2016-09-27T16:38:03-07:00 2016-03-31 990 2015-04-01 131624241 UNITED NEGRO COLLEGE FUND INC UNIT 2028100274 1805 7th Street NW Washington DC 20001 Early Reese Chief Operating Officer 2028100274 2016-09-26 2015 2017-02-10 21:41:12Z Dr Michael L Lomax 1805 7th Street NW Washington DC 20001 588833029 0 X www.uncf.org X 1944 NY Build a robust and nationally recognized pipeline of under-represented students who, because of UNCF support, become highly-qualified college graduates and ensure that our network of member institutions is a respected model of best practice in moving students to and through college. 37 37 256 2147 0 0 197925634 231032646 0 171353 23280982 19096347 163140 0 221369756 250300346 124363424 132026503 0 0 18816923 19875107 0 0 13107583 27853763 28351432 171034110 180253042 50335646 70047304 921191373 873406884 147602508 49579435 773588865 823827449 Build a robust and nationally recognized pipeline of under-represented students who, because of UNCF support, become highly-qualified college graduates and ensure that our network of member institutions is a respected model of best practice in moving students to and through college. 0 0 32558610 21092992 0 Educational delivery, General/Other: Direct program expenditures for evaluating eligibility for scholarships, providing technical assistance to member institutions. 107051141 97435883 0 Scholarship Program: Gates Millenium Scholars Program 2005593 0 0 Providing institutional services to member institutions. 19009076 13497628 171353 Unrestricted Member Distributions, information technology and proceeds from rental income from subleases. 19009076 13497628 171353 160624420 1 1 0 1 0 0 0 1 0 1 1 1 0 0 1 1 1 0 0 0 1 0 0 0 1 1 0 1 1 1 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 407 0 1 256 1 0 0 0 0 0 1 1 0 0 0 1 0 X 37 37 0 0 1 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 AK AL AR AZ CA CT DC DE FL GA HI IA ID IL IN KS KY LA MA MD ME MI MN MO MS NC ND NE NH NJ NM NV NY OH OK OR PA RI SC SD TN UT VA VT WA WI WV WY X X X Early Reese 2028100215 1805 7th Street NW Washington DC 20001 Mr William F Stasior Chair of the Board 0 0 X X 0 0 0 Mr Alfred G Goldstein Vice Chair 0 0 X X 0 0 0 Dr Haywood L Strickland Vice Chair 0 0 X X 0 0 0 Mr Kevin W Williams Vice Chair 0 0 X X 0 0 0 Dr Larry L Earvin Vice Chair 0 0 X 0 0 0 Dr A Charles Thomas Board Member 0 0 X 0 0 0 Mr Aloysius Ish Mclaughlin Board Member 0 0 X 0 0 0 Mr Andrew P Swiger Board Member 0 0 X 0 0 0 Dr Beverly Wade Hogan Board Member 0 0 X 0 0 0 Dr Billy C Hawkins Board Member 0 0 X 0 0 0 Dr Brian L Johnson Board Member 0 0 X 0 0 0 Dr Claude G Perkins Board Member 0 0 X 0 0 0 Dr Carlton E Brown Board Member 0 0 X 0 0 0 Ms Celia Colbert Board Member 0 0 X 0 0 0 Dr Cleveland L Sellers Jr Board Member 0 0 X 0 0 0 Mr David Sable Board Member 0 0 X 0 0 0 Ms Dorothy Buckhanan Wilson Board Member 0 0 X 0 0 0 Dr Edison Jackson Board Member 0 0 X 0 0 0 DR George T French Jr Board Member 0 0 X 0 0 0 Ms Glenda Goodly McNeal Board Member 0 0 X 0 0 0 Dr H James Williams Board Member 0 0 X 0 0 0 Ms Jennifer Hunter Board Member 0 0 X 0 0 0 Dr Jimmy R Jenkins Sr Board Member 0 0 X 0 0 0 Mr John K Martin Board Member 0 0 X 0 0 0 Dr John S Wilson JR Board Member 0 0 X 0 0 0 Mr Kevin Rhein Board Member 0 0 X 0 0 0 Mr Kristin Oliver Board Member 0 0 X 0 0 0 Ms Laurie Readhead Board Member 0 0 X 0 0 0 Dr Leslie N Pollard Board Member 0 0 X 0 0 0 Dr Lester C Newman Board Member 0 0 X 0 0 0 Ms Linda Johnson Rice Board Member 0 0 X 0 0 0 Mr Michael Norris Board Member 0 0 X 0 0 0 Mr Milton H Jones Jr Board Member 0 0 X 0 0 0 Dr Peter E Millet Board Member 0 0 X 0 0 0 Dr Ronald