Annual Report 2023

Our Momentum toward Growth Continues

Welcome to UNCF’s 2023 fiscal year Annual Report. We are thrilled to report that UNCF had a record-breaking performance. Our fundraising total gifts exceeded $360 million—a record for total donations in a single fiscal year in UNCF’s history. Over the past three years, UNCF has raised more than $800 million to support HBCUs and the students they serve through scholarships, emergency student aid, scholarship endowments and capacity building for UNCF-member institutions.

READ THE LETTER

Milton H. Jones, Jr.
Board Chair, UNCF

Michael L. Lomax, Ph.D.
President and CEO UNCF

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Impact

“Fidelity’s extraordinary gift will encourage other corporate leaders to get involved and show their commitment for the education of bright, promising student scholars who simply need the financial resources and support services to achieve their college and career aspirations.”
— Milton H. Jones, Jr., chairman, UNCF Board of Directors

Fidelity Investments Changes the Landscape for Students of Color

FY23 was quite an impactful year for UNCF—the organization received its largest philanthropic corporate gift ever from Boston-based financial services leader Fidelity Investments, launching the Fidelity Scholars Program.

NCF's Justin Bailey and Kelvin Harris speak with North Carolina scholars

Dr. Jan Collins Eaglin speaking to audience

Healthy Minds are a Priority: Promoting Mental Health and Wellness of Black College Students

The ongoing pandemic and heightened racial tensions across the United States intensified the urgency of increasing the reach and impact of mental health programming to support the mental health and well-being of students, faculty and staff at HBCUs and predominantly Black institutions (PBIs).

Wakanda Forever!!! HBCUs Forever!!!

Sometimes you can’t see the forest for the trees. How many times have we heard that adage? The world was introduced to the mythical country Wakanda in the original “Black Panther” movie, starring award-winning actor and Howard University alum, Chadwick Boseman.

50k+

students attend UNCF-member HBCUs for the education they need and deserve

How We Make a Difference

$ M+

in scholarships is awarded annually

Our Reach is Far and Wide

Member Colleges Scholarships Fundraising Events Local Offices

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US Map showing UNCF Member College Locations

37

Historically Black colleges and universities are UNCF-member institutions. UNCF provides these colleges and universities with a range of support that enables them to keep their academic programs strong and their tuitions affordable.

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US Map showing number of scholarships received

10,535

Students received scholarships during fiscal year 2023 across the United States from UNCF.

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US Map showing number of fundraising events were conducted during fiscal year 2023

82

Fundraising events were conducted during fiscal year 2023 to help UNCF support its mission of getting as many students to and through college as possible.

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US Map showing locations of UNCF local offices

23

UNCF local offices are located throughout the United States, which help provide organizational fundraising support, mission awareness and HBCU representation in local communities across the country.

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Innovate

“What we learned from the pandemic was that better training isn’t enough. We need better tools and technology to deliver on the rich instruction and the strong culture of America’s HBCUs and extend this transformative experience for students online.”
— Dr. Shawna Acker-Ball, vice president, UNCF Programs

Changing Lives

The HBCU Effect is Real

For nearly two centuries, historically Black colleges and universities (HBCUs) have consistently punched above their weight against near insurmountable odds to prepare America’s Black scholars and other students of color to enter society with a comprehensive education.

Bar chart comparing income of first-generation and non-first-generation students 10 years after HBCU graduation. The income levels are on par at $71K. Text highlights this fact on the right.

UNCF invests in students by providing

12,000+

scholarships every year

Two people wear matching "HBCU" shirts while walking outside on a pathway surrounded by greenery.

UNCF Reimagines Online Education with HBCUv™ Platform

The COVID-19 pandemic and related need for social distancing created unprecedented challenges for higher education institutions of all stripes, but it had a particularly pronounced impact on HBCUs.

An image of a man and woman walking together in an airport, carrying bags.

UNCF and EA Madden Scholars Aiming to Take Gaming Industry to Next Level

A collaboration that began during the pandemic blossomed in fiscal year 2023. UNCF and renowned video game publisher EA Madden created a scholarship program in 2020 with the aim of supporting and empowering aspiring students interested in pursuing careers in the gaming industry.

