Annual Report 2025

Our Momentum Toward Growth Continues

We are proud to share UNCF’s fiscal year 2025 annual report and invite you to read stories about our impact—made possible by the investments of donors and partners like you.

The report reveals UNCF’s unparalleled position of strength. We are 81 years young and moving forward by pursuing aspirational goals with the ultimate goal of transformation.

The fiscal year was marked by significant milestones that we are celebrating while seeking to accelerate progress.

We strengthened the financial foundation of our organization. Since 2020, UNCF has raised more than $1.3 billion. In fact, revenue exceeded our targets every year for the past five years, and we expect it to do so again this year. As a result, UNCF’s endowment now stands at $467 million—and we expect to have approximately $500 million under management by the end of this fiscal year.

However, we are more than a fundraising organization. We are also focused on building the infrastructure, partnerships and capabilities that will fundamentally change how our member institutions deliver a quality education to their students. We are moving from helping institutions to survive to ensuring they thrive. And we continued that momentum in fiscal year 2025.

READ THE LETTER

Milton H. Jones, Jr.
Board Chair, UNCF

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

READ THE LETTER

Impact

“HBCUs provide a holistic well-being among HBCU students. Even with fewer resources than our peers, these institutions create environments where students are affirmed and celebrated, fostering remarkable mental resilience despite significant socioeconomic challenges.”
— Dr. Michael L. Lomax, president and CEO, UNCF

Transforming Futures

HBCU Economic Impact Report Reveals Universities’ Unmatched Contributions, Urgent Funding Needs

UNCF’s 2024 HBCU economic impact report, Transforming Futures: The Economic Engines of HBCUs, commissioned by UNCF’s Frederick D. Patterson Research Institute, is a comprehensive, data-driven analysis highlighting the substantial contributions the nation’s 101 historically Black colleges and universities (HBCUs) provide for their students, local communities and the nation at large.

A group of young adults smiling and laughing together outdoors, with text overlay that reads "Transforming Futures: The Economic Engine of HBCUs."

A proud graduate in a cap and gown is embraced by two smiling adults, with the text "BELIEVE US: Centering African American Parent Voices in K-12 Education" prominently displayed above them.

Groundbreaking UNCF Study Highlights Importance of Black Teachers

As the country celebrated Teacher Appreciation Week in fiscal year 2025, UNCF released a groundbreaking study that provides invaluable insights into the perspectives of African American parents on key issues in education and highlights the importance of Black teachers to Black families.

More than

50K

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

Two women sit and talk on stage in front of a large screen displaying the word "UNITE" and an image of a library. A small table with water bottles is between them.

New Research from UNCF, Healthy Minds Network Shows Strong Mental Health Outcomes Among HBCU Students

UNCF released groundbreaking research in FY25 that shows students at historically Black colleges and universities (HBCUs) demonstrate significantly stronger student mental health statistics compared to their peers nationally, despite facing greater financial stressors and barriers to mental health services.

A young woman looks into the distance. Text overlay reads: The Heart Work of Hard Work: Black Teacher Pipeline Best Practices at HBCU Teacher Education Programs.

UNCF Report Highlights HBCUs’ Role in Strengthening the Black Teacher Pipeline

In fiscal year 2025, UNCF released a special report highlighting historically Black colleges and universities (HBCUs) as key producers of teachers for America’s public education system.

Biden Administration Announces Big Investment Totals for HBCUs

During the Biden-Harris Administration’s three-plus years in office, historically Black colleges and universities (HBCUs) received over $16 billion in investments. This investment in HBCU funding included resources received from their COVID-19 American Rescue Plan (ARP) law and other routine, annual investments like the Education Department’s Strengthening HBCUs program and Pell Grant programs.

How We Make a Difference

$ M+

in scholarships is awarded annually

Our Reach is Far and Wide

+ SHOW STAT

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.

- HIDE

+ SHOW STAT

10,885

Students received scholarships during fiscal year 2025 across the United States from UNCF.

- HIDE

+ SHOW STAT

72

Fundraising events were conducted during fiscal year 2025 to help UNCF support its mission of getting as many students to and through college as possible.

