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141102670 true true false true false false false true false true true true false false true true true false false false true false false true true false false true true true true false true false false false false false false false false false false false false false false false false false true X 700 0 true 282 true true true false false false false true true false false false false false false X 32 32 false false false false true true true true true false false true true true true true true true true false AL AK AZ AR CA CO CT DE DC FL GA HI ID IL IN IA KS KY LA ME MD MA MI MN MS MO MT NE NV NH NJ NM NY NC ND OH OK OR PA RI SC SD TN TX UT VT VA WA WV WI WY X X X SETH BARDU 2028100274 1805 7TH STREET NW WASHINGTON DC 20001 X DR MICHAEL L LOMAX President & CEO 50.0 0.0 X 603461 0 212954 MR EARLY REESE EVP & COO 50.0 0.0 X 600416 0 42832 MR MAURICE E JENKINS EVP&CHIEF DEVELOPMENT OFFICER 50.0 0.0 X 324527 0 67851 MR LAWRENCE GRIFFITH SVP, SCHOLARSHIPS & PROGRAMS 50.0 0.0 X 265891 0 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D, Part XIII false false 100741835 1386192 -2843499 4871271 94413257 103734086 79196 1651790 4723237 100741835 97514294 1821032 8893215 4494455 103734086 91155802 278805 10067981 3988294 97514294 96901536 1401039 -3226876 3919897 91155802 0.04500 0.75900 0.19600 false false 6350000 6350000 22958557 4173247 18785310 336145 208846 127299 4333510 4228076 105434 58607 49074 9533 25377576 HEDGE FUNDS 19943719 F PRIVATE EQUITIES 34988539 F US AND GLOBAL EQUITIES 45932596 F FIXED INCOME 10568456 F 111433310 0 ACCRUED DISTRIBUTION TO MEMBER 18450254 18450254 X 81493225 -9602835 1077732 -8525103 90018328 1221018 -91730 1129288 91147616 160291399 91730 91730 160199669 1221018 1221018 161420687 SCHEDULE D, PART III, LINE 3E DISTRIBUTIONS IN LINE WITH DONOR'S INTENT SCHEDULE D, PART III, LINE 4 UNCF'S COLLECTION ITEMS CONSISTED OF $6,929,250 IN DONATED WORKS OF ART RECEIVED FROM THE ESTATE OF BENNY ANDREWS FOUNDATION, INC. AN INDEPENDENT APPRAISAL WAS USED TO MEASURE THE FAIR VALUE AT DATE OF GIFT. THERE WERE NO DISTRIBUTIONS OF ART WORK DURING FISCAL YEAR ENDED MARCH 31, 2020. HOWEVER, ART WORK VALUED AT $5,515,000 HAS BEEN DISTRIBUTED TO DATE IN ACCORDANCE WITH THE DONOR'S INTENT. THE REMAINING COLLECTIONS ON HAND AS OF MARCH 31, 2020 VALUED AT $1,414,250 ARE HELD WITHIN A SECURED ENVIRONMENT FOR FUTURE PLANNED DISTRIBUTION. SCHEDULE D, PART V, LINE 4 UNCF'S ENDOWMENTS CONSIST OF 179 PROGRAMS ESTABLISHED FOR THE PURPOSE OF FUNDING SCHOLARSHIPS. NET ASSETS ASSOCIATED WITH THE ENDOWMENT FUNDS ARE CLASSIFIED AND REPORTED BASED ON THE EXISTENCE OR ABSENCE OF DONOR-IMPOSED RESTRICTIONS. SCHEDULE D, PART X, LINE 2 UNCF also follows the provisions of FASB ASC Topic 740-10, Income Taxes. Management believes it has no material uncertain tax positions or any related penalties and interest to accrue for the years ended