North Carolina Agricultural and Technical College’s endowment recently hit $200 million, ranking just behind Howard, Spelman, and Hampton universities as well as Morehouse College, all private universities.
Chancellor Harold L. Martin Sr., who will retire August 15, made increasing the university’s endowment one of his primary goals when he took the job in 2009. According to a press release from North Carolina A&T, the $200 million mark represents a tenfold increase as well as the largest endorsement for a public HBCU.
“As our endowment grows, it provides significant income to fund programs and enhance operations at North Carolina A&T,” Martin said. “It also increases our funding flexibility, allows us to plan more effectively for future initiatives, and lends strength to our bond ratings—all important in a highly competitive higher education marketplace.”
In 2009, the university’s
endowment was only about $20 million, but it would soon be assisted by an explosion in private donations. In 2012, Martin launched the Campaign for North Carolina A&T fundraiser and set a goal to raise $85 million, but the university had raised over $181 million by the time the campaign concluded in 2020.According to the press release, this made the campaign the biggest capital campaign ever completed by a public HBCU, boosting its endowment to approximately $140 million. Robert Pompey, the university’s vice chancellor for business and finance, credited the Endowment Committee and investment managers for their outstanding work.
That work is highlighted by the fact that during the pandemic, only North Carolina A&T and Howard University had their endowments increased, and North Carolina A&T’s increased its by almost 5%.
“Our outstanding Endowment Committee and investment managers are effective stewards of our investment portfolio, always ensuring that those funds are managed in ways that bring value to the university,” Pompey said. “Their work is a significant part of the story of our growth.”
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