- HIDE

+ SHOW STAT

US Map showing locations of UNCF local offices

23

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

- HIDE

Innovate

“With UNCF’s support, we aim to build a model that can expand to other HBCUs and attract additional investment while scaling to other HBCUs across the country.”
— Phil Gross, Co-Founder and Managing Director, Adage Capital Management

UNCF: Light the Way

UNCF Launches Historic PSA Campaign

In fiscal year 2025, UNCF unveiled a new video public service announcement (PSA) campaign reinforcing its iconic message that “A mind is a terrible thing to waste.”®

The public service announcement (PSA) campaign called “Light the Way” symbolizes UNCF’s legacy. For more than 80 years, UNCF has helped talented, deserving students get to and through college successfully.

UNCF invests in students by providing nearly

11,000

scholarships every year

Left to right: Phill Gross, co-founder and managing director, Adage Capital Management, Kimberly Godwin, former president, ABC News and career journalist, Mellody Hobson, co-CEO and president, Ariel Investments and Dr. Michael L. Lomax, president and CEO, UNCF, discussed advancing Black wealth and economic mobility at Martha’s Vineyard in August 2024.

Project ACCLAIM Launches to Strengthen HBCU Students’ Pathways into Financial Services

In fiscal year 2025, UNCF launched Project ACCLAIM (Accelerating Learning in Asset Investment Management), a groundbreaking initiative that aims to cultivate a pipeline of students from historically Black colleges and universities (HBCUs) entering the financial services sector. The program debuted in fall 2025 at Morehouse College and Howard University with support from a $10 million gift from Adage Capital Management and philanthropists Elizabeth and Phill Gross.

Robert Kraft, chairman and CEO of the Kraft Group and founder Blue Square Alliance Against Hate (second from left) is joined by UNCF president and CEO Dr. Michael L. Lomax, UNCF Board Chair Milton H. Jones Jr. and Clark Atlanta University president and Chair of UNCF’s Board of Institutional Directors Dr. George T. French Jr.

Robert Kraft Donates $1 Million to Support New UNCF Initiative Combating Hate and Bigotry

Robert Kraft, chairman and CEO of the Kraft Group and founder of the Blue Square Alliance Against Hate (formerly the Foundation to Combat Antisemitism), made a $1 million donation to UNCF in fiscal year 2025 to establish the Tikkun Olam Initiative. The gift supports educational initiatives that promote unity and strengthen partnerships between Black and Jewish students attending historically Black colleges and universities (HBCUs) and other colleges and universities.

Innovations at HBCUs: Spotlighting Groundbreaking Research and Achievements

Historically Black colleges and universities (HBCUs) have long been pillars of academic excellence and cultural significance. From fostering influential leaders to advancing social justice, HBCUs have consistently led the way in driving progress.

Inspire

“Home wasn’t an option because I didn’t have a home anymore. So God opened the door for Stillman College. God put me in touch with UNCF. When I arrived at Stillman, I didn’t have to pay anything. Scholarships covered everything. I’m grateful for all [UNCF has] done because without you, my future would have been in jeopardy. Thanks to UNCF, it isn’t.”
— Jerimee Demetrius Moore, junior, Stillman College

UNCF SCHOLAR: Tori Jarrett

Children’s Book Author and STEM Nonprofit Founder Supported by UNCF Scholarship

Tori Jarrett is a junior at Spelman College, a UNCF-member institution, the founder of a STEM nonprofit that introduces young girls to science and engineering and a published children’s book author.

Tori Jarrett wears a white dress, white hoop earrings, and smiles at the camera.

The UNCF Student Leadership Conference is an immersive, high-impact professional development experience designed to prepare students for success in the workplace. Rising juniors, seniors and entry-level hires from colleges and universities nationwide, including HBCUs, gained the skills, confidence and career readiness needed to excel in their summer internships and early careers through intensive simulations and coaching from senior business and nonprofit leaders.

UNCF Student Leadership Conference: Donor Support Enables Students to Lead and Succeed

What does it take for a student to thrive in today’s competitive economy? Experience and opportunity.

HBCUs produce

20%

of all African American college graduates

Under former President Biden’s Build Back Better initiative, Livingstone College received $1 million in biomanufacturing equipment. This investment enables the college to provide comprehensive job training through a new biomanufacturing hub and empower underprivileged communities.

A Banner Year for Livingstone College: New Grants and Equipment Improving UNCF-Member Institution

 Livingstone College, one of UNCF’s member institutions located in Salisbury, NC, has recently strengthened its position as a center of innovation and opportunity.

Rising from the Ashes: UNCF's Lifeline Amidst the LA Wildfires

In the summer of 2025, the city of Los Angeles found itself engulfed in flames as wildfires raged through communities, leaving destruction in their wake. The devastation was felt not only in the loss of homes and businesses but also in the disruption of education for students. In the face of this crisis, UNCF stepped in to provide emergency funding and support.

