United Negro College Fund Inc is located in Washington, DC. The organization was established in 2004. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. As of 03/2024, United Negro College Fund Inc employed 352 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. United Negro College Fund Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 03/2024, United Negro College Fund Inc generated $250.9m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.0% each year. All expenses for the organization totaled $195.0m during the year ending 03/2024. While expenses have increased by 1.0% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, United Negro College Fund Inc has awarded 404 individual grants totaling $701,581,240. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2024
Describe the Organization's Mission:
Part 3 - Line 1
TO ENSURE ALL AMERICANS HAVE EQUAL ACCESS TO A COLLEGE EDUCATION THAT PREPARES (SEE SCHEDULE O) THEM FOR RICH INTELLECTUAL LIVES, COMPETITIVE AND FULFILLING CAREERS, ENGAGED CITIZENSHIP AND SERVICE TO OUR NATION.UNCF HAS HELPED MORE THAN 500,000 STUDENTS EARN THEIR COLLEGE DEGREES SINCE ITS FOUNDING IN 1944. UNCF IS THE NATION'S LARGEST PRIVATE SCHOLARSHIP PROVIDER TO MINORITY GROUP MEMBERS. EACH YEAR, WE AWARD MORE THAN $100 MILLION IN SCHOLARSHIPS TO STUDENTS ATTENDING MORE THAN 1,100 SCHOOLS ACROSS THE COUNTRY, INCLUDING OUR PRESTIGIOUS NETWORK OF 37 MEMBER HBCUS. UNCF MEMBER HBCUS ARE KNOWN FOR THEIR ACHIEVEMENTS - AWARDING UNDERGRADUATE AND GRADUATED DEGREES - PROVIDING IMPRESSIVE RESULTS THROUGH RESEARCH AND PROMOTING ECONOMIC BENEFITS THAT YIELD MAJOR IMPACT FOR THEIR COMMUNITIES, REGIONS, STATES, THE NATION, AND THE WORLD.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DIRECT PROGRAM EXPENDITURES RELATED TO DISBURSEMENTS OF SCHOLARSHIPS AND COSTS FOR EVALUATING ELIGIBILITY FOR SCHOLARSHIPS AND EXPENSES ASSOCIATED WITH PROVIDING TECHNICAL ASSISTANCE TO MEMBER SCHOOLS AND OTHER INSTITUTIONS.THE WORK OF UNCF'S GROWING PORTFOLIO OF SCHOLARSHIP PROGRAMS IS UNRIVALED AND INCLUDES A VARIETY OF SCHOLARSHIP PROGRAMS MANAGED BY UNCF, SUCH AS THE FUND II FOUNDATION UNCF STEM SCHOLARS PROGRAM, UNCF/KOCH SCHOLARS PROGRAM, K-12 EDUCATION FELLOWSHIP AND THE FREDERICK DOUGLASS BICENTENNIAL SCHOLARSHIP PROGRAM. THE PANDA CARES SCHOLARS PROGRAM HAS EXPANDED TO A THREE-YEAR RENEWABLE SCHOLARSHIP AWARD, AND THE FUND II STEM SCHOLARS PROGRAM COMPLETED ITS THIRD (SEE SCHEDULE O)COHORT, CONTINUING TO BUILD ON AN IMPRESSIVE