me to a Turkey Day football game when ASU played Tuskegee. That was a great day. I’ve been back to the ASU campus several times, off and on, since that day.”
McCorvey said he could have become a Hornet, but at the time, the Pensacola, Florida native said Tuskegee offered medical programs. “I wanted to be a doctor, that’s why I went to Tuskegee.”
Audrey Parks, ASU’s director of Development, said the University is most grateful for McCorvey’s philanthropic generosity.
“Through Dr.. McCorvey’s gift, his legacy of generosity will live on at ASU,” Parks said.
Parks noted that private gifts of this nature from alumni and friends of the University improve the quality of an ASU education and are used to recruit and retain outstanding faculty and students and provide funding for instruction and research
Burden your students with debt through ridiculous tuition fees and then expect them to donate more money to you after they graduate university deansI was flipping through one of those US News College guides, recently. There was a section on HBCUs. The alumni giving rates are atrocious at HBCUs.
Spelman College (39%)
Howard University (8%)
Hampton University (15%)
Morehouse College (13%)
Tuskegee University (18%)
FAMU (5%)
North Carolina A&T (8%)
Bethune Cookman (9%)
Morgan State (11%)
Most of the other schools were listed as (N/A), which suggests giving rates were so low, the schools didn't even want to self report.
In another thread, nikkas wanted to know what happened to Morris Brown.
Look at what the "elite" HBCUs are facing in terms of funding.
@CashmereEsquire @NeilCartwright
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Morris Brown College Celebrated in Savannah - The Savannah Tribune
Morris Brown College (MBC) President, Dr. Kevin James, was the featured guest at a Victory Celebration Reception in Savannah on May 26, 2023. The event was held at Carver State Bank’s Skidaway Road Branch. The tone for the uplifting evening was set by AME Savannah Central District Presiding...
www.savannahtribune.com
Come to think of it, they should setup an alumni donation booth at Homecoming, take pictures and setup a screen that displays the pictures of anyone who donates more than a certain amount. Say $25-$50. Make the donations easy with something like CashApp or Zelle. It allows the alumni to get the clout they want and gets the school money.
Hell, if you donate $250 or more, they could display your picture on the screen during the homecoming game.
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Student Freedom Initiative Partners With New Investment Fund to Raise the Capital of HBCUs
The historic fund launches a $10.35M growth fund for participating HBCUs
The historic fund launches a $10.35M growth fund for participating HBCUs
June 06, 2023
WASHINGTON--(BUSINESS WIRE)--The Historic Fund, a recently endowed educational venture capital fund, launched a $10.35 million investment rubric to support the growth of the endowments of Historically Black Colleges and Universities (HBCUs). Mark Brown, executive director of the Student Freedom Initiative, stated: “We are grateful for our collaboration with the Historic Fund because our mission is to close the wealth gap in America through the lens of education. The endowments of HBCUs are significantly lower than that of other universities that may not have faced similar historical biases.
The Historic Fund is a unique philanthropic initiative that invites selected HBCUs to be limited partners without investing their own assets. Instead, the fund has initially raised capital from partners of nine participating venture capitalist funds: Acrew Capital, B Capital, Cowboy Ventures, First Round Capital, FirstMark Capital, Foundry, General Catalyst, Spark Capital and Union Square Ventures. Each participating funder raised the capital to invest in this unique initiative, and each participating HBCU will receive roughly $1.35 million.
The fund's goal is to foster stronger, more diverse relationships at the collegiate level by partnering with HBCUs. The Student Freedom Initiative will cultivate those relationships and provide individual school-level support. The Student Freedom Initiative has policy expertise, programming, grant writing and data to implement initiatives, like the Historic Fund, for economic growth and long-term social justice impact.
The Historic Fund will support a variety of under-represented fund managers through its stake in First Close Partners, a venture fund with the mission of making venture capital more inclusive through investments led by underrepresented managers. The participating HBCUs will function as traditional limited partners in a venture capital fund and will be free to use the returns as they wish. This experience also exposes students–and the schools–to the world and business of venture capital. Students will gain an understanding of what it takes to be an investor, a career path that traditionally lacks people of color.
The inaugural cohort of HBCUs includes
- Benedict College
- Bennett College
- Fisk University
- Florida A&M University
- Hampton University
- Morehouse College
- Tougaloo College
- Virginia State University
- Virginia Union University
- Xavier University of Louisiana.
These colleges were chosen because of their track record of producing talent and their commitment to students beyond graduation
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Diddy makes good on his financial pledge to Jackson State football in honor of Deion Sanders
Jackson State athletics will receive first installment of $1 million pledge from hip-hop mogul Diddy on June 23, the school has revealed
www.clarionledger.com
Diddy makes good on his financial pledge to Jackson State football in honor of Deion Sanders
June 16, 2023The Deion Sanders Effect is still being felt at Jackson State even after he departed as football coach. Sanders became the coach at Colorado in December 2022, but his celebrity friend, Sean "Diddy" Combs, has made good on his promise to give $1 million to Jackson State.
