This study addressed the issue of retention rates among the nation's private, not-for-profit, baccalaureate degree-granting Historically Black Colleges and Universities. In doing so, it examined the potential presence of relationships among revenue sources and retention rates. In order to conduct a comprehensive research study, the following theoretical frameworks were used to frame as an organizing model for the study: Pfeffer and Salancik's (1978) Resource Dependence Theory and Tinto's (1975) Model of Student Retention. To date, studies devoted to examining the retention and graduation rates as they pertain to HBCUs are scarce (Betsey, 2008). The central problem addressed in this study is revenue sources at private HBCUs and the relationship to student retention over a 6-year period beginning with 2010 revenue sources and retention rates (2010-2015). Findings from the study indicate that there is a correlation with private gifts and endowment assets and the relationship with retention. [The dissertation citations contained here are published with the permission of ProQuest LLC. Further reproduction is prohibited without permission. Copies of dissertations may be obtained by Telephone (800) 1-800-521-0600. Web page: http://bibliotheek.ehb.be:2222/en-US/products/dissertations/individuals.shtml.]