Better Futures for Target Scholars: How the Program Changes Student Lives

The Target Scholars Program, a transformative collaboration between Target and UNCF, has profoundly impacted students attending historically Black colleges and universities. Offering more than just financial aid, the program creates a community of support, mentorship and lasting connections that help students thrive. Many student stories highlight just how powerful this opportunity has been.

Invest

“From aunts and uncles to cousins, HBCUs have played a huge role in shaping who we are. Supporting UNCF in creating opportunities for student-athletes in tennis means a lot to me.”
— Coco Gauff, tennis champion

UNCF INVEST

$600M from Bloomberg Philanthropies Supports Four Historically Black Medical Schools to Train Next Generation of Doctors

Fiscal Year 2025 proved lucrative for four historically Black medical schools. Charles R. Drew University of Medicine & Science, Howard University College of Medicine, Meharry Medical College and Morehouse School of Medicine collectively received $600 million from Bloomberg Philanthropies to help stem the rising costs of tuition and operations and to strengthen their capacity to train future generations of doctors.

Bloomberg Philanthropies announces the largest-ever gift to the nation’s four historically Black medical schools in New York on August 6, 2024. Left to right: Dr. Reynold Verret, president, Xavier University of Louisiana; Dr. James E. K. Hildreth, president and CEO, Meharry Medical College; Michael R. Bloomberg, founder, Bloomberg L.P. and Bloomberg Philanthropies; Dr. Valerie Montgomery Rice, president and CEO, Morehouse School of Medicine; Dr. David M. Carlisle, president and CEO, Charles R. Drew University of Medicine and Science; and Ben Vinson III, Ph.D., former president, Howard University.

The cost to attend a UNCF HBCU is

34%

lower than that of comparable institutions

University of Louisiana students race to the finish line at UNCF’s Walk for Education in New Orleans, LA.

UNCF Raises $2 Million Through Walk for Education in 19 Cities to Support HBCUs and Students

The National UNCF Walk for Education® made major strides in FY 25, delivering strong results: across 19 cities nationwide, walkers, runners, bikers, skaters and supporters joined forces to raise $2 million in support of UNCF’s mission.

Adrian Mitchell, chief operating officer and chief financial officer, Macy’s, Inc., accepted the Corporate Partner Award on behalf of Macy’s; Nicole Pullen Ross, partner, NY Head, Private Wealth Management and Head of Sports and Entertainment Solutions, Goldman Sachs was presented with the Shirley Chisholm Award; and Angela and Reginald Goins, founders, Reginald & Angela Goins Charity Fund, were presented with the Leadership Award.

UNCF-Style March Madness Raises $13.6M for HBCUs and their Students

As UNCF concluded its 80th anniversary celebrations, the organization hosted 16 fundraising events in March 2025—including seven in a single week—demonstrating an unwavering commitment to its mission. Through the support of individual and corporate donors, UNCF raised more than $13.6 million during that month, significantly helping to financially support its 37 historically Black colleges and universities (HBCUs) member institutions and their students.

Miles College used the donations it received to successfully transform a space on campus into a dynamic hub for creativity, collaboration and entrepreneurship. The Innovation Lounge features modular furniture, collaborative zones and flexible learning areas designed to support the diverse ways students engage, learn and build community. (Photo Credit: Ta’Ron Williams)

Miles College Awarded Home Depot Innovation Lounge Grant

UNCF-member institution Miles College based in Fairfield, AL, recently announced its selection as a recipient of The Home Depot’s 2025 Retool Your School Innovation Lounge Grant. The Home Depot grant funds an adaptable, tech-forward space designed to foster creativity, collaboration and entrepreneurship among students and faculty.

Tennis Champion Coco Gauff Gifts UNCF $100,000 to Create Scholarship for HBCU Students Playing Competitive Tennis

In fiscal year 2025, UNCF announced a $100,000 gift from tennis champion Coco Gauff to provide scholarships for historically Black college and university (HBCU) students playing competitive tennis.

“Infrastructure funds are necessary for [HBCUs], and students coming from a lower socioeconomic background must have the Pell Grant doubled. We at UNCF want to work with everyone to ensure these outcomes are achieved.”
– Lodriguez Murray, Vice President, Government Affairs, UNCF

Financial Highlights

Charitable Income

Assets and Liabilities

VIEW FINANCIALS

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.

Print Annual Report