When Spelman College hired Robert D. Flanigan Jr. in 1970, he figured he would seek opportunities elsewhere in about three years. After all, didn’t a mere assistant to the business manager have to leave in order to climb the career ladder?
As it turns out, no.
Flanigan, who goes by “Danny,” has served as Spelman’s vice president for business and financial affairs since 1994. He has spent nearly 40 years at Spelman. Among other things, he helped grow an endowment that, despite taking hits during this economic downturn, remains one of the healthiest among historically Black institutions. Late last year, the endowment stood at $276 million.
When Spelman trustee Ted Aronson and his wife made a $5 million gift to the school in 2006, they requested that scholarships issued from that endowment bear the names of several individuals significant to Spelman — including Flanigan.
“The returns that Danny and his people have made on investments have changed the face of Spelman,” Aronson says. “Tuition would be much higher if not for those returns. The school has plenty of needs, but who cares if there’s air conditioning on campus if students can’t afford to go there?”
Aronson is among more than 40 investment fund managers involved in Spelman’s endowment and, according to Flanigan’s estimate, currently handles a 1 percent slice.
Flanigan jokes that every time he considered leaving Spelman for another school or for a position outside of academia, “I seemed to get promoted.”
