HBCU Digest

HBCU News, Commentary and Information

Finance Archive

Thursday

24

January 2013

3

COMMENTS

Black College Leaders Contemplate Value of Intercollegiate Athletics

Written by , Posted in Finance, Sports

“It’s not a question of any lack of interest or pride,” says Dr. Canter Brown, executive vice president at Fort Valley, noting the university attracts supporters from around the area for its intercollegiate events. “It’s a matter of who can afford to pay for it,” he says, noting Fort Valley, like most small, rural public colleges, doesn’t have rich alumni or a television revenue contract through its athletic conference. “The bottom line is always going to be red ink unless you have a very significant amount of sponsor support or booster contributions,” he says.

Tuesday

22

January 2013

2

COMMENTS

Friday

18

January 2013

1

COMMENTS

Mississippi Valley State Waives Out-of-State Tuition

Written by , Posted in Finance, Mississippi, Mississippi Valley State University

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Mississippi Valley State University students will all be eligible to pay in-state tuition costs, after the state College Board recently approved the university as the second university in the state to waive out-of-state rates to help boost enrollment at the school. MVSU boasts one of the lowest tuition rates in the state, but with dramatic cuts in state funding and MVSU out-of-state students comprising just over 300 of the university’s total enrollment of 2,500, the university says that it will benefit from the cost-cutting effort.

“Our resident tuition, if you compare it to resident tuition in other states, is a bargain,” (Acting MVSU President Alfred) Rankins said Thursday before the board voted.

Valley says it can accommodate more students without additional costs, and that it can recoup lost money if it attracts another 110 students. The school estimates it will not only offset the loss but gain $4.5 million in new tuition revenue by 2018, with a target of adding 215 additional non-resident students by then.

 

Wednesday

9

January 2013

0

COMMENTS

Albany State Refunds Ray Charles Donation

Written by , Posted in Albany State University, Finance, Georgia

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The Albany Herald today reports that Albany State University has refunded money given to the university by Ray Charles through his foundation. It is not clear how much money the institution has refunded to the Foundation, and the transaction ends years of acrimony between the school and the organization, which says Albany State never made good on its promise to build a fine arts center in honor of Charles’ mother.

“The funds were granted solely to help build a performing arts center, The Ray Charles Fine Arts Building, housing a theater to be named in honor of the singer’s mother, Retha Robinson. Since no effort was made to build the facility and years of promises produced no outcome, the Foundation contacted Georgia Attorney General, Samuel Owens, to seek his office’s assistance. Graciously, Atty General Owens agreed to listen to their grievance,” David Brokaw, a spokesman for the Charles Foundation told the Herald Wednesday.

Last year, Albany State officials said that Charles donated $3 million to Albany State between 2001 and 2002, and that neither of the gifts were explicitly restricted to construction of a campus fine arts center. Reports from 2012 suggest that the university awarded $1 million of his gift in student scholarships, and earmarked the other $2 million towards the fine arts center conceptualizing and construction, which the university said would be completed in 2013 or 2014 at a cost of $72 million.

Wednesday

2

January 2013

5

COMMENTS

Alabama State at Center of Student Aid Fraud Investigation

Written by , Posted in Alabama, Alabama State University, Finance, Leadership

John Knight

The Montgomery Advertiser tonight reports that a total of nearly $50,000 in money reserved for student aid and refunds was diverted from university accounts and into personal banking accounts beginning in January 2011. Officials from ASU told the Advertiser that all students have received their due disbursements, but the reimbursements were paid at the university’s expense.

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Wednesday

2

January 2013

0

COMMENTS

Talking HBCU Philanthropy with Fayetteville State Chancellor James Anderson

Written by , Posted in Fayetteville State University, Finance, Leadership, North Carolina

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As 2013 opens with great possibilities for historically black colleges and the communities they serve, the pressing issue of fundraising remains a top priority for black college presidents and chancellors nationwide. Some HBCU leaders, like Morehouse College President Dr. John Wilson, have suggested that prosperity for a elite segment of HBCUs is tied to their ability to engage a multi-ethnic base of philanthropists. Others suggest that HBCU legacies will be financed by those who benefit from them the most, alumni and the communities served by the HBCU presence.

Fayetteville State University opens the new year on the heels of two substantial alumni gifts presented to the school during the fall semester. Entrepreneur Nicholas Perkins presented FSU with a $100,000 donation for student scholarships in the university’s School of Business and Economics, and two $25,000 gifts given by Ben and Dorothy Brown and James Boyd. FSU Chancellor Dr. James Anderson recently shared some of his thoughts on how to engage financial support, and how to present the HBCU mission as a profitable investment for donors.

(more…)

Monday

17

December 2012

0

COMMENTS

Letter to the Editor – The Virgin Islands’ Alumni Giving Miracle

Written by , Posted in Alumni, Editorial, Finance, University of the Virgin Islands

David Hall

The word miracle is one of the most overused words that falls from the mouths of religious leaders and laypersons. Any occurrence that cannot be easily explained or that average people or institutions are not able to replicate is given this celestial label. The academy has its doubt as to whether this label is ever appropriate since it demands that every act, occurrence and phenomenon should be subject to scrutiny and a plausible and rational explanation provided. Yet there are times when even the most avid scientist is willing to bestow this title upon the actions of an event within an educational institution because the accomplishment defies the standards by such a great margin.

Some feel that the label is appropriate when something is “statistically unlikely but beneficial.” I describe the achievement below as a “miracle,” not because it can’t be explained, but because I challenge other institutions to replicate it.

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Monday

26

November 2012

0

COMMENTS

Wednesday

14

November 2012

0

COMMENTS

Monday

29

October 2012

0

COMMENTS

Shaw Names Debra Latimore VP of Fiscal Affairs

Written by , Posted in Finance, North Carolina, Shaw University

Ms. Latimore’s financial and business expertise during her time as Interim Vice President of Fiscal Affairs helped to provide fiscal strength to this University and laid a solid foundation that will allow us to operate effectively,” said Shaw University President Dr. Dorothy Cowser Yancy. “I welcome her continued leadership and creativity in developing a culture of fiscal efficiency.”

Tuesday

23

October 2012

0

COMMENTS

UDC to Repay Over $500K to National Science Foundation

Written by , Posted in Finance, University of the District of Columbia, Washington DC

The Washington Post today reports that the University of the District of Columbia will repay more than $500,000 to the National Science Foundation, reimbursing what federal prosecutors classify as false claims made for payment on a grant.

The grant was awarded to UDC in 2004 for the university to establish a science and technology program, but investigators say that the school provided inadequate records of how the money was managed or its outcomes.

Monday

22

October 2012

1

COMMENTS

‘Financial Peril’ for Morehouse? Nah.

Written by , Posted in Finance, Georgia, Morehouse College

That’s the headline for the Grio’s story on recent plans for faculty and academic cuts at the institution. But let’s be really real here. Morris Brown is in financial peril. Morehouse is not.

The United Negro College Fund has a self-destruct button in its main headquarters for the very day that Morehouse actually does face financial peril -  a strong indication that too many black and white folks are invested in its existence for this to even be a headline. Financial peril is keeping the lights on, or having to shutter the campus. Adjusting to enrollment trends and financial realities that exist at schools everywhere? Smart business.