March 31, 2020 and 2019, and, accordingly, there is no liability for unrecognized tax benefits. UNCF files IRS Form 990 annually with the Federal Government and is still open to examination by taxing authorities for fiscal year 2017 and later. SCHEDULE D, PART XI, LINE 4B RENTAL EXPENSE.................. ($91,730) SCHEDULE D, PART XII, LINE 2D RENTAL EXPENSE.................. $91,730 Europe (Including Iceland and Greenland) Investments 6674400 East Asia and the Pacific Investments 9599600 16274000 16274000 true false true false true false SCHEDULE F, PART I, LINE 3 THE TOTAL REPORTED IN COLUMN (F) REPRESENTS THE MARKET VALUE OF THESE INVESTMENTS AS OF MARCH 31, 2020. X X X X X true Kelly Strategies LLC 2674 N Upshur St Arlington VA 22207 Consulting false 17000 Studio 4Forty 440 Crystal Springs Rd Saint Helena CA 94574 Event Support false 16000 Leah Goodwin Creations 1442 Seacoast Drive 8 Imperial Beach CA 91932 Event Support false 13636 46636 All States MAYA ANGELOU 2127293 1977652 149641 88293 61348 ATLANTA MASKED 1427635 980901 446734 146783 174182 125769 63 11972907 7408921 4563986 8060 1787676 642858 2125392 15527835 10367474 5160361 8060 2022752 817040 2312509 5160361 1805 7TH STREET NW WASHINGTON DC 20001 true ALLEN UNIVERSITY 1530 HARDEN STREET COLUMBIA SC 29204 570341191 501(c)(3) 438629 85071 FMV AREA OFF.SUP GRANTS & SCHOLARSHIPS, AREA OFFICE JOINT CAMPAIGN BENEDICT COLLEGE HARDEN AND BAND STREETS COLUMBIA SC 29204 570314365 501(c)(3) 688245 85071 FMV AREA OFF.SUP GRANTS & SCHOLARSHIPS, AREA OFFICE JOINT CAMPAIGN BENNETT COLLEGE FOR WOMEN 900 E Washington St GREENSBORO NC 27401 560532296 501(c)(3) 403542 85071 FMV AREA OFF.SUP GRANTS & 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SCHOLARSHIPS,TECH ASSISTANT,AREA OFFICE JOINT CAMPAIGN FLORIDA MEMORIAL UNIVERSITY 15800 NW 42ND AVENUE MIAMI FL 33054 590668483 501(c)(3) 1017503 195576 FMV BLOOMBERG GRANTS & SCHOLARSHIPS,TECH ASSISTANT,AREA OFFICE JOINT CAMPAIGN HUSTON TILLOTSON UNIVERSITY 900 CHICON STREET AUSTIN TX 78702 741180151 501(c)(3) 630729 85071 FMV AREA OFF.SUP GRANTS & SCHOLARSHIPS, AREA OFFICE JOINT CAMPAIGN INTERDENOMINATIONAL THEOLOGICAL CENTER 700 MLK Jr Drive SW ATLANTA GA 30314 580814544 501(c)(3) 420546 85071 FMV AREA OFF.SUP GRANTS & SCHOLARSHIPS, AREA OFFICE JOINT CAMPAIGN JARVIS CHRISTIAN COLLEGE HIGHWAY 80 WEST PO BOX 1470 HAWKINS TX 75765 750995027 501(c)(3) 625187 85071 FMV AREA OFF.SUP GRANTS & SCHOLARSHIPS, AREA OFFICE JOINT CAMPAIGN JOHNSON C SMITH UNIVERSITY 100 BEATTIES FORD ROAD CHARLOTTE NC 28216 250983069 501(c)(3) 368320 85071 FMV AREA OFF.SUP GRANTS & SCHOLARSHIPS, AREA OFFICE JOINT CAMPAIGN LANE COLLEGE 545 LANE AVENUE JACKSON TN 38301 620570060 501(c)(3) 462047 218730 FMV BLOOMBERG GRANTS & SCHOLARSHIPS,TECH ASSISTANT, AREA OFFICE JOINT CAMPAIGN LEMOYNE OWEN COLLEGE 807 WALKER AVENUE MEMPHIS TN 38126 620475690 501(c)(3) 601006 224663 FMV BLOOMBERG GRANTS & SCHOLARSHIPS,TECH ASSIST,AREA