Inspiring Transformative Change in K-12 Education

During of the 2022 New Schools for Alabama (NFSA) Conference, UNCF took center stage with an initiative aimed at reshaping the future of education in Alabama. The initiative, fueled by a commitment to address systemic issues and forge innovative solutions, was a testament to UNCF's unwavering dedication to historically Black colleges and universities (HBCUs) and the broader landscape of education.

Inspire

“Our smallness is our strength. It allows us to be nimble and flexible. Bennett College was not built for more than about 840 students. We’ll never be in the 5,000-student place. This is who we are, and we are proud of it.”
— Suzanne Walsh, president, Bennett College

Why I Serve

Dr. Blondean Davis, a Visionary Educator with a Passion for UNCF and HBCUs

When you think of making a difference for Black students, those who serve in the education field truly change lives. For decades, Chicago-based educator Dr. Blondean Y. Davis has raised money to support the work of UNCF and students of color to fulfill their dreams of attending college.

Bennett College students celebrate its 150th anniversary during 2023. (the group shot)

Bennett College is Preparing Women of Color to Lead with Purpose, Integrity and a Strong Sense of Self-Worth

UNCF-member Bennett College is one of only two all-women historically Black colleges and universities (HBCUs) in the country and one of UNCF’s 37 member institutions. Founded in 1873 by formerly enslaved individuals, Bennett transitioned into a women's college in 1926 and is one of just 29 women's colleges in the United States.

HBCUs produce

20%

of all African American college graduates

MC Lyte performing 2022 Houston UNCF Gala

Hip Hop Raised more than a Half-Million Dollars in Houston to support HBCU Students

The 2022 Houston UNCF “A Mind is…” Gala was a truly epic statement for many reasons for the organization’s annual development efforts. The in-person fundraiser raised a substantial near-$600,000 sum, returning to being a live event for the first time since 2019—and pulled it off with a “hip” flip on traditional UNCF fundraising galas by wrapping it all in hip hop music.

Invest

“Students represent the best of the human spirit. When all students have an equal chance to succeed, their dreams become realities and inspire us all.”
— Ralph Lauren, executive chairman and chief creative officer, Ralph Lauren

UNCF and Gray Foundation Partnership Provides a Pathway for More New York City Students to Attend HBCUs

In January 2023, UNCF partnered with the Gray Foundation to launch the UNCF Gray NYC Scholars Program. The program provides scholarships and wraparound supports to help underrepresented New York City students from low-income backgrounds attend and earn their degrees at historically Black colleges and universities.

The Gray Foundation welcomes the newest Gray NYC Scholars at a reception

UNCF.org serves

2M+

visitors each year

UNCF, Thurgood Marshall College Fund and Partnership for Education Advancement Announce Historic Collaboration to Improve Socioeconomic Outcomes for Black Communities

UNCF, Thurgood Marshall College Fund (TMCF) and the Partnership for Education Advancement launched a landmark collaboration recently to drive tangible, long-term progress across historically Black colleges and universities (HBCUs) and impact the Black economy.

Ralph Lauren Pin of Solidarity on corduroy jacked

Ralph Lauren Corporation and The Ralph Lauren Corporate Foundation Help Light the Way for HBCUs Students

Both the Ralph Lauren Corporation and The Ralph Lauren Corporate Foundation maintain a strong partnership with UNCF, empowering students of color to pursue and earn their college degrees at HBCUs.

“The Fidelity Scholars Program is exemplary, innovative and demonstrates the company’s commitment to provide equal educational opportunities for low-income and underrepresented students who do not have the advantages of other students.”
– Dr. Michael L. Lomax, president and CEO, UNCF

Financial Highlights

Charitable Income

Assets and Liabilities

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Officers and Directors

The men and women who guide the actions of the organization are a diverse group of people, and with their help, the organization ensures as many students as possible make it to and through college successfully.

MEET THE BOARD

Our Mission

UNCF envisions a nation where all Americans have equal access to a college education that prepares them for rich intellectual lives, competitive and fulfilling careers, engaged citizenship and service to our nation.

UNCF’s mission is to build a robust and nationally recognized pipeline of underrepresented 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’s North Star is 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 persist to graduation. This is done through a three-pillar strategy:

• 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 that students are enrolling and persisting through college completion.

• Building awareness of educational attainment and cultivating college-going behaviors within the African American community.

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