Macy’s Delivers for HBCUs
Monique LeNoir UNCF Communications 202.810.0231 firstname.lastname@example.org
More than $1.3M raised for scholarships
As the nation observed Black History Month this past February, Macy’s launched a campaign in stores and online at macys.com supporting UNCF (United Negro College Fund) and raising funds for scholarships for students attending historically Black colleges and universities (HBCUs).
“UNCF is grateful to Macy’s and their customers for collectively raising more than $1.3 million through this campaign to help more HBCU students realize their dream to attend college,” said Maurice E. Jenkins, Jr., executive vice president and chief development officer, UNCF. “This campaign demonstrated how small gifts matter because all students matter.”
From Feb. 1 through Feb. 28, Macy’s customers directly impacted and empowered the next generation of Black leaders in local communities nationwide through the charitable round-up campaign. Customers donated online or rounded-up their in-store purchase amount and donated the extra change, up to 99 cents, to UNCF.
“This campaign was important because HBCUs matter. When you invest in HBCUs and their students you invest in the future of America. HBCUs are proven engines of social and economic mobility for thousands of low-income and first-generation college students,” Jenkins said.
Although they represent just three percent of all higher education institutions, HBCUs produce nearly 20% of all African American college graduates.
As a result, HBCUs produce 40% of all Black engineers, 40% of Black congressional members, 50% of all Black lawyers, 50% of all Black doctors, and 80% of Black judges. HBCUs have also produced more than 1 million associate, bachelor, master and doctoral degrees combined since 1984.
While HBCUs overproduce relative to their better-resourced counterparts, they have remained underfunded. Historical underfunding has led to a myriad of financial issues for HBCUs, particularly much smaller endowments relative to their peers.
Recent data from McKinsey & Company shows that investing in HBCUs would profoundly affect the U.S. economy and help fill the social and economic gaps Black Americans experience.
HBCUs are uniquely positioned to foster such advancement given their assets, experience, and cultural and historical significance.
“We encourage others in corporate America to follow Macy’s lead with similar round up and give-back campaigns to continue to support HBCUs and the students they serve,” added Jenkins.
UNCF (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, supports and strengthens its 37 member colleges and universities, and advocates for the importance of minority education and college readiness. UNCF institutions and other historically Black colleges and universities are highly effective, awarding nearly 20% 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 1,100 colleges and universities across the country. Its logo features the UNCF torch of leadership in education and its widely recognized trademark, ‟A mind is a terrible thing to waste.”® Learn more at UNCF.org or for continuous updates and news, follow UNCF on Twitter at @UNCF.