Note: In an interview with U.S.News and World Report, Bowie State University President Aminta H. Breaux discussed the importance of philanthropy to ensure the sustainability of HBCUs. U.S. News: How important are endowments in the long term for student success and access, particularly for HBCUs?President Aminta H. Breaux: Endowments are critically important to the long-term success and sustainability of higher education institutions, particularly Historically Black Colleges and Universities.An endowment represents long-term financial stability, a nest egg that allows an institution to weather economic uncertainty while continuing to invest in students, faculty, innovation and opportunity.For generations, many other universities have benefited from large endowments that compounded over decades, even centuries. HBCUs, on the other hand, have often carried out extraordinary missions with far fewer financial resources. The growing financial need of students and families makes private philanthropy and endowment growth more important than ever. With increased private giving, we are now positioned to help to close affordability gaps and make a college education more accessible.What excites me most is what this means for the future. The Bowie State endowment is now positioned to support academic programs in fields that may not even exist today.U.S. News: The “BSU Bold” campaign raised more than double its original goal. How did the university build momentum so that the initial $25 million gift from MacKenzie Scott acted as a catalyst for other donors?President Breaux: Bowie State ultimately raised $128.5 million after launching the campaign with an initial goal of $50 million, and approximately 90% of those funds have already been collected.