OFFICE JOINT CAMPAIGN LIVINGSTONE COLLEGE 701 WEST MONROE STREET SALISBURY NC 28144 560603922 501(c)(3) 412484 85071 FMV AREA OFF.SUP GRANTS & SCHOLARSHIPS, AREA OFFICE JOINT CAMPAIGN MILES COLLEGE 5500 MYRON MASSEY BLVD FAIRFIELD AL 35064 630400608 501(c)(3) 378243 85071 FMV AREA OFF.SUP GRANTS & SCHOLARSHIPS, AREA OFFICE JOINT CAMPAIGN MOREHOUSE COLLEGE 830 WESTVIEW DRIVE SW ATLANTA GA 30314 580566205 501(c)(3) 1534041 166800 FMV BLOOMBERG GRANTS & SCHOLARSHIPS,TECH ASSIST,AREA OFFICE JOINT CAMPAIGN MORRIS COLLEGE 100 WEST COLLEGE STREET SUMTER SC 29150 576000734 501(c)(3) 324985 85071 FMV AREA OFF.SUP GRANTS & SCHOLARSHIPS, AREA OFFICE JOINT CAMPAIGN OAKWOOD UNIVERSITY 7000 ADVENTIST Blvd NW HUNTSVILLE AL 35896 630366652 501(c)(3) 1633210 85071 FMV AREA OFF.SUP GRANTS & SCHOLARSHIPS, AREA OFFICE JOINT CAMPAIGN PAINE COLLEGE 1235 15TH STREET AUGUSTA GA 30901 237434499 501(c)(3) 446382 85071 FMV AREA OFF.SUP GRANTS & SCHOLARSHIPS, AREA OFFICE JOINT CAMPAIGN PHILANDER SMITH COLLEGE ONE TRUDDIE KIBBE REED DRIVE LITTLE ROCK AR 72202 710239729 501(c)(3) 526954 85071 FMV AREA OFF.SUP GRANTS & SCHOLARSHIPS, AREA OFFICE JOINT CAMPAIGN RUST COLLEGE 150 RUST AVENUE HOLLY SPRINGS MS 38635 640303805 501(c)(3) 666323 190026 FMV BLOOMBERG GRANTS & SCHOLARSHIPS, AREA OFFICE JOINT CAMPAIGN SAINT AUGUSTINE'S UNIVERSITY 1315 OAKWOOD AVENUE RALEIGH NC 27610 560547478 501(c)(3) 391221 85071 FMV AREA OFF.SUP GRANTS & SCHOLARSHIPS, AREA OFFICE JOINT CAMPAIGN SHAW UNIVERSITY 118 EAST SOUTH STREET RALEIGH NC 27611 560530235 501(c)(3) 484140 85071 FMV AREA OFF.SUP GRANTS & SCHOLARSHIPS, AREA OFFICE JOINT CAMPAIGN SPELMAN COLLEGE 350 SPELMAN LANE SW ATLANTA GA 30314 580566243 501(c)(3) 1903727 85071 FMV AREA OFF.SUP GRANTS & SCHOLARSHIPS, AREA OFFICE JOINT CAMPAIGN STILLMAN COLLEGE 3601 STILLMAN Blvd PO BOX 1430 TUSCALOOSA AL 35403 630315935 501(c)(3) 370647 190223 FMV BLOOMBERG GRANTS & SCHOLARSHIPS, AREA OFFICE JOINT CAMPAIGN TALLADEGA COLLEGE 627 WEST BATTLE STREET TALLADEGA AL 35160 630288870 501(c)(3) 868259 85071 FMV AREA OFF.SUP GRANTS & SCHOLARSHIPS, AREA OFFICE JOINT CAMPAIGN TEXAS COLLEGE 2404 NORTH GRAND AVENUE TYLER TX 75712 750917417 501(c)(3) 409576 85071 FMV AREA OFF.SUP GRANTS & SCHOLARSHIPS, AREA OFFICE JOINT CAMPAIGN TOUGALOO COLLEGE 500 WEST COUNT LINE ROAD TOUGALOO MS 39174 640303093 501(c)(3) 978870 85071 FMV AREA OFF.SUP GRANTS & SCHOLARSHIPS, AREA OFFICE JOINT CAMPAIGN TUSKEGEE UNIVERSITY CARNEGIE HALL 2ND FLOOR TUSKEGEE AL 36088 630288878 501(c)(3) 751989 211660 FMV BLOOMBERG GRANTS & SCHOLARSHIPS, AREA OFFICE JOINT CAMPAIGN VIRGINIA UNION UNIVERSITY 1500 N Lombardy St RICHMOND VA 23220 540524516 501(c)(3) 371685 85071 FMV AREA OFF.SUP GRANTS & SCHOLARSHIPS, AREA OFFICE JOINT CAMPAIGN VOORHEES COLLEGE 103 ACADEMIC CIRCLE DENMARK SC 29042 570329786 501(c)(3) 737981 85071 FMV AREA OFF.SUP GRANTS & SCHOLARSHIPS, AREA OFFICE JOINT CAMPAIGN WILBERFORCE UNIVERSITY PO BOX 1001 