L Carter Board Member 0 0 X 0 0 0 Dr Rosalind Fuse-Hall Board Member 0 0 X 0 0 0 Dr Roslyn Clark Artis Board Member 0 0 X 0 0 0 Mr Sol Gindi Board Member 0 0 X 0 0 0 Ms Teresa M Sebastian Board Member 0 0 X 0 0 0 Mr Tobin J Williams Board Member 0 0 X 0 0 0 Ms Tracey Griffin Board Member 0 0 X 0 0 0 Dr Walter M Kimbrough Board Member 0 0 X 0 0 0 Mr William Gipson Board Member 0 0 X 0 0 0 Mr William Shaw Board Member 0 0 X 0 0 0 Dr Michael L Lomax President & CEO 50 0 X 496345 0 188642 Ms Amma Felix VP - Strategy & Secretary 50 0 X 170190 0 6532 Ms Desiree C Boykin General Legal Counsel & Asst Secretary 50 0 X 175114 0 23151 Ms Malvina Rollins Kay Senior VP/CFO/Treasurer 50 0 X 237028 0 8344 Mr Early Reese Chief Operating Officer 50 0 X 362477 0 51914 Mr Maurice E Jenkins Executive VP & Chief Developmt Officer 50 0 X 292816 0 22293 Ms LaJuan Lyles Senior VP, HR & Administration 50 0 X 228182 0 32890 Mr Lawrence Griffith Jr Senior VP, Scholarships & Programs 50 0 X 236751 0 23465 Ms Cheryl Smith Senior VP, Public Policy & Govt 50 0 X 258328 0 17585 Mr Richard M Shropshire VP, Mktg/Branding/Communications 50 0 X 195839 0 8258 Dr Brian Bridges VP, Research & Member Engagement 50 0 X 184681 0 33517 Mr Robert W Rucker VP, IT & Project Mgmt Office 50 0 X 183103 0 17404 Mr Fred D Mitchell VP, Northern Region 50 0 X 175540 0 24313 3196394 0 458308 44 0 1 0 Torch2014 Inc 5555 Melrose Avenue Wilder Building Suite 214 Hollywood CA 90038 National Production 2887140 Moore Wallace DBA RR Donnelley P o Box 809284 Chicago IL 60680 Direct Mail and printing 2117095 Western Asset Management 385 East Colorado Blvd Ste 250 Pasadena CA 91101 Investment Management 1041356 Segue Technologies Inc 2300 Wilson Blvd Suite 420 Arlington VA 22201 Infrastructure Support 730036 Rackspace 1 Fanatical Place City of Windcrest San Antonio TX 78218 Cloud Management 726559 25 1380538 0 7896715 0 0 221755393 34151 231032646 Rental Income 900099 171353 171353 0 0 0 0 0 0 171353 19880691 0 0 19880691 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 333614198 0 334398542 0 -784344 0 -784344 0 0 -784344 4099990 7896715 4099990 0 0 0 34151 34151 0 0 0 0 0 0 0 0 0 250300346 171353 0 19096347 77456556 77456556 54569947 54569947 0 0 0 0 2279975 2279975 13740423 5533258 2728245 5478920 603803 248547 106298 248958 2018882 728820 667389 622673 1232024 439386 352527 440111 4303415 3035763 871692 395960 374044 247116 126928 0 283651 0 283651 0 1515217 1468379 46838 0 2983217 2978656 363 4198 926678 836573 26326 63779 4997920 723578 1362519 2911823 1733768 3325825 -2220526 628469 2778629 1025381 841897 911351 3598724 2704767 425497 468460 2364712 2254321 53516 56875 255425 255425 1125477 301028 824449 Indirect cost recovery 0 2690019 -2690019 0 Bad debt expense 1110555 56500 178049 876006 180253042 160624420 6521039 13107583 8436978 9337316 73581667 76205057 53855123 23973143 4174383 2178756 34355546 5333641 28425503 29021905 650839121 612925490 86320978 110463112 15557620 9302105 921191373 873406884 9547913 8034611 0 0 0 0 25335415 31120000 0 0 0 0 5004688 3897618 0 0 107714492 6527206 147602508 49579435 X 11668674 1954843 694691270 753667646 67228921 68204960 773588865 823827449 921191373 873406884 X 70047304 -13695766 687046 0 0 -6800000 X 0 1 X 1 0 X 164259445 171153742 172247503 197925634 231032646 936618970 0 0 0 0 0 0 0 0 0 0 164259445 171153742 172247503 197925634 231032646 936618970 547369385 389249585 34772302 28744903 23723581 21285047 19880691 128406524 0 0 0 0 0 0 0 0 0 1065025494 516435 0.36548 0.37705 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 0 0 1 12799 0 1 464362 0 0 477161 0 Schedule C, Part II-B, Line 1 Schedule C, Part II-B, Line 1 - UNCF lobbies on behalf of Historically Black Colleges and Universities (HBCUs) and for federal education policies and resources favorable to minority students. Services of an external consulting firm also are used to perform government affairs work for education-related issues. 