Overview
What is United Negro College Fund Inc?
The United Negro College Fund Inc, based in Washington D.C., is a nonprofit organization with a significant mission. They focus on ensuring equal access to higher education for all Americans, particularly those from underrepresented groups. With over 300 employees, their work includes managing scholarship programs, providing technical assistance to institutions, and investing in institutional capacity to enhance student outcomes. Some of their notable scholarship programs include the Fund II Foundation UNCF STEM Scholars Program, K-12 Education Fellowship, and the Frederick Douglass Bicentennial Scholarship Program. They have helped over 500,000 students earn their college degrees since 1944, awarding over $100 million in scholarships annually to students attending more than 1,100 schools across the country. Their member Historically Black Colleges and Universities (HBCUs) are renowned for their achievements and contribute positively to their communities. The ongoing rise in college costs and decreasing financial aid have led to increased applications for assistance. Despite helping only one in ten applicants, their support plays a crucial role in shaping future healthcare professionals, social workers, teachers, government policy makers, entrepreneurs, business leaders, military personnel, and more, contributing to the nation's prosperity.
Official website here: www.uncf.org
What are the reviews and ratings of this charity?
Charity Navigator Rating 87% - Three-Star out of Four Star rating
The United Negro College Fund (UNCF) holds an 87% rating from Charity Navigator, reflecting strong accountability and financial management. The organization has a high program expense ratio of 87.08%, indicating that most of its funds are directed toward its mission of providing scholarships. With a solid fundraising efficiency ratio, UNCF generates significant income for scholarship recipients, reportedly increasing their financial support by $0.85 to $1.50 for every dollar spent.
User feedback is largely positive, with many praising UNCF's impact on students' lives and educational opportunities. Reviewers highlight personal stories of how the organization has changed lives and facilitated college degrees for those in need. Professionals in the field commend UNCF for supporting not only African American students but also students from diverse backgrounds, showcasing its commitment to broadening access to higher education.
However, there are notable criticisms regarding executive compensation and financial practices. Some donors have expressed outrage over perceived high salaries for leadership positions, especially in the context of declining revenues. This has raised concerns about the allocation of resources and transparency, leading to calls for better accountability in how funds are utilized within the organization.
This AI summary has been generated from information found on Charity Navigator and Great Nonprofits.
Is United Negro College Fund Inc legitimate?
United Negro College Fund Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. United Negro College Fund Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $3,450,758
Professional Fundraising Fees: $36,000
Other Salaries and Wages: $23,019,789
For more financial information, click here
Official website here: www.uncf.org
What is the mission statement of United Negro College Fund Inc?
United Negro College Fund Inc's mission is dedicated to ensuring equal access to higher education for all Americans, with a focus on under-represented students. Since its founding in 1944, the organization has helped over 500,000 students earn their college degrees. UNCF is the largest private scholarship provider for minority group members in the US, awarding over $100 million in scholarships each year to students attending more than 1,100 schools across the country. This includes prestigious Historically Black Colleges and Universities (HBCUs) within UNCF's network, which provide impressive results through research, economic benefits, and an impressive record of student outcomes. UNCF's mission aims to build a robust pipeline of highly-qualified college graduates and ensure their network of member institutions is a respected model of best practice in moving students to and through college.
Official website here: www.uncf.org
Who is the CEO of United Negro College Fund Inc?
Early Reese is the Chair Of The Board of United Negro College Fund Inc. The CEO's salary of United Negro College Fund Inc is $853,098 and their total compensation is $994,390.
Official website here: www.uncf.org
What is the revenue of United Negro College Fund Inc?
United Negro College Fund Inc's revenue in 2023 was $361,352,697.
Official website here: www.uncf.org
Who are the executives of United Negro College Fund Inc and what are their salaries?
The average compensation at United Negro College Fund Inc during 2023 was $86,505. There are 306 employees and 1913 volunteers at United Negro College Fund Inc.
Here are 65 key members and their salaries (United Negro College Fund Inc's CEO's salary is $853,098 and their total compensation is $994,390):
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Official website here: www.uncf.org
Where can I find the form 990 for United Negro College Fund Inc?