WILBERFORCE OH 45384 310604719 501(c)(3) 570188 85071 FMV AREA OFF.SUP GRANTS & SCHOLARSHIPS, AREA OFFICE JOINT CAMPAIGN WILEY COLLEGE 711 WILEY AVENUE MARSHALL TX 75670 750818183 501(c)(3) 662433 85071 FMV AREA OFF.SUP GRANTS & SCHOLARSHIPS, AREA OFFICE JOINT CAMPAIGN XAVIER UNIVERSITY ONE DREXEL DRIVE PO BOX 121 NEW ORLEANS LA 70125 720635884 501(c)(3) 1327055 85071 FMV AREA OFF.SUP GRANTS & SCHOLARSHIPS, AREA OFFICE JOINT CAMPAIGN AMERICAN INDIAN GRADUATE CENTER SCHOLARS 3701 SAN MATEO BLVD NE SUITE 200 ALBUQUERQUE NM 87110 850477062 501(c)(3) 5819626 GRANTS & SCHOLARSHIPS, AREA OFFICE JOINT CAMPAIGN ASIAN AND PACIFIC ISLANDER AMERICAN SCHOLARSHIP FU 2025 M STREET NW SUITE 610 WASHINGTON DC 20036 571192973 501(c)(3) 9235853 GRANTS & SCHOLARSHIPS HISPANIC SCHOLARSHIP FUND 55 SECOND STREET SUITE 1500 SAN FRANCISCO CA 94105 521051044 501(c)(3) 22475758 Grants & Scholarships The University of West Alabama UWA Station 3 Livingstone AL 35470 636001100 501(c)(3) 250000 Career Pathways Initiative Grants Tennessee State University Floyd Payne Campus Center 343 3500 John Merrite Blvd Nashville TN 37209 620786119 501(c)(3) 481000 0 Career Pathways Initiative Grant Norfolk State University 700 Park Avenue Suite 130 Norfolk VA 23504 237235954 501(c)(3) 200000 Career Pathways Initiative Grant Morgan State University 1700 E Cloud Spring Ln Baltimore MD 21251 237089143 501(c)(3) 491000 Career Pathways Initiative Grant Fayetteville State University 1200 Murchinson Road Fayetteville NC 28301 561238736 501(c)(3) 500000 Career Pathways Initiative Grant Paul Quinn College 3837 Simpson Stuart Road Dallas TX 75241 741238438 501(C)(3) 24277 Career Pathways Initiative Grant 45 Various scholarships 3509 31618048 Stipends, Honorariums and Fellowships 934 921581 SCHEDULE I, PART 1, LINE 2 WITH EACH GRANT RECEIVED UNCF DEVELOPS GUIDELINES FOR THE DISBURSEMENT OF SCHOLARSHIP FUNDS WHICH ARE OUTLINED IN A GRANT AGREEMENT WITH THE GRANTING AGENCY. THE GUIDELINES MAY INCLUDE A COMBINATION OF SELECTION CRITERIA TO INCLUDE, BUT NOT LIMITED TO: FINANCIAL NEED, MAJOR, GRADE POINT AVERAGE, RESIDENCY, COMMUNITY SERVICE AND OTHER FACTORS MUTUALLY AGREED UPON FOR EACH SCHOLARSHIP FUND. STUDENTS APPLY FOR SCHOLARSHIPS THROUGH UNCF'S ONLINE APPLICATION TOOL. EACH APPLICANT IS REVIEWED BASED ON THE DESIGNATED ELIGIBILITY REQUIREMENTS FOR THE SCHOLARSHIP. UNCF'S ONLINE APPLICATION INCLUDES A WEIGHTED SCORING SYSTEM TO EVALUATE THE APPLICATIONS. ITEMS ARE WEIGHTED UP TO A TOTAL AMOUNT OF POINTS. ACADEMIC PERFORMANCE(COURSE RIGOR AND GPA), HONORS AND AWARDS, VOLUNTEER AND COMMUNITY SERVICE, PAID EMPLOYMENT, LEADERSHIP ACTIVITIES AND ESSAYS ARE AMONG ITEMS THAT ARE EVALUATED. UNCF FOLLOWS AGREED UPON GUIDELINES AND TIMELINES TO MONITOR THE USE OF FUNDS. X X X X X false true false false false false false false false DR MICHAEL L LOMAX President & CEO 512049 91412 124546 88408 816415 MR EARLY REESE EVP & COO 364031 22500 213885 31500 