On June 26, 2022, Combs pledged $1 million to Howard University, the HBCU in Washington, D.C., that he attended. The pledge was made during the Lifetime Achievement Award at the BET Awards. After leaving Howard, Combs became an intern at Uptown Records before going on to huge success as a platinum-selling hip-hop artist and record executive.
"Before I leave, I want to donate $1 million dollars to Howard University," Combs said during his speech. "Also, I'm going to drop another million dollars on Deion Sanders and Jackson State because we should play for us."
Dr. Elayne Hayes-Anthony, interim president at Jackson State University, revealed the donation as she was speaking at the monthly IHL board of trustees meeting Tuesday, which was posted on Twitter.
"P Diddy, as our students call him, and as we probably know him as Sean Combs, has released $1 million dollars to Jackson State for athletics," Hayes-Anthony said. "And we are very, very pleased about that. We will be receiving $332,000 by June 23 as a first installment and we get another installment in 2024 and another in 2025
During Sanders' tenure at Jackson State, Combs was not the only celebrity to announce a donation to JSU. Rapper Ja Rule, in July 2022, pledged part of the proceeds of his 1,000 1-of-1 NFTs to support HBCUs: Hampton, Morgan, Spelman, Morehouse and Jackson State. It is unclear if the donation was earmarked for the athletic department or the general fund. And there is no word on when Ja Rule will send his pledge to JSU.
Former NBA star Charles Barkley announced in December that he would donate $1 million each to Jackson State and another HBCU, Bethune-Cookman.
Barkley pledge is scheduled to be received by JSU in July.
It is unclear if those donations have been made
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*They really named the organzation after Nas' song.
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Megan Thee Stallion teams up with Flamin' Hot for TSU scholarship and on-campus events
Sept 20, 2023Megan Thee Stallion, rap superstar and Texas Southern University graduate, is going back to school. Flamin' Hot University, to be exact.
The Houston native has teamed up with the Flamin' Hot brand of snacks for virtual courses on food, fashion and lifestyle. They include Flamin' Hot-infused recipes and motivational tips.
The collaboration also includes a line of six Megan-inspired items from streetwear designer Melody Ehsani, including a Stallion varsity jacket ($200), tennis skirt ($62) and more.
Proceeds from the collection will go toward establishing a $150,000 scholarship fund to help graduating TSU students with loan debt. Flamin' Hot will also make a $100,00 contribution to the Pete and Thomas Foundation. Megan launched the nonprofit last year with a focus on three core areas in Houston and beyond: education, through scholarships, school supplies and resources to students in high-need communities; housing for senior citizens, single mothers and families impacted by financial emergencies and natural disasters; health and wellness through cancer care, mental health and food insecurity.
Flamin' Hot will also be on the TSU campus through homecoming season with giveaways, snacks and information on alleviating student debt.
"I'm extremely proud that we were able to uplift TSU students, establish an impactful scholarship fund, support the Pete and Thomas Foundation and promote the importance of education," Megan said in a statement.
Flamin' Hot has also released a limited pair of Megan-branded Cheetos and Doritos, available online for $5.99 a bag.
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I donate to my PWI… 
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Church awards scholarships to HBCU students
WSMV 4 Nashville
Nov 14, 2023
A Nashville church is being praised for its generosity after awarding more than half a million dollars to local students
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N.C. A&T’s Music Program Receives $100K Gift from Tom Joyner Foundation
Jan 5, 2023 EAST GREENSBORO, N.C. (Jan. 5, 2024) – North Carolina Agricultural and Technical State University’s music program is hitting all the right notes as it recently received a $100,000 gift from the Tom Joyner Foundation, with a special contribution from legendary singer-songwriter and musician Stevie Wonder.
“It is an honor to receive such a generous gift from the Tom Joyner Foundation,” said John P. Henry, Ph.D., interim chair of the Department of Visual and Performing Arts and music program director. “The funds will be dedicated to scholarships exclusively benefiting students in our music program and ensembles.”
N.C
“The receipt of this award presents an opportunity for our music program to draw in and retain students,” said Alexander, the University Choir Director and a music program lecturer. “Those enrolled undergo rigorous training and play a crucial role in our department. This donation provides a competitive academic incentive for our college.”
The scholarships resulting from the gift will be named the Tom Joyner Foundation/Stevie Wonder Music Program Scholarships. Wonder contributed the earnings from his recent performance on The Tom Joyner Foundation’s Fantastic Voyage, Party with a Purpose, cruise.