mEET PRESIDENT TONY ALLEN
Talk of mergers, acquisitions and assumed liability doesn’t exactly seem like academic banter. These financial terms tend to be exchanged during closed-door C-suite meetings in skyscrapers amongst corporate business leaders when a big deal is being considered. That is, unless your background is in banking and you’re the leader of an institution of higher learning.
Four years ago, Dr. Tony Allen masterminded a way to combine his financial business acumen, fervor for academia, and love for his hometown HBCU–by becoming its president. Allen fanboyed Delaware State University while a student at William Penn High School in the late 1980s. While he didn’t attend DSU in an effort to take advantage of a full ride, he kept close watch while studying at University of Delaware for his bachelor’s in political science and at Baruch College for his master’s in public administration. Before he returned to University of Delaware for his doctorate in urban affairs and public policy, Allen figured out his life’s work should be devoted to education.
“This is the best professional decision of my life,” said Allen. “In 1995, I wrote down 10 goals on my vision board. One goal was to be president of Delaware State University. I thought Delaware State was a hidden gem, not particularly well known, despite it being full of exceptional alumni, colleagues and peers. It was always my goal to be there to take the ‘hidden’ off the gem.”
The Long Walk to DSU
But first, Allen decided he’d get some leadership development under his belt as co-founder of Public Allies Delaware. He then delved into speechwriting for then-United States Senator Joseph R. Biden, Jr. in 1997. Allen then added four years of social justice leadership to his portfolio as founding President of the Metropolitan Wilmington Urban League, which was followed by a 13-year stint in banking where he was ultimately head of Corporate Reputation for Bank of America. By 2017, he ultimately found his way to DSU when he was named provost and professor of public policy. Just three years later, in January 2020, he was named president over the 133-year-old institution.
And that’s when it happened. Allen’s portfolio of experience in public service, mentorship, organization leadership, communications, finance and academia led to the very first HBCU acquisition and merger of a predominately white institution (PWI) in 2021.
“That’s all him: bringing the business acumen into the academy,” said Harry Williams, Ed.D. who served as DSU president from 2010 to 2018. He is now President & Chief Executive Officer Thurgood Marshall College Fund. “He is a transformational leader, an innovator and visionary. He’s not afraid to do things that others may not want to do. He saw how we could increase overall enrollment and increase revenue. Those are business terms that you don’t usually see in the academy.”
An Acquisition Like No Other
Wesley College, a 127-year-old, small liberal arts institution located in the state’s capital of Dover was struggling to keep its doors open since 2007 following the resignation of its president. Allen said Wesley College searched for a collaboration partner to remain open, but DSU never made their list–not until Allen invited the DSU to the bargaining table.
“Before I became president, I watched Wesley College shop around for partnership, and I said we wanted an at bat,” recalled Allen. “Two years later, we were able to complete the deal. For DSU, we needed a presence in downtown Dover. They had a very pristine nursing program which we thought was attractive, 20 buildings, 600 students, and 50 acres of land downtown. All of their assets valued at $30 million.”
“Our view was we could not use dollars,” continued Allen. “They would have to give us their assets in order for this to work. Students needed somewhere to be educated, something had to be done with buildings, and capacity needed to be built. We assumed all liabilities, so there was no monetary exchange. That was very, very helpful in how we were able to do it,and how we continue to do it.”
DSU is now the fastest growing HBCU in the country. Since 2017, the University has increased its student body from 4,850 to nearly 6,400, had a 30% increase to its research portfolio now at $30 million, and each year generates about $750 million in economic impact to the State of Delaware.
“I’ve been active with DSU for decades and was around for the acquisition of Wesley. It was a bold and ambitious move for the growth and betterment of students and our state,” said Rep. Lisa Blunt Rochester. ”Because of Dr. Allen’s creativity, communication skills, and connections to Delaware’s public, private and non-profit sector leaders, this vision became reality.”
Blunt Rochester first met Allen when he worked for then-Sen. Biden. Soon after they worked in collaboration at the Metropolitan Urban League, before she succeeded him as the second CEO of the organization. Friends and colleagues for decades now, Blunt Rochester calls him an exceptional leader based on his abilities and accomplishments.
“Him coming from a business background is a plus because he can understand the cost and breakdown on what we can do versus what we can’t,” said David Hawkins, a 2023 DSU and digital insurance and transparency associate for PricewaterhouseCoopers. “But it’s not just numbers; he takes into consideration his target audience. One thing I know about Dr. Allen is that he’s ‘students first’. He has a heart. What he does is not just for show or his resume. He prides himself on impacting other people’s lives. He changed mine.”
Blunt Rochester cosigned on Allen’s penchant for students. “Dr. Allen’s unwavering support for our HBCU students is reflected in his phenomenal leadership as President of Delaware State University and Chair of the President’s Board of Advisors on Historically Black Colleges and Universities,” she said. “Delaware and our country are better because of Dr. Allen.”
Expanding DSU’s Reputation, Portfolio and Reach
A super smart business decision for DSU, the acquisition wasn’t about bragging rights. The university is, however, the only HBCU to acquire another college or university in the United States. The merger also wasn’t about securing the bag–though the university’s financial health is allowing it to build for the long term, according to Allen. A major motivator for the acquisition was an effort to make a larger impact for DSU students, in addition to the community of marginalized families in Dover. The merger allowed for DSU to increase its academic programs by 14 offerings, one of those being behavioral sciences.
“On one side of the campus, it is a pretty well-healed part of the Dover community,” said Allen. “The other side is one of lower-resourced communities in Delaware. We wanted to make a special effort to connect with that community, including in the area of behavioral sciences. We want to let them know we’re not only here, but we are here for them.”
As a result, Allen plans to offer health services to community members in an effort to answer public health needs for Delaware residents with the university’s Wesley College of Health and Behavioral Sciences, which includes nursing, occupational therapy, social work, kinesiology, psychology, and allied/public health programs and the Academy of Healing Trauma. The merger also added more than 60% of legacy Wesley faculty and staff members. Nearly 80% of legacy Wesley students chose to continue their education at Delaware State University and did not experience a significant reduction in tuition costs.
“He is a big Delaware guy and is a well-known Delawarean,” said Williams who hired Allen as provost in 2017. “He is supportive in the community. Tony is a likable person. “When people like you, good things happen for you, and it happens for the institution. That’s a quality that is contagious. That type of quality is important as a leader of a major university in a state that depends on the university as an economic engine for Delaware.”