Two-and-a-half years ahead of schedule, Bowie State University has met its $50 million fundraising goal.
The oldest historically Black college or university in Maryland received a record $14 million in private donations in fiscal 2023. From 2009 to 2017, Bowie State averaged just $1.4 million in donations each year. The school’s endowment has more than quintupled from $7 million in 2019 to $40 million this year. However, according to Brent Swinton, vice president for institutional advancement, the school yields about 4.5% of the endowment each year.
The majority of donations since the university announced its fundraising effort, called “BSU Bold: The Campaign for Excellence,” have been made as signed pledges — promises from donors to fulfill donations over time. In part, these donations have been met through partnerships with major companies. This has resulted in an increased number of scholarships for students, especially those pursuing STEM-related careers.
In 2021, Adobe Inc. awarded $1 million to Bowie State as a part of its Adobe Anchor School Program for Black and Hispanic students interested in tech careers.
