News and Media
UNCF News and Media
FOR IMMEDIATE RELEASE
Tuesday, September 15, 2009
CONTACTS:
Joye Griffin@uncf.org
703-205-3480
joye.griffin@uncf.org
UNCF JOINS GOLDMAN SACHS 10,000 WOMEN INITIATIVE
FAIRFAX, Va. (September 15, 2009) UNCF--the United Negro College Fund--the nation's largest and most effective minority education organization, and Goldman Sachs have announced that they will partner to support the education of future business leaders through the UNCF-Goldman Sachs 10,000 Women Business Leadership Award Program. The UNCF-Goldman Sachs partnership enables African American women to receive scholarships and mentoring to support their career aspirations in the areas of business and entrepreneurship. The partnership will identify women attending eight historically black colleges and universities (HBCUs) including five UNCF member institutions--Bennett College, Clark Atlanta University, Dillard University, Spelman College, or Xavier University--as well as Hampton University, Howard University and North Carolina A&T State University.--
"UNCF is pleased to join the network of 10,000 Women partners" said UNCF president and CEO Michael L. Lomax, Ph.D. "This investment in the education of these promising young women not only helps them get the education they need and deserve, but is an investment in our next generation of business leaders."
The partnership offers both financial and professional development support. It will provide scholarships to support women in their junior and senior years. In addition, a Goldman Sachs mentor will be assigned to each Leadership Award recipient who will coach the young women on the leadership qualities they need to develop to succeed.
"This is a key piece of the 10,000 Women efforts in the United States," said Dina Habib Powell, managing director and Global Head of Corporate Engagement at Goldman Sachs. "We're happy to partner with UNCF, and to invest not only funds but the time and expertise of our people to educate talented young women who will play an important role in our economy."
In recent years, developing the leadership potential of African American women has become one of the top priorities of UNCF and its member colleges. Seventy percent of the students attending UNCF member institutions are women. And they can look for role models among UNCF's eleven women college presidents, who hold a percentage of presidencies that is almost half again as large as the percentage of women presidents at all colleges.
According to a December, 2008 report entitled the Catalyst Census of Women on Boards, of 15.2 percent of directorships held by women at Fortune 500 companies, only 3.2 percent are held by women of color.
Between 2002 and 2008, the number of firms owned by African American women increased by 19 percent - twice as fast as all other firms, according to the Center for Women's Business Research.
The UNCF-Goldman Sachs 10,000 Women Business Leadership Award Program is based on a model that has proved highly successful. Independent research has indicated that scholarship recipients who receive the kind of mentoring and other support that the UNCF-Goldman Sachs program will provide have higher graduation rates than students who receive only financial aid.
The program will award 31 scholarships over a two-year period. Among other criteria, candidates for the award must have a minimum grade point average of 3.0; a demonstrated interest in entrepreneurship or business; and demonstrated financial need. Interested students may visit www.uncf.org to apply-online or contact Annette Singletary, UNCF Program Services at 703-205-3490 for additional information. The deadline to apply is October 15, 2009.
About UNCF
UNCF--the United Negro College Fund--is the nation's largest and most effective minority education organization. To serve youth, the community and the nation, UNCF supports students' education and development through scholarships and other programs, strengthens its 39 member colleges and universities, and advocates for the importance of minority education. UNCF institutions and other historically black colleges and universities are highly effective, awarding 18 percent of African American baccalaureate degrees. UNCF administers more than 400 programs, including scholarship, internship and fellowship, mentoring, summer enrichment, and curriculum and faculty development programs. Today, UNCF supports more than 60,000 students at over 900 colleges and universities across the country. Its logo features the UNCF torch of leadership in education and its widely recognized motto, "A mind is a terrible thing to waste."® Learn more at www.UNCF.org.
About 10,000 Women
The Goldman Sachs 10,000 Women initiative has partnered with more than 50 universities and non-profit organizations in Africa, Asia, Europe, Latin America, the Middle East and the United States. It is designed to provide 10,000 women with a business and management education while also expanding the quality and capacity of business education around the world. The initiative is funded by Goldman Sachs and the Goldman Sachs Foundation. For further information on the 10,000 Women program, please visit www.10000women.org.
