NCCU trustee launches $1 million endowment with $250,000 gift
The money will be used to enhance the NCCU School of Business, which recently announced plans for a new, state-of-the-art building on the Durham campus.
A member of North Carolina Central University’s board trustees is being credited with kick starting a $1 million endowment with an initial gift of $250,000.
The school received matching funds from the University of North Carolina General Administration and from the U.S. Department of Education.
The money will be used to enhance the NCCU School of Business, which recently announced plans to build what the university is calling a new, state-of-the-art building on the Durham campus.
Michael P. Johnson, class of 1969, said he was motivated to make the donation because of his life experiences.
“NCCU not only provided me with a great education, but with a vision of what I could achieve,” Johnson said in a statement released by the school.
Johnson, who attended NCCU as a football recruit from East St. Louis, Ill., graduated with a degree in business administration and went on to have an extensive corporate career at companies including RCA Corporation, Lockheed Martin and Amoco Corp. In 2008, he founded J&A Group LLC, a management and business-consulting firm.
He also has served on several corporate boards, including CenterPoint Energy, Buffalo Wild Wings and Quiktrip Corp.
Inspired by Role Models
Before attending NCCU, Johnson, who now lives in Tulsa, Okla., said he had never seen a black person in corporate America.
“While in school, I encountered many role models who helped clear the way for me to follow my vision,” he said.
NCCU officials said Johnson has been a longtime supporter of the university, often assisting with key academic initiatives and student scholarship needs. In 2016 he was awarded NCCU’s Distinguished Alumni honor.
After the University of North Carolina matched Johnson’s initial gift to the school, the U.S. Department of Education matched those two gifts through a federal program designed to strengthen historically black colleges and universities – brining the total amount to $1 million.
NCCU officials are calling it the Michael P. Johnson Endowment.
“The positive impact from this gift will be felt by our students in this decade and for many decades to come,” NCCU Vice Chancellor for Institutional Advancement Harriet Frink Davis said in a statement. “Our goal is to continue growing the university endowment and the generosity of Mr. Johnson enables NCCU to do just that.”