Historically Black colleges and universities (HBCUs) have long served as a critical learning path for Black students seeking quality higher education in the United States. Yet, while HBCUs have persisted as sources of educational innovation and inspiration, they face challenges in accumulating substantial endowments, a crucial factor for institutional stability and growth. Ivy League institutions and many public universities boast endowments in the tens of billions of dollars, yet no HBCU has an endowment exceeding $1 billion — and the majority manage less than $100 million in assets.Â
To better understand the challenges of HBCUs attempting to grow and manage their endowments, PGIM and United Negro College Fund (UNCF) partnered together to obtain the perspectives of 22 private HBCU endowment professionals through a comprehensive online survey, representing nearly one-third of all private HBCUs. Additionally, HBCU endowment professionals participated in a focus group, providing deeper insights into their experiences and the ways in which they use their resources to uplift students and their communities.