RECORD OF STUDENT OUTCOMES. THE WALTON FELLOWS PROGRAM, AN EDUCATIONAL REFORM PROGRAM AIMED AT HELPING INFORM NEW EDUCATORS ON HOW TO IMPROVE THE K-12 EDUCATION SYSTEM FROM THE INSIDE OUT, CELEBRATED ITS 10TH YEAR. TOGETHER, THESE UNCF SCHOLARSHIP AND STUDENT PROFESSIONAL DEVELOPMENT (INTERNSHIP) PROGRAMS AS WELL AS DOZENS OF OTHER SCHOLARSHIPS, INTERNSHIPS, FELLOWSHIPS AND FACULTY DEVELOPMENT OPPORTUNITIES ADD UP TO SOME OF THE NEWEST, BEST, AND STRONGEST OFFERINGS UNCF HAS FOR STUDENTS AND EDUCATORS, WITH MUCH MORE TO COME. HELPING YOUNG PEOPLE, ESPECIALLY AFRICAN AMERICAN AND OTHER MINORITY STUDENTS, GET AN EDUCATION THAT STARTS ON THE FIRST DAY OF PRESCHOOL AND DOESN'T END UNTIL COLLEGE GRADUATION IS WHAT UNCF IS ALL ABOUT. A THREE-PILLAR STRATEGY GUIDES OUR MISSION: POSITIONING MEMBER INSTITUTIONS AS A VIABLE COLLEGE OPTION FOR STUDENTS AND INVESTING IN INSTITUTIONAL CAPACITY TO IMPROVE STUDENT OUTCOMES; CREATING TRANSFORMATIONAL SUPPORT PROGRAMS TO ENSURE STUDENTS ARE ENROLLING AND PERSISTING THROUGH COLLEGE COMPLETION; BUILDING AWARENESS OF EDUCATIONAL ATTAINMENT AND CULTIVATING COLLEGE-GOING BEHAVIORS WITHIN THE AFRICAN AMERICAN COMMUNITY. THE ONGOING RAPID RISE IN THE COST OF COLLEGE ATTENDANCE, THE INABILITY TO EARN FUNDS DURING THE COVID-19 PANDEMIC AND DECREASING FINANCIAL AID HAVE CAUSED MORE AND MORE STUDENTS TO APPLY TO UNCF FOR ASSISTANCE EACH YEAR. HOWEVER, WE CAN SUPPORT ONLY ONE OUT OF EVERY 10 STUDENTS WHO APPLIES. THESE STUDENTS ARE OUR FUTURE HEALTH PROFESSIONALS, SOCIAL WORKERS, TEACHERS, GOVERNMENT POLICY MAKERS, ENTREPRENEURS, BUSINESS LEADERS AND MILITARY MEN AND WOMEN - THEY ARE THE FUTURE PROSPERITY OF OUR NATION. WE THANK ALL DONORS, PAST AND CURRENT FOR THEIR FINANCIAL CONTRIBUTIONS AND VOLUNTEERISM AND HOPE NEW DONORS ARE INSPIRED TO SUPPORT UNCF'S WORTHY MISSION BY GIVING AS DEEPLY AS POSSIBLE BECAUSE "A MIND IS A TERRIBLE THING TO WASTE, BUT A WONDERFUL THING TO INVEST IN."
INSTITUTIONAL SERVICES PROVIDED TO MEMBER INSTITUTIONS OF UNCF AND OTHER PROGRAM SERVICES.
THE GATES MILLENNIUM SCHOLARS PROGRAM (GMSP) COVERS COST OF EDUCATION TO SUPPORT UNDERGRADUATE PROGRAMS FOR OUTSTANDING STUDENTS OF COLOR WITH SIGNIFICANT FINANCIAL NEED, AND THE COSTS THROUGH DOCTORAL DEGREES IN SEVEN TARGET DISCIPLINES FOR STUDENTS SELECTED AS GATES MILLENNIUM SCHOLARS. GMSP, THE MOST EXTENSIVE PROGRAM IN UNCF'S HISTORY, WAS AWARDED IN 1999 BY THE BILL AND MELINDA GATES FOUNDATION FOR $1.6 BILLION. THS 20-YEAR PROGRAM SUNSETS IN 2029.
