Endowment Wealth: The Huge Disadvantage of the Black Collegesgreenspun.com : LUSENET : A.M.E. Today Discussion : One Thread
I am reading an article in the Summer, 2004 issue of The Journal of Blacks in Higher Education, entitled, "Endowment Wealth: The Huge Disadvantage of the Black Colleges." It is an interesting article. The article states that "Harvard University earns about $7.5 million on its endowment every day..." The article cites about 30 black colleges that have a total of "less than $1 million dollars in endowment wealth". Edward Waters College was listed. Morris Brown was listed as one of the black colleges that has an endowment of "less than $5 million." For those economists out there, such as Bill Dickens, how, exactly, does a black college build endowment wealth? No where does this article explain or describe that process. Also, I have noticed that several mainstream (white) denominations also have large endowments, such as Harvards? How does an institution (church or college) build an endowment? Maybe the United Negro College Fund needs this information. God bless. A.J.
-- Anonymous, January 27, 2005
Dear Sister I have had the opportunity to see how certain "White Churches" establish investment portfolios and endowments for their various entities. They set up insurance and investment companies either in the States or "Off-Shore" such as in Bermuda. These vehicles, similar to the ones I have tried to establish for the AME Church, create millions of dollars annually and they can apportion funds from these for their schools. In addition these shcools also benefit from extremely wealthy benefactors who list the schools in their wills.
I hope this information helps God Bless
-- Anonymous, February 01, 2005