Richard Parsons: Corporate Giant, Great Friend of UNCF

UNCF (United Negro College Fund) is deeply saddened by the passing of Richard Parsons, a former board member and a monumental figure in the realm of corporate America. His remarkable leadership and visionary approach have left an indelible mark on the business landscape, and his unwavering commitment to education and social equity has forged a lasting legacy.

“Richard Parsons was not only a titan in the corporate world but also a passionate advocate for the empowerment of future generations through education,” said UNCF President and CEO Dr. Michael L. Lomax. “His belief in the transformative potential of knowledge resonated through his work, inspiring numerous individuals to strive for excellence. His generosity and steadfast support for historically Black colleges and universities (HBCUs) exemplified his dedication to fostering opportunities for underrepresented communities.”

On March 17, 2016, Parsons spoke at UNCF’s National “A Mind Is…”® Gala about the organization’s impact.

“When I think of UNCF, it’s about empowering individuals to realize their full potential by educating their minds to change lives,” he said. He commended Dr. Lomax for being “brilliant” in taking UNCF in a more comprehensive and integrated and thoughtful direction focusing on K through 12 to replenish the pipeline of future generations of college students.

Parsons held major leadership positions in corporate America. He was former chairman and CEO of Time Warner, former chairman of Citigroup, former Senior Advisor of Providence Equity, former interim CEO of the Los Angeles Clippers basketball team and former interim chairman of the board for CBS.

He was chairman and CEO of Dime Bancorp, managing partner of the New York law firm Patterson, Belknap, Webb and Tyler, counsel for Nelson Rockefeller, and a senior White House aide under President Gerald Ford. Parsons also served as a senior advisor of Providence Equity Partners.

Parsons was a board member of the Estée Lauder Companies, Lazard Ltd, and Madison Square Garden Sports. He served as chairman emeritus of the Partnership for New York City, chairman of the Jazz Foundation of America, and served on the board of the Commission on Presidential Debates. He was a member of President Obama’s Council on Jobs and Competitiveness. He was also a co-founder and partner at Imagination Capital and chairman of Equity Alliance.

An avid lover of jazz music, Parsons served as the chairman of the board of directors of the Jazz Foundation of America. He was also chair of the Apollo Theater Foundation and co-chair of the advisory board of the Smithsonian National Museum of African American History and Culture.

Parsons was board chair of the Rockefeller Foundation, a foundation promoting the well-being of humanity all over the world and joined the foundation’s board of trustees.

As we reflect on Parsons’ extraordinary life, we celebrate the significant contributions he made to both our community and society at large. His wisdom, compassion and unwavering commitment to uplifting others will continue to inspire us in our mission.

Our heartfelt thoughts and prayers are with his wife, Laura, other family members, friends and all those who had the privilege of knowing him. He will be remembered not just for his impressive professional achievements, but also for the kindness and encouragement he extended to so many, leaving behind a legacy of hope and empowerment.