DISTRIBUTIONS TO MEMBER INSTITUTIONS OF UNCF.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Dr Michael L Lomax President & CEO | Officer | 50 | $924,674 |
Mr Early Reese COO | Officer | 50 | $765,813 |
Mr Maurice E Jenkins Jr Evp & Chief Development Officer | Officer | 50 | $457,936 |
Ms Lajuan Lyles Svp, Hr & Administration | Officer | 50 | $396,114 |
Mr Lawrence Griffith Jr Svp, Scholarships & Program | Officer | 50 | $395,182 |
Mr Lodriguez Murray Vp. Government Affairs | 50 | $335,106 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Strada Collaborative Inc Dba Inside Trac Educational Coaching | 3/30/24 | $3,772,720 |
Rr Donnelley & Sons Co Mgmt Consultants | 3/30/24 | $4,414,641 |
Deloitte Consulting Llp Mgmt Consultants | 3/30/24 | $9,669,000 |
Mckinsey And Company Inc Mgmt Consultants | 3/30/24 | $2,350,635 |
Cordis Stanfield Dba Brickroad Llc Tech Consulting | 3/30/24 | $1,134,000 |
Statement of Revenue | |
---|---|
Federated campaigns | $513,020 |
Membership dues | $0 |
Fundraising events | $13,911,880 |
Related organizations | $0 |
Government grants | $0 |
All other contributions, gifts, grants, and similar amounts not included above | $211,879,198 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $226,304,098 |
Total Program Service Revenue | $9,200 |
Investment income | $22,543,257 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $2,078,619 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $250,935,174 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $78,049,637 |
Grants and other assistance to domestic individuals. | $21,591,447 |
Grants and other assistance to Foreign Orgs/Individuals | $0 |
Benefits paid to or for members | $0 |
Compensation of current officers, directors, key employees. | $3,372,000 |
Compensation of current officers, directors, key employees. | $3,372,000 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $27,666,053 |
Pension plan accruals and contributions | $1,285,156 |
Other employee benefits | $4,481,695 |
Payroll taxes | $2,244,053 |
Fees for services: Management | $23,731,167 |
Fees for services: Legal | $391,718 |
Fees for services: Accounting | $355,720 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $24,000 |
Fees for services: Investment Management | $681,890 |
Fees for services: Other | $0 |
Advertising and promotion | $592,734 |
Office expenses | $7,309,825 |
Information technology | -$98,604 |
Royalties | $0 |
Occupancy | $2,307,073 |
Travel | $3,965,692 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $3,212,124 |
Interest | $906,503 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $1,048,570 |
Insurance | $237,404 |
All other expenses | $0 |
Total functional expenses | $195,036,675 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $39,298,929 |
Savings and temporary cash investments | $268,139,755 |
Pledges and grants receivable | $245,275,339 |
Accounts receivable, net | $0 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $0 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $0 |
Net Land, buildings, and equipment | $32,037,790 |
Investments—publicly traded securities | $115,569,646 |
Investments—other securities | $200,608,316 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $16,098,010 |
Total assets | $917,027,785 |
Accounts payable and accrued expenses | $24,242,581 |
Grants payable | $0 |
Deferred revenue | $4,276,524 |
Tax-exempt bond liabilities | $23,326,218 |
Escrow or custodial account liability | $0 |
Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
Secured mortgages and notes payable | $0 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $15,723,051 |
Total liabilities | $67,568,374 |
Net assets without donor restrictions | $57,862,436 |
Net assets with donor restrictions | $791,596,975 |
Capital stock or trust principal, or current funds | $0 |
Paid-in or capital surplus, or land, building, or equipment fund | $0 |
Retained earnings, endowment, accumulated income, or other funds | $0 |
Total liabilities and net assets/fund balances | $917,027,785 |
Over the last fiscal year, United Negro College Fund Inc has awarded $64,733,996 in support to 40 organizations.
Grant Recipient | Amount |
---|---|
ALLEN UNIVERSITY PURPOSE: GRANTS & SCHOLARSHIPS, AREA OFFICE JOINT CAMPAIGN | $825,232 |
BENEDICT COLLEGE PURPOSE: GRANTS & SCHOLARSHIPS, AREA OFFICE JOINT CAMPAIGN | $1,528,951 |
BENNETT COLLEGE FOR WOMEN PURPOSE: GRANTS & SCHOLARSHIPS, AREA OFFICE JOINT CAMPAIGN | $823,129 |
BETHUNE-COOKMAN UNIVERSITY PURPOSE: GRANTS & SCHOLARSHIPS, AREA OFFICE JOINT CAMPAIGN | $1,410,931 |
CLAFLIN UNIVERSITY PURPOSE: GRANTS & SCHOLARSHIPS, AREA OFFICE JOINT CAMPAIGN | $1,412,276 |
CLARK ATLANTA UNIVERSITY PURPOSE: GRANTS & SCHOLARSHIPS, TECH ASSIST, AREA OFFICE JOINT CAMPAIGN | $3,102,842 |