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  • Contents
  • Introduction
  • Impact
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  • Financials
  • Officers and Directors
  • Annual Report 2022
  • Financial Statement
  • Officers and Directors – Fiscal Year 2022
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  • Introduction
  • Directors’ Letter
  • Impact
  • Dr. George T. French, Jr.: A Man on a Mission
  • UNCF—More Historic Progress a Persistent Advocate for HBCUs
  • Drawing National Attention: UNCF Research Confirms HBCUs are a Solid Investment
  • UNCF partners with The Steve Fund to Support the Mental Health and Wellness
  • UNCF’s Target Scholars Program Supporting the Next Generation of Black Talent
  • Innovate
  • Changing Lives: The Motor City Delivers Virtually in 2021
  • Another Exceptional Year: UNCF’s Direct Response Fundraising Program Charges Ahead
  • “Imparting Wisdom”—and Extending Lessons from HBCUs to K-12 Schools in Indianapolis
  • UNCF Lighting Pathways: Inspiring HBCU Students to Achieve Better Futures in Asset Management
  • The UNCF National Faith and Education Initiative: Fanning the Flame that Started it All
  • Inspire
  • Understanding Why HBCUs: A Fireside Chat with NBA All-Star and HBCU Supporter Chris Paul
  • Look out America! Here comes Aspiring Journalist Caylin Carter
  • John and Sally Davenport: Legacy UNCF Donors Investing in HBCUs to Achieve a Better Future for America
  • UNCF National Virtual Walk for Education® Raises $2.3M+ for HBCUs
  • Volunteers Leading the way to Champion UNCF and HBCU Missions
  • Invest
  • Donating While You Shop: Burlington Raised More than $2M from its Customers for UNCF
  • Through “Black History, Black Brilliance,” Macy’s Raises nearly $1.4M for Scholarships
  • UNCF and Edward Waters University host Inaugural Jacksonville Mayor’s Masked Ball
  • The Church of Jesus Christ of Latter-day Saints Contributes $3M to Fund Scholarships for Black Students
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UNCF Abstract Flame Icon Annual Report Image Background

INNOVATE

UNCF Lighting Pathways: Inspiring HBCU Students to Achieve Better Futures in Asset Management

Woman Waving at Graduation

During FY 2022, UNCF hosted a summit to increase the number of African Americans in asset management.

According to The American College and the Certified Financial Planners (CFP) Board, African Americans only make up 5% of financial advisors and 2% of certified planners, even though African Americans represent 13.4% of the U.S. population.

To address the disparity and lack of Black talent in asset management, UNCF launched the UNCF Lighted Pathways initiative providing scholarships and internships to African American undergraduate students interested in the investment management industry. In partnership with the CFA Society of Boston and nearly 30 investment management firms in Massachusetts, UNCF Lighted Pathways aims to create a career pathway to attract, develop and retain Black talent for the asset management industry.

Keon Holmes, CFA, managing director, Cambridge Associates, and co-chair for UNCF New England’s Leadership Council said, “African Americans make up less than 2% of all asset management roles in our country. We need to do better. We will never eliminate the wealth gap for African Americans unless we have more professionals in the industry that can positively impact their communities.”

The Lighted Pathways Program began with a summer series of informational classes for students to learn more about the industry and the importance of asset management in everyday life. More than 500 students enrolled in the program with an incentive of receiving one of 37 $5,000 scholarships to be awarded or one of 30 paid internships with the additional coverage for travel and housing in Boston for the summer of 2022.

Highlighting the Lighted Pathways initiative in FY 2022, UNCF hosted a virtual summit for college students of color interested in asset management that featured a keynote fireside chat session moderated by Dr. Mary Schmidt Campbell, then-president, Spelman College, with panelists Thasunda Brown Duckett, president and chief executive officer, TIAA, and Ryan Williams, co-founder and chief executive officer, Cadre.

Sponsors for UNCF’s Lighted Pathways Program include presenting sponsors, Adage Capital Management, LP, Baupost, Fidelity and Wellington Management; champion sponsors, Abry Partners, Morgan Stanley/Eaton Vance and State Street; corporate partners, Breckinridge Capital Advisors, Cambridge Associates, Citizens Bank, Forester Capital, GMO, Income Research + Management, JLL, JP Morgan Chase, Payden & Rygel, RBC Global Asset Management and Sentinel Dome Partners; and corporate supporters, Acadian Asset Management, Boston Trust Walden, Cambridge Trust, CIBC Wealth Management, Eastern Bank, Geode Capital, Loomis, Sayles & Company, MFS Investment Management, MIT Investment Management, Prime Buchholz, LLC, and Westfield Capital Management, LP.

Through the Lighted Pathways Program, UNCF inspires, educates and empowers young people by supporting personal and professional development, driving company performance and providing the asset management industry the talent they need to meet today’s challenges and tomorrow’s opportunities.

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Also of Interest
  • About the UNCF Lighted Pathways Program
  • UNCF Reports
  • African Americans in Asset Management