11332 643248 187500 MR MAURICE E JENKINS EVP&CHIEF DEVELOPMENT OFFICER 280542 23600 20385 57411 10440 392378 MR LAWRENCE GRIFFITH JR SVP, SCHOLARSHIPS & PROGRAMS 238479 15000 12412 17365 10606 293862 MS LAJUAN LYLES SVP, HR & ADMINISTRATION 237321 14580 3719 14327 21837 291784 MR SETH BARDU SVP, CFO & TREASURER 244423 7500 3838 9289 25919 290969 MR DIEGO AVILES VP, DEV NORTHEAST DIV 218590 6750 776 4413 25554 256083 MS DESIREE C BOYKIN VP GEN'L COUNSEL & SECRETARY 216494 6600 1159 7323 21738 253314 MR BRIAN BRIDGES VP, RESEARCH & MEMBER ENGAGE. 194868 12360 1076 14420 25910 248634 MR ROBERT RUCKER VP, IT & PROJ MGMT OFFICE 182323 11160 5285 0 21523 220291 MR RICHARD M SHROPSHIRE VP MKTG, BRANDING & COMMS 201192 6120 1990 0 10093 219395 MR LODRIQUEZ MURRAY SVP, PUBLIC POLICY & GOVT AFF. 190888 14960 377 0 10315 216540 MR BRANDON FITZGERALD ASSOC GC & ASSIST SECY 148406 4635 502 4635 9687 167865 Schedule J, Part I, Line 4b NON-QUALIFIED DEFERRED COMPENSATION PLANS ARE IN PLACE FOR DR. MICHAEL LOMAX, PRESIDENT & CEO; MR EARLY REESE, EVP & COO AND MR. MAURICE JENKINS, EVP & CHIEF DEVELOPMENT OFFICER. THE TERMS AND CONDITIONS OF EACH OF THE AGREEMENTS, HAVING VARYING VESTING DATES, ARE IN KEEPING WITH THOSE OFFERED BY COMPARABLE ORGANIZATIONS AND ARE DESIGNED TO ENSURE LONG-TERM TENURE. IN ACCORDANCE WITH UNCF'S AGREEMENT WITH EARLY REESE, A 3-YEAR CUMULATIVE LUMP SUM RETENTION PAYOUT (JULY 1, 2016 - JUNE 30, 2019) OF $200,000 WAS DISBURSED TO MR. REESE IN JULY 2019. THIS AMOUNT IS REPORTED AS OTHER REPORTABLE COMPENSATION IN COLUMN (B)(III) OF SCHEDULE J, PART II. IN 2019, UNCF DEFERRED $100,000, $12,500 AND $40,000 RESPECTIVELY FOR DR. LOMAX, MR. REESE AND MR. JENKINS. THE AMOUNT DEFERRED IN 2019 FOR DR. LOMAX WILL BE PART OF HIS RETENTION PAYOUT IN 2020. A DISTRICT OF COLUMBIA 536001131 000000000 2015-08-06 31565000 REFUND 2010 BOND ISSUE false false false A 0 0 31565000 0 0 0 631300 0 0 0 30933700 0 2015 true false true true A false false false false 0 false false false false A false true false false false false 0 0 false false A false SCHEDULE K, PART I, LINE A, COLUMN F ADVANCE REFUNDING OF EXISTING 2010 BONDS ORIGINALLY ISSUED 12/23/2010. FORM 990, PARTS I AND III, LINE 1 - ORGANIZATION MISSION THE UNITED NEGRO COLLEGE FUND'S MISSION IS TO 1) BUILD A ROBUST AND NATIONALLY RECOGNIZED PIPELINE OF UNDER-REPRESENTED STUDENTS WHO, BECAUSE OF UNCF SUPPORT, BECOME HIGHLY-QUALIFIED COLLEGE GRADUATES AND 2) TO ENSURE THAT OUR NETWORK OF MEMBER INSTITUTIONS IS A RESPECTED MODEL OF BEST PRACTICE IN MOVING STUDENTS TO AND THROUGH COLLEGE. FORM 990, PART III, LINE 1 - STATEMENT OF ACCOMPLISHMENTS UNCF MEMBER HBCUS ARE KNOWN FOR THEIR ACHIEVEMENTS - AWARDING UNDERGRADUATE AND GRADUATED DEGREES - PROVIDING IMPRESSIVE RESULTS THROUGH RESEARCH AND PROMOTING ECONOMIC BENEFITS THAT YIELD MAJOR IMPACT FOR THEIR COMMUNITIES, REGIONS, STATES, THE NATION, AND THE WORLD. THE WORK OF UNCF'S GROWING