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Year, State Incorporated
1944, NY
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Also Known As
United Negro College Fund
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Stated Purpose
"to build a robust and nationally-recognized pipeline of under-represented students, who, because of UNCF support, become highly-qualified college graduates and to ensure that our network of member institutions is a respected model of best practices in moving students to and through college."
UNCF reports that it works to increase the total annual number of African American college graduates by focusing on activities that ensure more students are college-ready, enroll in college, and graduate. In 2018, the organization states that it awarded 10,000 scholarships under 400 programs for students from low and moderate income families. In addition, UNCF reports that it directly supported 37 member historically black colleges and universities (HBCUs)
for scholarships and capacity building.
For the year ended March 31, 2019, UNCF's program expenses were:
GMSP |
$81,511,729 |
Scholarships and special projects |
$41,528,867 |
Distributions to member institutions |
$14,565,561 |
Institutional services |
$1,885,649 |
Other program services |
$705,423 |
Total Program Expenses: |
$140,197,229 |
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Chief Executive
Michael Lomax, Ph.D, President and Chief Executive Officer
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Compensation*
$838,291
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Chair of the Board
William Stasior
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Chair's Profession / Business Affiliation
Retired, Accountant
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Board Size
31
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Paid Staff Size
183
*2018 compensation includes annual salary and, if applicable, benefit plans, expense accounts, and other allowances.
Method(s) Used:
Direct mail appeals, Grant proposals, Internet, Invitations to fund raising events, Planned giving arrangements, Cause- related marketing (affinity credit cards, consumer product sales, etc.)
Fundraising costs were 22% of related contributions. (Related contributions, which totaled $61,698,525 are donations received as a result of fundraising activities.)
This organization is tax-exempt under section 501(c) (3) of the Internal Revenue Code.It is eligible to receive contributions deductible as charitable donations for federal income tax purposes.
The following information is based on UNCF's audited financial statements for the year ended March 31, 2019.
Source of Funds |
Contributions and gifts |
$33,087,698 |
Contributions for grants and scholarships |
$22,984,325 |
Interest and dividends |
$11,635,484 |
Bequests and legacies |
$4,714,269 |
Realized and unrealized gains on investments, net |
$4,457,696 |
In-kind contributions |
$912,233 |
Total Income |
$77,791,705 |
- Programs: 89%
- Fundraising: 8%
- Administrative: 3%
Total Income |
$77,791,705 |
Program expenses |
$140,197,229 |
Fundraising expenses |
$13,409,856 |
Administrative expenses |
$5,493,407 |
Other expenses |
$0 |
Total expenses: |
$159,100,492 |
Income in Excess of Expenses |
$-81,308,787 |
Beginning Net Assets |
$637,253,512 |
Other Changes In Net Assets |
$2,311,670 |
Ending Net Assets |
$558,256,395 |
Total Liabilities |
$45,872,685 |
Total Assets |
$604,129,080 |
Note 1: As noted in the above financial section, "other changes in net assets" refers to amoritization of investment premium and discount.
Note 2: According to UNCF's audited financial statements for the year ended March 31, 2019, the organization received $912,223 in contributed advertising, mailing, and marketing services.