Private Support at N.C. A&T Charted Record, Expanded Endowment in FY2017

Greensboro, N.C. (Sept. 19, 2017) – Donors to North Carolina Agricultural and Technical State University stepped up at a record level in Fiscal Year 2017 with gifts of $14.7 million, a high watermark for A&T that represents a 56 percent jump over the previous year.

The increase contributed significantly to growth in the university’s total endowment, which reached $55.2 million at the end of June, N.C. A&T leaders say. Over the past five years, that total has grown by more than $23 million, in large part due to the generosity of individuals who received their education at A&T.

“What was most striking about the increase in private support for North Carolina A&T this past year is the way in which our alumni invested so strongly in the future of the university,” said Ken Sigmon, vice chancellor for University Advancement. “Clearly, they are being motivated by the ambitious goals we set for the university in our strategic plan, Preeminence 2020. That pertains to friends of the university, as well, who came through in big numbers to help us achieve this record year.

“We are deeply appreciative of the generosity of all our supporters, and excited for the success it portends for the new fiscal year.”

The $14.7 million FY17 total includes several notable developments below the top line. Corporate and foundation giving, for instance, totaled $6.6 million, while alumni giving came in at $6.3 million.

Giving directly to endowments totaled $3.6 million, a 26 percent increase over the previous year. Growing endowments enable universities to enhance the quality of their programs, make strategic faculty hires to expand their research endeavors and academic departments and take other key actions to elevate the quality of their institutions.

A&T’s endowment is among the nation’s largest for historically black colleges and universities, but it trails far behind those of fellow research universities and land grant institutions. The increase in endowment support helped to make up ground in that critical measure of financial vitality.

The multiplicity of A&T’s private support growth in FY17 was particularly welcome news, given the wide-ranging impact of the funding.

“That giving reached every corner of the university, from helping students meet the costs of a college education to recruiting and retaining the best and brightest students and faculty to supporting infrastructure and academic programs upgrades,” said Sigmon. “With this support, A&T is a stronger university than it was just one year ago. That’s tremendously exciting.”