Fisk University: A Legacy of Education and Enduring Financial Challenges

Historically black colleges and universities (HBCUs) have been instrumental in providing educational opportunities to millions of students of color, with a significant number being first-generation college students. These institutions, including Fisk University, face unique financial challenges rooted in historical disparities and ongoing systemic issues.

The Historical Significance of Fisk University

Fisk University, a private, nonprofit, historically black university (HBCU), was founded in 1866. Located in Nashville, the campus is a historic district listed on the National Register. Fisk University was established to educate formerly enslaved people in the months following the Civil War and was first known as The Fisk School. The university is ranked among the top ten of 105 HBCUs, with a rich history, high academic performance and strong graduate impacts.

Early Years and the Fisk Jubilee Singers

Just five years after its founding, Congress stopped funding black colleges. In the early years, Fisk faced significant financial difficulties. To alleviate these issues, the university formed a student chorus known as the Fisk Jubilee Singers. In 1871, the Fisk Jubilee Singers went on tour to raise funds, led by professor and university treasurer George L. White. Their tours became legendary. The Fisk Jubilee Singers introduced Black spirituals to new audiences and went on to become world-renowned. They performed at the White House for President Grant and in England for Queen Victoria. With the money the singers raised, Fisk bought the land it sat on and built the campus' first permanent building. At Fisk events, speakers frequently invoke the original nine Jubilee Singers, thanking them for their dedication to the school.

Academic Milestones and Social Impact

In 1930, Fisk became the first historically black institution to gain accreditation by the Southern Association of Colleges and Schools (SACS). It was also the first such institution approved by the Association of American Universities in 1933. In 1952, Fisk was the first predominantly black college to earn a Phi Beta Kappa charter.

Fisk played a crucial role during the Civil Rights Movement. Fisk students led the lunch counter protests that contributed to Nashville's peaceful desegregation.

Campus and Notable Features

Fisk's 40-acre campus was dedicated in 1876. The Fisk University Historic District was added to the National Register of Historic Places in 1978. Key buildings on campus include:

Jubilee Hall: Completed in 1876, it is the oldest permanent building for the higher education of African Americans in the United States.
Fisk Memorial Chapel: Built in 1892 in the Victorian style, it was the largest building for African Americans to gather in the country at the time.
Carnegie Hall: Originally built as a library in 1908.
Cravath Hall: Completed in 1930 and named for the institution's first president, it originally served as a library.
Carl Van Vechten Gallery: Built in 1888, it houses Fisk's renowned Stieglitz Collection of modern art.
Talley Brady Hall: Built in 1931, it is the first modern chemistry building at a historically black college or university.

The campus also features a bronze sculpture of W. E. B. Du Bois, erected in 1982. In 1930, Harlem Renaissance painter Aaron Douglas was commissioned to paint murals for the new campus library, Cravath Hall.

Financial Challenges and Attempts at Stability

Fisk's financial issues aren't a recent occurrence. The school had been in the red for years. Like many HBCUs, Fisk University faces significant financial challenges. These challenges stem from a combination of factors, including:

Historic Disparities in Investment: Federal and state policies, as well as discriminatory lending practices, have historically limited HBCUs' access to resources compared to non-HBCUs.
Endowment Disparities: HBCU endowments lag behind those of non-HBCUs by at least 70%.
Reliance on Federal and State Funding: The largest portion of operating funds for HBCUs like Fisk comes from federal and state resources, which declined significantly between 2003 and 2015.

Financial Crises and Solutions

Fisk nearly went bankrupt in the 1980s. In the mid-2000s, Fisk began an extended legal battle over whether it could sell famous paintings donated by Georgia O’Keeffe. In the wake of serious financial issues, Fisk University attempted to sell its stake of the art collection donated to the school by the late Georgia O'Keeffe. However, a judge rejected this move by officials at the Nashville school because it would breach the terms upon which the collection was donated. The state is fighting it tooth and nail saying that if Fisk is allowed to sell off something that was given to them, then other donors might balk at giving to Tennessee universities and museums in the future.

In 2005, mounting financial difficulties and deteriorating conditions in the gallery led the trustees to vote to sell two of the paintings. A joint agreement was established between Fisk University and the Crystal Bridges Museum of American Art. The two museums now share the works' presentation and display rights of the Stieglitz collection; ownership remains with Fisk University, in accord with the terms of Stieglitz's estate. Presentation and display rights rotate between Fisk University and Crystal Bridges Museum every two years.

Current Financial Status and Strategies

Fisk is working to be more than an academic institution by providing its students a first step on a career ladder. Reinvestment Fund’s loan to Fisk University aims to significantly improve the University’s financial health and long-term stability. Using capital from the CDFI Fund Bond Guarantee Program (BGP), the loan gives Fisk long-term affordable financing, freeing-up cashflow, reducing the number of long-term liabilities, and positioning the university to embark on a larger capital improvement campaign.

The school is also getting more aggressive about fundraising. It’s running a campaign to increase the percentage of alumni who donate, from a quarter to a half. Fisk is on track to finish the year with a 25 percent boost in fundraising over last year, Frederiksen says.

Clark helped usher in the passage of a new master plan for the campus, which will be unveiled in the coming months. Clark said it maps out how the school will support students, bolster academics and improve infrastructure through multiple phases.

Student Body and Academic Achievements

Fisk’s student body is 70% female and 86% African-American, 5% international students. One sixth of Fisk’s incoming students were either valedictorian or salutatorian of their high school. Two seniors were named as Rhodes Scholar finalists in 2019, a first in Fisk’s history.

Fisk is nationally ranked for its master's program in physics. The Fisk-Vanderbilt bridge program helps underrepresented groups gain access to PhD programs in STEM fields.

Leadership and Community Engagement

Agenia Walker Clark just marked 18 months at the helm of Fisk University. Clark's focus from the start has been building financial stability for Fisk, which has an enrollment of roughly 1,000 students. A graduate of Fisk who has stayed connected with the university for decades, Pryor, the board chair, said she is confident in Clark's leadership. She attested to Clark's deep connections with Nashville leaders that have renewed Fisk's community engagement.

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