Source: FORBES, 2/1/22


Inside the men’s dormitory at Tennessee State University (TSU), the heating and cooling unit is a rusted relic from the 1960s. Nearby, in the studio art building, yellowed paint is peeling off the cracked plaster walls. “Two thirds of our buildings are in substantial need of repair,” says Glenda Glover, president of this historically Black institution in Nashville. A contracting firm recently pegged the bill for TSU’s deferred maintenance at $427 million, a nearly unreachable sum for a school with an operating loss of more than $80 million a year on just $116 million in revenue and a puny $63 million endowment.

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