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Arkansas Baptist College (ABC) is a private, historically black liberal arts college located in Little Rock, Arkansas. ABC was founded in 1884 as the Minister's Institute, and was initially funded by the Colored Baptists of the State of Arkansas.
ABC’s current president, Dr. Fitzgerald “Fitz” Hill, is the 13th president in the school’s history. Dr. Hill accepted his presidency at a time when no salary was budgeted to pay him, and school enrollment had dipped to fewer than 200 students. Under Dr. Hill’s leadership, enrollment has since grown to more than 1,100 students. The school's budget has grown from $2 million to nearly $20 million, and Dr. Hill now draws a salary[[#_edn1|<sup><sup>[i]</sup></sup>]].
Dr. Hill is committed to nurturing ABC’s traditional strengths as a historically black college: connecting academic programs to applied workforce and entrepreneurial skills and taking a leading role in rebuilding the local community.
The Community Union, an 11,000-square-foot facility scheduled to open later in 2012, a renovated Old Main residence hall, and two new education buildings, are part of an over $30 million capital campaign now underway at Arkansas Baptist College.
Arkansas Baptist College’s (ABC) '''Scott Ford Center for Entrepreneurship and Community Development[[#_edn2|'''[ii]''']]''' is ABC’s flagship entrepreneurship initiative. In addition to a micro-lending program, the Center will offer '''''the Icehouse Project''''', a special course designed to immerse participants in eight life-lessons in fundamental concepts to building an entrepreneurial mindset. ABC is one of the initial pilot sites for the Icehouse Project, which was developed by Pulitzer Prize-nominee Clifton Taulbert and Gary Schoeniger. '''The Ewing Marion Kauffman Foundation''' and '''''the Foundation of Entrepreneurship''''', which focuses on entrepreneurship, innovation, and education provides funding for Icehouse Project
The '''African Bean Company''' is another key partner in the Scott Ford Center. African Bean Company manufactures the '''''Roots Java''''' coffee brand, which sells coffee beans harvested in Africa. Currently, the African Bean Company is negotiating retail agreements with major retailers throughout the country. Profits from sales will assist ABC in its capital campaign. The college will house a Roots Java retail outlet in the Community Union building.
ABC’s Capital Campaign and various entrepreneurship initiatives have deepened the College’s collaborations with the private industry. These collaborative relationships include '''First Security Bank of Little Rock''' and '''''Arkansas Capital Corporation.'''''
'''First Security Bank of Little Rock''' and '''''Arkansas Capital Corporation''''' will provide financing for ABC’s $18 million capital improvement initiative[[#_edn3|[iii]]]. Under the New Markets Tax Credit Program, the Arkansas Capital Corporation will sell tax credits to qualified national investors, and the tax credits ultimately will reduce the amount of debt owed by ABC to First Security Bank.
Over the past two years, ABC has raised $6 million in contributions and grants for capital projects. The College has also demolished or renovated 20 houses, bought 12 additional homes and lots, and acquired three businesses in an effort to revitalize the neighborhood. As part of the capital improvement, ABC has:
The '''''Scott Ford Center for Entrepreneurship and Community Development''''' will be recognized as an innovator in educating and serving students and clients in economic development. In addition, the Center will become a catalyst for development in Little Rock and beyond. The design of the Center is a blended model using a micro-enterprise development process through business education. This process will combine the best practices in this generation of revenue and social-value to educate and train social entrepreneurs for the twenty-first century.
ABC through '''''the Scott Ford Center for Entrepreneurship and Community Development[[#_edn4|'''[iv]''']]''''', will house a micro-lending program to provide small business loans to individuals who might not otherwise qualify. The micro-enterprise loan fund will serve as a catalyst to spur business development in core urban areas. An independent board that includes the College’s business faculty and administration, and local experts in banking and venture capital will supervise the pilot fund.
*Lending will range from $50 loans to up to $5,000.
Improvements have not been limited to physical structures; ABC has maintained its accreditation by the North Central Higher Learning Commission and enrollment has grown to more than 1,100 students. The school's budget has also grown from $2 million to nearly $20 million.
ABC’s success was crafted by Dr. Hill’s innovative vision of creating a non-traditional entrepreneurial school which welcomes everyone. The college assists high school dropouts (up to 40 percent of urban students currently drop out) to earn a GED. Successful candidates can then enroll full-time at ABC. Dr. Hill has also set on an aggressive $36 million capital campaign, which has already raised $23 million. Even so, tuition is about $2,700 a semester, making ABC the least expensive private school in Arkansas[[#_edn5|<sup><sup>[v]</sup></sup>]].
Just as importantly, many of the initiatives that account for ABC’s success can be replicated in many HBCU and urban universities.
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<br/>Source: "The Innovative and Entrepreneurial University: Higher Education, Innovation & Entrepreneurship in Focus", Department of Commerce, October 2013.