A List of HBCU Endowments vs. Harvard's: The Real Reason Why Harvard Can Sue Trump and Black Colleges Won't

The Montgomery university has come a long way since it was founded by nine former slaves in 1867. In 2024, the school celebrated a historic endowment of $125 million, according to ABC News. In the same year, Alabama State University partnered with private equity firm Neuberger Berman to manage the school’s endowment. This marked the largest partnership between a Wall Street firm and a public HBCU... ever!

Kentucky is home to only two HBCUs, and KSU is one of them. In 2024, Kentucky State University reported its endowment was $22,290,529.82. KSU put itself in a unique position recently after the KSU Board of Regents voted to separate from KSU Foundation, Inc. With this bold move, the university has stronger control over its money, which it says will only benefit its students.

As of 2022, Talladega College in Alabama had an endowment valued at almost $3 million, according to Data USA. Unlike HBCUs with bigger names and bigger endowments, the college’s small wallet has led to a series of financial issues. According to AL.com, the HBCU said it’s in “significant debt” after years of payroll increasing while enrollment decreased.

The Ohio HBCU has been struggling financially for the past few years. With an endowment of just over $7 million, according to Data USA, managing operations at Central State University has brought many challenges. In fact, the school’s endowment declined 5.41 percent from 2021 to 2022. This is $42.2 million less than the average endowment for baccalaureate colleges, according to the Carnegie Classification grouping.

Bowie State University was the first HBCU founded in Maryland. Since then, the university has become a hub for Black scholarship and community, but it hasn’t always been easy. Now, the school’s endowment is $40 million, according to BSU. This is a significant increase from the school’s endowment of $7 million in 2018.

In 2024, the university made history becoming the top public HBCU with the largest endowment. Standing at $202 million, according to the school’s website, NCAT’s endowment helps to support campus facilities, educational programs and day to day living. In total, the school has 14,311 students, making NCAT the HBCU with the highest enrollment.

The all-male HBCU has produced countless greats like Martin Luther King Jr. and Spike Lee. Morehouse College uses its endowment of $275 million to support programs at the college which directly benefit students and campus life, according to its 2023 endowment report. 

“In order to attract and retain young men worthy of the Morehouse experience, we will need to grow our endowment to $1.5 Billion,” according to President David Thomas. “If Morehouse is to continue remaining competitive with other elite private, liberal arts schools, we need to be able to ensure that we have the scholarships, support services, and academic resources.”

Ranked as the best HBCU in the nation, Spelman College is dedicated to the success of Black women. The institution’s endowment averages around $500 million each year, according to Spelman’s board chair, Lovette Russell. The university, like Morehouse, has a five-year plan to raise its endowment 100 percent, in order to actively compete with white colleges and universities across the country.

The medical school located in Nashville, along with all other HBCUs, educates half of all Black doctors in the U.S., according to the school’s website. In early 2024, their endowment was listed at $179 million. But after a sizable donation from Bloomberg Philanthropies, Meharry’s endowment nearly doubled it.

Small but mighty Norfolk State University is gradually increasing its endowment. By the end of 2022, the school announced its endowment stood at about $81.5 million. This was a 140 percent increase from the year before, according to Data USA.

Maybe it’s no mistake that both Harvard and Howard University are both “HU.” Howard, which is located in the nation’s capital, is also called “the Mecca” after their well-known efforts to preserve Black history and provide spaces for intellectual conversations. Out of all 107 HBCUs, Howard is the only whose endowment reaches over $1 billion, according to Pensions & Investments. Despite Howard University making history, Harvard’s endowment is still 50 times larger than the HBCU.

In 2024, Virginia State University ranked no. 7 on the list of highest HBCU endowments, according to the school’s website. This exceeded the national average of endowment funding per HBCU student, which was $22,903. On the flip side, the richest university in the country, Harvard, spends average $7 million per student each year, according to FOX News.

Last year, Florida A&M University received a donation almost double that of its previous endowment of $121 million, according to the Capitolist. It was with this $237 million gift from the Issac Batterson 7th Family Trust and its CEO Gregory Gerami that catapulted the school into newer heights. Now, the FAMU’s endowment sits at $358 million.

Ever since being founded in 1868, Hampton University— previously Hampton Normal and Agricultural Institute— has remained a pillar for Black excellence. According to a 2023 report by Inside Higher Ed, Hampton University previously had an endowment worth $349 million. The university, which is located in Virginia, has received several donations over the years to contribute to its growing endowment.

In 2020, the university reported its endowment was almost $40 million. Since then, a pandemic and President Joe Biden’s term have both passed. Now, Way Maker Journal reports Morgan State University’s endowment is around $101 million. This increase could partially be attributed to the across the board HBCU endowment increase of 2020 to 2022.