Written By the Howard University Newstaff
Howard University released a comprehensive report detailing the significant progress the University has made on its Howard Forward strategic plan. Launched in 2019, the plan aims to transform the University through various initiatives that strengthen Howard’s position as a leading institution for education and research in the 21st century.
“The Howard Forward strategic plan has been a powerful driver of transformation on our campus over the past three years. We are happy to share this report highlighting the considerable progress we’ve made to strengthen the University’s position as a leading research institution,” said President Wayne A. I. Frederick, M.D., MBA. “Howard has a long-standing reputation as a leader in higher education, with a dedication to serving the Black diaspora. The Howard Forward strategic plan allows us to build upon that legacy of excellence to ensure that Howard continues to uphold its position as an innovator in equitable and responsive education.”
The report highlights the University’s impressive advancements across five key priorities outlined in the strategic plan: Enhance Academic Excellence; Inspire New Knowledge; Serve the Community; Improve Efficiency and Effectiveness and Achieve Financial Sustainability.
The University’s key accomplishments outlined in the report include:
- In 2022, Howard secured a record-breaking $122 million in research funding, surpassing the University’s goal of reaching $100 million in research funding by 2024. In 2023, Howard became the first HBCU contracted by the Pentagon to establish a University Affiliated Research Center (UARC). The UARC will generate up to $90 million in research grants over the next five years alone.
- Since 2019, Howard has distributed over $27 million in direct cash payments to students. The University raised more money for student financial aid in the past three years than in the previous 150 years combined.
- Howard invested a record $785 million to accelerate renovations and construct new academic facilities with a focus on increasing efficiency and effectiveness. Howard also raised faculty pay by an average of 20% and established a 3% pay raise for staff.
- The University’s one-year retention increased to 90% in 2020, with a goal of 95% by Fall 2024 as part of its goal to enhancing academic excellence. Despite the pandemic causing a decline in college enrollment for most colleges and universities, Howard surpassed its original enrollment goal of 10,000 students in FY 24 and raised the goal to 12,500 students, which it also exceeded in Fall 2022.
- The University’s endowment increased to $865.3 million, putting it on track to reach its Howard Forward goal of $1 billion by 2024.
- Credit rating agencies have taken notice of Howard’s significant strides toward greater fiscal health. Both Fitch and S&P Global Ratings agencies have revised their ratings outlooks from ‘stable’ to ‘positive.’ This upgrade reflects the Frederick administration’s commitment to building a solid foundation for the University’s future.
These accomplishments earned Howard several recognitions, including rising 53 spots on U.S. News Best Colleges rankings, and now ranks among the top 100 research institutions in the nation.
The full report outlining the progress on each of the Howard Forward pillars is available at The Chronicle of Higher Education.
