In recognition of his lasting impact, several organizations have named awards in his honor, including the Beta Alpha Psi KPMG/Bernard J. Milano Lifetime Service Award, the Business School Engagement Collaborative Bernard J. Milano-Champion of Change Award, and the HBCU Business Deans’ Roundtable Bernard J. Milano Excellence Award.
Milano’s influence extended to national policy through his appointments to the President’s Board of Advisors on Black Colleges and Universities serving under two United States of America presidents. He holds honorary doctorates from North Carolina A&T State University, Kent State University, and William Paterson University.
Beyond his professional achievements, Milano has served on numerous nonprofit boards, including Beta Gamma Sigma, Points of Light Foundation, The National Episcopal Church Foundation and the CDC Foundation. His legacy continues to shape the future of business education, leadership, and diversity.