PORTFOLIO OF SCHOLARSHIP PROGRAMS IS UNRIVALED, DELIVERING MORE THAN 10,000 INDIVIDUAL SCHOLARSHIPS VALUED AT MORE THAN $90 MILLION EACH YEAR TO STUDENTS ATTENDING MORE THAN 1,100 COLLEGES AND UNIVERSITIES ACROSS THE UNITED STATES. THE EXPANSION OF THE PANDA CARES SCHOLARS PROGRAM- A THREE-YEAR RENEWABLE SCHOLARSHIP AWARD - TO A MUCH LARGER PROGRAM SPEAKS TO THE ABILITY OF UNCF TO DELIVER ON ITS PROMISE OF SUPPORTING MORE STUDENTS OF COLOR. THE FUND II STEM SCHOLARS PROGRAM COMPLETED ITS FIRST COHORT, GRADUATING ITS FIRST SET OF ENTRANTS. THE WALTON FELLOWS PROGRAM, AN EDUCATIONAL REFORM PROGRAM AIMED AT HELPING INFORM NEW EDUCATORS ON HOW TO IMPROVE THE K-12 EDUCATION SYSTEM FROM THE INSIDE OUT, CELEBRATED ITS 10TH YEAR. TOGETHER, THESE UNCF STUDENT PROFESSIONAL DEVELOPMENT PROGRAMS ADD UP TO SOME OF THE NEWEST, BEST, AND STRONGEST OFFERINGS UNCF HAS FOR STUDENTS, WITH MUCH MORE TO COME. 2019 MARKED UNCF'S 75TH YEAR OF OPERATIONS. THE ORGANIZATION CONTINUES TO BE EXCITED ABOUT ITS MISSION AND PROGRESS. IN 75 YEARS, UNCF ENABLED MORE THAN HALF A MILLION STUDENTS EARN COLLEGE DEGREES, WHICH HAVE CONTRIBUTED BILLIONS OF DOLLARS TO THE BOTTOM LINE OF OUR LOCAL, STATE AND NATIONAL ECONOMIES AND IMPROVED THE LIVES OF UNTOLD MILLIONS OF PEOPLE RELATED TO THOSE WHO HAVE EARNED THOSE COLLEGE DEGREES. WE ARE PROUD OF THE INVESTMENTS AND SUCCESS OF THE COLLEGE-EDUCATED PROFESSIONALS WHO HAVE BENEFITTED EACH YEAR FROM THE PROGRAMS, COMMITTMENT OF STAFF AND GENEROUS FINANCIAL SUPPORT OF DONORS WHO HAVE GRACIOUSLY SUPPORTED THE MISSION OF UNCF. CURRENTLY, UNCF CAN HELP ONE STUDENT OUT OF EVERY 10 WHO ASKS FOR OUR SUPPORT. WE THANK ALL DONORS, PAST AND CURRENT, FOR THEIR FINANCIAL CONTRIBUTIONS AND HOPE NEW DONORS ARE INSPIRED TO SUPPORT UNCF'S WORTHY MISSION BY GIVING AS DEEPLY AS POSSIBLE, BECAUSE THE NEED IS GREAT. THE STUDENTS WE EDUCATE NOW WILL BE OUR FUTURE EDUCATORS, BUSINESS LEADERS, ENTREPRENEURS, DOCTORS, NURSES, VIROLOGISTS, TECHNOLOGISTS, RESEARCHERS - OUR FUTURE PANDEMIC FRONT-LINERS AND MANY OTHER PROFESSIONALS. INVESTING IN THEM NOW ENSURES BETTER FUTURES FOR US ALL LATER. FORM 990, PART V, LINE 3B A SIX MONTH EXTENSION TO FILE FORM 990-T BY FEBRUARY 15, 2021 HAS BEEN SUBMITTED. ALL REQUIREMENTS TO FILE BY THE EXTENDED DUE DATE WILL BE SATISFIED. FORM 990, PART VI, SECTION A, LINE 6 MEMBER INSTITUTIONS COMPRISE: 1) ALLEN UNIVERSITY 2) BENEDICT COLLEGE 3)BENNETT COLLEGE 4) BETHUNE-COOKMAN UNIVERSITY 5) CLAFLIN UNIVERSITY 6) CLARK ATLANTA UNIVERSITY 7) DILLARD UNIVERSITY 8) EDWARD WATERS COLLEGE 9) FISK UNIVERSITY 10) FLORIDA MEMORIAL UNIVERSITY 11) HUSTON-TILLOTSON UNIVERSITY 12) INTERDENOMINATIONAL THEOLOGICAL CENTER 13) JARVIS CHRISTIAN COLLEGE 14) JOHNSON C. SMITH UNIVERSITY 15) LANE COLLEGE 16) LEMOYNE-OWEN COLLEGE 17) LIVINGSTON COLLEGE 18) MILES COLLEGE 19)MOREHOUSE COLLEGE 20) MORRIS COLLEGE 21) OAKWOOD UNIVERSITY 22) PAINE COLLEGE 23) PHILANDER SMITH COLLEGE 24) RUST COLLEGE 