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CHARITY REVIEW
Issued: June 2026 Expires: June 2028

UNCF

Standards Not Met
Standards Not Met
1 7 14 17
(800) 331-2244
1805 7th Street NW
Washington, DC, 20001
https://uncf.org/
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Standards For Charity Accountability

Governance

  1. Board Oversight
  2. Board Size
  3. Board Meetings
  4. Board Compensation
  5. Conflict of Interest

Measuring Effectiveness

  1. Effectiveness Policy
  2. Effectiveness Report

Finances

  1. Program Expenses
  2. Fundraising Expenses
  3. Accumulating Funds
  4. Audit Report
  5. Detailed Expense Breakdown
  6. Accurate Expense Reporting
  7. Budget Plan

Fundraising & Info

  1. Truthful Materials
  2. Annual Report
  3. Website Disclosures
  4. Donor Privacy
  5. Cause Marketing Disclosures
  6. Complaints

UNCF does not meet the following 4 Standards for Charity Accountability:

Standard 1 (Oversight of Operations and Staff)
Organizations shall have a board of directors that provides adequate oversight of the charity's operations and its staff. Indication of adequate oversight includes, but is not limited to, regularly scheduled appraisals of the CEO's performance, evidence of disbursement controls such as board approval of the budget, fund raising practices, establishment of a conflict of interest policy, and establishment of accounting procedures sufficient to safeguard charity finances.

UNCF does not meet this Standard because its board of directors does not:

  • Have a voting member of the board who is assigned the responsibility of serving as the treasurer.

Standard 7 (Board Approval of Written Report on Effectiveness)
Submit to the organization's governing body, for its approval, a written report that outlines the results of the aforementioned performance and effectiveness assessment and recommendations for future actions.

UNCF does not meet this Standard because:

  • The organization did not produce a written report outlining the results of its effectiveness assessment performed in March 2026.

Standard 14 (Budget)
Have a board-approved annual budget for its current fiscal year, outlining projected expenses for major program activities, fund raising, and administration.

UNCF does not meet this Standard because, when the organization provided 2026 budget information, it indicated that the budget:

  • Did not identify total projected program service expenses nor include a breakdown of major program service expenses (GMSP, scholarships and special events, distributions to member institutions, institutional services, and other program services).
  • Did not identify total projected fundraising expenses.
  • Did not identify total projected administrative expenses.

Standard 17 (Web Site Disclosures)
Include on any charity websites that solicit contributions, the same information that is recommended for annual reports, as well as the mailing address of the charity and electronic access to its most recent IRS Form 990.

UNCF does not meet this Standard because the organization’s website, https://uncf.org/, does not include all of the recommended information for those charity websites that solicit for donations. Specifically, it does not include:

  • Electronic access to the organization’s IRS Form 990 for the year ended March 31, 2025.

The BBB Wise Giving Alliance requested but did not receive complete information from the organization and is unable to verify the organization's compliance with the following Standard(s) for Charity Accountability: 3, 15, 20

UNCF meets the remaining 13 Standards for Charity Accountability.

Complaints

Number of complaints processed by the BBB in the last 36 months: 2.

Mailing List Removal

The organization did not address the complaint issues brought to its attention: 2.

(These complaints involve individuals seeking to have his or her name and contact information removed from the organization's mailing and/or telemarketing list.)

Stated Purpose:
"to build a robust and nationally-recognized pipeline of under-represented students, who, because of UNCF support, became highly-qualified college graduates and to ensure that our network of member institutions is a respected model of best practice in moving students to and through college."

Year, State Incorporated:
1944, NY

Also Known As:
United Negro College Fund

UNCF reports that it works toward Americans having equal access to a college education, preparing individuals for competitive careers and engaged citizenship in service to the United States. The organization strives to increase the number of black college graduates, working to ensure that students are prepared for college, enrolling in college, and improve student outcomes through cultivating college-going behaviors within the community. UNCF states that it awards $65 million in scholarships annually, and that 37 Historically Black Colleges and Universities are UNCF-member institutions.

For the year ended March 31, 2025, UNCF's program expenses were:

Scholarships and special projects $99,385,148
Distributions to member institutions $23,997,506
GMSP $15,093,227
Institutional services $3,737,538
Other program services $1,110,520
Total Program Expenses $143,323,639

Chief Executive
Michael L. Lomax, PhD, President and Chief Executive Officer

Compensation*
$1,423,381

Chair of the Board
Milton H. Jones, Jr

Chair's Profession / Business Affiliation
Founding Member, Peachtree Providence Partners Holding Company, LLC

Board Size
31

Paid Staff Size
300

*2023 compensation includes annual salary and, if applicable, benefit plans, expense accounts, and other allowances.

Method(s) Used:
Direct mail appeals, Invitations to fund raising events, Print advertisements (newspapers, magazines, etc.), Television, Radio, Grant proposals, Internet, Planned giving arrangements, Workplace Giving

Fundraising costs were 17% of related contributions. (Related contributions, which totaled $135,788,530, are donations received as a result of fundraising activities.)

This organization is tax-exempt under section 501(c)(3) of the Internal Revenue Code. It is eligible to receive contributions deductible as charitable donations for federal income tax purposes.

The following information is based on UNCF's audited financial statements for the year ended March 31, 2025.

Source of Funds
Contributions for grants and scholarships $75,393,515
Contributions $49,248,385
Interest and dividends $17,938,866
Realized and unrealized gain on investments, net $15,832,692
Bequests and legacies $10,091,871
In-kind contributions $1,054,759
Total Income $169,560,088

Programs: 78% Fundraising: 13% Administrative: 9%

Total Income $169,560,088
Total expenses: $183,484,693
  Program expenses $143,323,639
  Fundraising expenses $23,374,513
  Administrative expenses $16,786,541
  Other expenses $0
Income in Excess of Expenses $-13,924,605
Beginning Net Assets $849,459,411
Other Changes In Net Assets $254,467
Ending Net Assets $835,789,273
Total Liabilities $56,637,648
Total Assets $892,426,921

Note 1: As noted in the above financial section, "other changes in net assets" refers to amortization of investment premium and discount.

Note 2: According to UNCF's audited financial statements for the year ended March 31, 2025, the organization received $1,054,759 in contributed professional services.

An organization may change its practices at any time without notice. A copy of this report has been shared with the organization prior to publication. It is not intended to recommend or deprecate, and is furnished solely to assist you in exercising your own judgment. If the report is about a charity and states the charity meets or does not meet the Standards for Charity Accountability, it reflects the results of an evaluation of information and materials provided voluntarily by the charity. The name Better Business Bureau is a registered service mark of the International Association of Better Business Bureaus.

This report is not to be used for fundraising or promotional purposes.

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Report completed by:
BBB Wise Giving Alliance