Retiring Chancellor Harold L. Martin Sr. of North Carolina Agricultural and Technical State University is leaving the university with a bang. The North Carolina A&T endowment has exceeded $200 million, a nearly tenfold increase since Martin took over the university in 2009.
As of June 30, the university has an endowment of $202 million, making it the largest of any public historically Black college or university in the country. Following Howard University, Spelman College, Hampton University, and Morehouse College—all private universities—A&T is predicted to come in fifth place when the final FY2024 enrollment data for all HBCUs is released.
“As our endowment grows, it provides significant income to fund programs and enhance operations at North Carolina A&T,” said Martin, who will officially retire Aug. 15. “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.”
When Martin began working at North Carolina A&T, the endowment’s value was approximately $20 million. In 2012, the institution started the Campaign for North Carolina A&T with the aim of raising $85 million as private contributions started to increase.
With ease, the university achieved that target, increased it to $100 million, and then beat that as well. The campaign ended in 2020 with a total of $181.4 million raised, making it the biggest capital campaign ever launched by a public historically Black college. As a result, the endowment increased to over $140 million.
“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,” said Robert Pompey, vice chancellor for Business and Finance. “Their work is a significant part of the story of our growth.”
North Carolina A&T has experienced a significant amount of growth within the past year. Despite a national enrollment decline, North Carolina A&T is one of two North Carolina HBCUs that has sustained consistent growth over the last ten years. Enrollment at North Carolina A&T has grown from 10,636 in 2012 to 13,487 in 2022. North Carolina A&T has held its spot as the largest HBCU in the country for the last ten years. 13,883 students enrolled in the university for the 2023–2024 school year.
The $200 million endowment is only a portion of the university’s $218 million in total assets.
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