25) SAINT AUGUSTINE UNIVERSITY 26) SHAW UNIVERSITY 27) SPELMAN COLLEGE 28) STILLMAN COLLEGE 29) TALLADEGA COLLEGE 30) TEXAS COLLEGE 31) TOUGALOO COLLEGE 32) TUSKEGEE UNIVERSITY 33) VIRGINIA UNION UNIVERSITY 34) VOORHEES COLLEGE 35) WILBERFORCE UNIVERSITY 36) WILEY COLLEGE 37) XAVIER UNIVERSITY FORM 990, PART VI, SECTION A, LINE 7A THE 37 MEMBER INSTITUTIONS, VIA THEIR PROXIES, ELECT ALL DIRECTORS TO THE BOARD. Form 990, Part VI, Line 7b UNCFs Bylaws provide that its Members elect the Board of Directors and other members; determine how budgeted funds for the Members are allocated among the members; and provide direction regarding activities and programs. FORM 990, PART VI, SECTION B, LINE 11B THE AUDIT COMMITTEE REVIEWS AND APPROVES THE FILING OF FORM 990 ON BEHALF OF THE UNCF BOARD. A DETAILED REVIEW IS ALSO PERFORMED BY MANAGEMENT AND UNCFs OUTSIDE TAX PREPARERS. A COPY OF THE COMPLETED FORM 990 IS MADE AVAILABLE ELECTRONICALLY TO ALL BOARD MEMBERS BEFORE THE RETURN IS FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY IS DISTRIBUTED ANNUALLY BY THE GENERAL COUNSEL TO BOARD MEMBERS, OFFICERS AND EMPLOYEES. EACH BOARD MEMBER, OFFICIER AND EMPLOYEE IS ASKED TO COMPLETE, SIGN AND RETURN A DECLARATION WHICH IDENTIFIES ANY POTENTIAL CONFLICTS OF INTEREST. DECLARATION FORMS FOR EMPLOYEES AND THOSE EMPLOYEES SERVING AS OFFICERS ARE REVIEWED BY COMMITTEE (GENERAL COUNSEL, CFO AND HEAD OF HUMAN RESOURCES) WHO THEN RECOMMENDS THE APPROPRIATE AND NECESSARY ACTION. DECLARATION FORMS OF BOARD MEMBERS, EMPLOYEES SERVING AS OFFICERS AND UNCF EXECUTIVES ARE PROVIDED TO THE CHAIR OF THE AUDIT COMMITTEE FOR REVIEW AND APPROPRIATE AND NECESSARY ACTION BY SAID COMMITTEE. DECLARATION FORMS OF BOARD MEMBERS AND LEADERSHIP TEAM MEMBERS ARE PROVIDED TO THE CHAIR OF THE AUDIT COMMITTEE FOR REVIEW AND APPROPRIATE AND NECESSARY ACTION BY SAID COMMITTEE. FORM 990, PART VI, SECTION B, LINE 15 THE ROLE OF THE HUMAN RESOURCES AND COMPENSATION COMMITTEE (HRCC) OF THE BOARD OF DIRECTORS IS TO DISCHARGE THE BOARD'S RESPONSIBILITIES RELATING TO COMPENSATION OF UNCF'S PRESIDENT AND CEO, OFFICERS AND KEY EMPLOYEES. THE COMMITTEE IS COMPRISED OF TWO (2) INSTITUTIONAL DIRECTORS AND FOUR 4) INDEPENDENT CONTRACTORS OF WHICH THE CHAIRPERSON HOLDS ONE SEAT. THE COMMITTEE UTILIZES COMPARABILITY STUDIES PRODUCED BY AN EXTERNAL COMPENSATION CONSULTING FIRM TO MAKE THEIR COMPENSATION ASSESSMENTS AND DECISIONS. THE COMMITTEE MANAGES THE RELATIONSHIP WITH THE CONSULTANT AND HAS SOLE AUTHORITY TO RETAIN AND TERMINATE THEIR SERVICES. IN EXECUTIVE SESSION, HRCC FINDINGS AND DECISIONS ARE REPORTED TO THE BOARD. FORM 990, PART VI, SECTION C, LINE 19 COPIES OF UNCF'S CERTIFICATE OF INCORPORATION IS AVAILABLE UPON WRITTEN OR VERBAL REQUEST. FINANCIAL DOCUMENTS SUCH AS FORM 990 AND AUDITED FINANCIAL STATEMENTS ARE AVAILABLE ON UNCF'S WEBSITE OR THE WEBSITE OF OTHERS OR UPON WRITTEN OR VERBAL REQUEST. UNCF'S CONFLICT OF INTEREST