United Negro College Fund Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.uncf.org
Learn more at the official website: www.uncf.org
Mission Statement of United Negro College Fund Inc
United Negro College Fund Inc, a renowned organization, is dedicated to ensuring all Americans have equal access to higher education. With a rich history dating back to 1944, UNCF has helped over 500,000 students earn their college degrees. As the nation's largest private scholarship provider for under-represented students, UNCF annually awards over $100 million in scholarships to students attending more than 1,100 schools across the country, including its prestigious network of 37 member Historically Black Colleges and Universities (HBCUs). These institutions have achieved remarkable results, awarding undergraduate and graduate degrees, conducting groundbreaking research, and contributing significant economic benefits to their communities, regions, states, the nation, and the world.
UNCF's mission goes beyond providing scholarships. It is committed to building a robust pipeline of under-represented students who, with UNCF's support, become highly-qualified college graduates. The organization's growing portfolio of scholarship programs is unrivaled and includes various initiatives such as the Fund II Foundation UNCF STEM Scholars Program, the UNCF/Koch Scholars Program, the K-12 Education Fellowship, and the Frederick Douglass Bicentennial Scholarship Program. These programs have an impressive record of student outcomes, with the Panda Cares Scholars Program now offering a three-year renewable scholarship award, and the Fund II STEM Scholars Program celebrating its third cohort. Other scholarship, internship, fellowship, and faculty development opportunities further enhance UNCF's offerings for students and educators.
Through a three-pillar strategy, UNCF positions its member institutions as a viable college option for students and invests in institutional capacity to improve student outcomes. It creates transformative support programs to ensure students are enrolling and persisting through college completion. Building awareness of educational attainment and cultivating college-going behaviors within the African American community is another crucial aspect of UNCF's mission. However, the increasing cost of college attendance, the inability to earn funds during the COVID-19 pandemic, and decreasing financial aid have led more students to apply for UNCF's assistance each year. Despite this, UNCF can only support one out of every ten students who applies. These students are the future healthcare professionals, social workers, teachers, government policy makers, entrepreneurs, business leaders, and military men and women – the future prosperity of our nation. UNCF thanks its past and current donors for their financial contributions and volunteering and invites new donors to support its worthy mission by giving deeply because, as they say, "a mind is a terrible thing to waste, but a wonderful thing to invest in."
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Impact
October, 2024
The United Negro College Fund (UNCF) significantly impacts the education landscape by ensuring equitable access to college education for all Americans, with a focus on African American and other minority students. Since its founding in 1944, UNCF has facilitated the educational journeys of over 500,000 students, becoming the nation's largest private scholarship provider to minority group members. Awarding more than $100 million in scholarships annually to students across 1,100 schools, including a prestigious network of 37 Historically Black Colleges and Universities (HBCUs), UNCF plays a critical role in enhancing higher education access and success.
UNCF's multifaceted approach includes the management of a diverse array of scholarship programs, such as the Fund II Foundation UNCF STEM Scholars Program and the Frederick Douglass Bicentennial Scholarship Program. These initiatives aim to support students academically and professionally, promoting their development through internships and fellowships. By focusing on three core pillars—positioning member institutions as viable college options, creating transformational support programs, and building awareness within the African American community—UNCF is dedicated to improving educational attainment and fostering a culture of college-going.
The rising costs of college, challenges faced during the COVID-19 pandemic, and increased competition for financial aid have led to a growing number of students seeking assistance from UNCF. However, the organization can only support one out of every ten applicants, highlighting the pressing need for expanded resources. The beneficiaries of UNCF's support represent the future workforce in various essential fields, including healthcare, education, business, and public service, ultimately contributing to the nation's prosperity and progress. UNCF's mission underscores the importance of investing in education to ensure a more equitable and thriving society.
This information is meant to be a general summary of United Negro College Fund Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $8,841,568
- Program Service Revenue: $100,690
- Gross Receipts: $600,210,650
Assets and Liabilities:
- Total Assets: $848,813,093
- Total Liabilities: $76,742,307
- Net Assets: $772,070,786
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROGRAM RENTAL INCOME
Revenue
$100,690
Organization Details
Founding Year
1944
Phone
(202) 810-0274Principal Officer
Early Reese
Main Address
1805 7TH STREET NW, WASHINGTON, DC, 20001
Website
www.uncf.orgNTEE Category
Code: B820 - Education
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