POLICY IS NOT AVAILABLE TO THE PUBLIC. FORM 990, PART X, LINE 27 THE END OF YEAR "NET ASSETS WITHOUT DONOR RESTRICTIONS" AMOUNT REPORTED IN THE BALANCE SHEET IS $1,343,562 COMPARED TO THE BALANCES REPORTED ON THE 2018 AND 2017 FORM 990 OF ($2,278,596) AND ($3,909,847), RESPECTIVELY. THE CURRENT POSITIVE BALANCE OF $1,343,562 IS MORE IN LINE WITH UNCF'S HISTORICAL TREND. THE ANAMOLY FROM 2017 THAT CAUSED THE NEGATIVE BALANCE OF ($3,909,847) STEMMED FROM AN ACCOUNTING RECLASSIFICATION OF DISCONTINUED PROGRAMS FROM "NET ASSETS WITH DONOR RESTRICTIONS." THE NEGATIVE BALANCE IN 2018 WAS REDUCED AND OFFSET BY POSITIVE OPERATING RESULTS FOR THE YEAR. OVER THE LAST 3 YEARS OPERATING CASH FLOW OF THE ORGANIZATION HAS REMAINED POSITIVE AND UNAFFECTED BY THIS ADJUSTMENT. UNCF HAS BEEN IN BUSINESS SINCE 1944 AND AS AN ORGANIZATION IT HAS GROWN IN STATURE WITH STRONG BRAND RECOGNITION AND CONTINUOUS DIVERSIFIED REVENUE SUPPORT FROM CORPORATIONS, FOUNDATIONS, INDIVIDUALS GIFTS AND OTHER SOURCES. UNCF CONTINUES TO BE RELEVANT AND A BEACON OF HOPE FOR STUDENTS WHO HAVE THE DESIRE BUT NOT THE MEANS TO EXPAND THEIR LIVES AND FUTURES THROUGH A SUPPORTED COLLEGE EDUCATION. FORM 990, PART X, LINE 28 "NET ASSETS WITH DONOR RESTRICTIONS" COMPRISES THE UNSPENT PORTION OF CONTRIBUTIONS AND GIFTS RECEIVED BY UNCF BUT RESTRICTED BY THE DONOR TO BE USED FOR THE PURPOSES SUMMARIZED BELOW: 2018 2019 SCHOLARSHIPS AND SPECIAL PROJECTS $161,292,987 $148,107,524 PERPETUAL IN NATURE 70,310,029 71,654,149 GATES MILLENIUM SCHOLARS PROGRAM (GMSP) 328,931,975 258,352,986 ------------- ---------- NET ASSET BALANCE $560,534,991 $478,114,659 REGARDING THE GATES MILLENNIUM SCHOLARS PROGRAM (GMSP) - THE MOST EXTENSIVE SCHOLARSHIP PROGRAM IN UNCF'S HISTORY WAS AWARDED TO US IN 1999 BY THE BILL AND MELINDA GATES FOUNDATION FOR $1.3 BILLION. THIS 20-YEAR PROGRAM SUNSETS IN 2028. OVER THE YEARS, UNCF HAS RECOGNIZED OVER $100 MILLION ANNUALLY IN RESTRICTED SCHOLARSHIP REVENUE FROM THIS AWARD. EFFECTIVE IN 2017, REVENUE FROM THIS PROGRAM WAS FULLY RECOGNIZED EXCEPT FOR INTEREST EARNINGS ON OUTSTANDING INVESTMENTS. AS A RESULT, UNCF'S ANNUAL INCOME HAS SLOWLY DECLINED FROM OVER $200 MILLION PER YEAR TO UNDER $100 MILLION PER YEAR. UNCF IS NOT ANTICIPATING ANOTHER $1 BILLION GIFT IN THE NEAR FUTURE, BUT IT WILL CONTINUE TO LEVERAGE ITS STRONG SCHOLARSHIP ADMINISTRATION EXPERIENCE TO SECURE NEW SCHOLARSHIPS AND PROGRAMS TO AUGMENT SERVICES TO ITS MEMBERS AND STUDENTS. GIFT IN THE NEAR FUTURE, BUT IT WILL CONTINUE TO LEVERAGE ITS STRONG SCHOLARSHIP ADMINISTRATION EXPERIENCE TO SECURE NEW SCHOLARSHIPS AND PROGRAMS TO AUGMENT SERVICES TO ITS MEMBERS AND STUDENTS. FORM 990, PART XII, LINE 2C WITH RESPECT TO THE OVERSIGHT OF THE AUDIT, THE RESPONSIBILITY OF REVIEWING AND COMPILING THE FINANCIAL STATEMENTS OF UNCF RESTS WITH THE AUDIT COMMITTEE OF THE BOARD OF DIRECTORS. THERE WERE NO CHANGES IN EITHER THE OVERSIGHT OR SELECTION PROCESS.