0 1589250 0 0 X X Distribute to member institutions & like orgs 0 96901536 1401039 -3226876 3919897 0 0 91155802 89048266 5946432 5859480 3952642 0 0 96901536 81917849 2062808 8905683 3838073 0 0 89048267 78290777 1751613 5652030 3776571 0 0 81917849 77952796 2533611 1559575 3755205 0 0 78290777 0.047 0.748 0.205 0 0 0 6350000 6350000 0 22958557 1873004 21085553 0 0 0 0 0 3340511 3043822 296689 0 1706478 416815 1289663 29021905 US and global equities 38026744 F Hedge Funds 26457361 F Fixed Income 12235997 F Private Equities 33743010 F 110463112 0 Accrued distribution to member institutions 6527206 6527206 X 233422534 -13695766 934964 0 0 -12760802 246183336 1515216 2601794 4117010 250300346 176383950 247918 0 0 0 247918 176136032 1515216 2601794 4117010 180253042 Schedule D, Part III, Line 4 Schedule D, Part III, Line 4 - At March 31,2016, UNCF's collection items in the amount of $1,589,250 consisted of donated works of art as received from the Estate of Benny Andrews. UNCF maintains this art collection within a secure museum setting and will distribute the artwork to member colleges and other entities in accordance with the donor's intent. An independent appraisal was used to measure the value of the gift. During the fiscal year UNCF distributed artwork valued at $5,340,000 which correspondingly reduced the prior year amount on hand from $6,929,250 to $1,589,250. Schedule D, Part V, Line 4 Permanent endowment earnings will be spent for scholarships. Board designated and temporarily restricted monies reported in this section are intended for scholarship purposes. Schedule D, Part X, Line 2 Schedule D, Part X, Line 2 - UNCF 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 year ended March 31, 2016 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 2012 and later. Schedule D, Part XI, Line 4b Direct mail expenses netted against direct mail revenue in the audited financial statements. Schedule D, Part XII, Line 4b Direct mail expenses netted against direct mail revenue in the audited financial statements. Europe (including Iceland and Greenland) 0 0 Investments 3332000 East Asia and the Pacific 0 0 Investments 12397000 0 0 15729000 1 1 1 0 1 0 Schedule F, Part I, Line 1 The total reported in column (f) represents the market value of these investments as of March 31, 2016. New Orleans Ball 1037749 877089 160660 0 0 0 33739 64264 62657 Atlanta Ball 1002359 726113 276246 0 0 0 93924 107736 74586 93 9956597 6293513 3663084 0 0 0 2032092 0 1630992 11996705 7896715 4099990 0 0 0 2159755 172000 1768235 4099990 0 34151 34151 34151 0 0 0 34151 34151 0 LA 1 0 1 0 0 1 Malvina Kay 1805 7th Street NW Washington DC 20001 0 0 0 1 Allen University 1530 Harden Street Columbia SC 29204 570341191 501c (3) 208768 113047 FMV Artwork, Area Office Support Grants & scholarships, historical preservation, area office joint campaign Benedict College Harden and Band Streets Columbia SC 29204 570314365 501c (3) 319825 153047 FMV Artwork, Area Office Support Grants & scholarships, historical preservation, area office joint campaign Bennett College for Women 900 East Washington Street Greensboro NC 27401 560532296 501c (3) 257835 177047 FMV Artwork, Area Office Support Grants & scholarships, historical preservation, area office joint campaign Bethune-Cookman University 640 Dr Mary McLeod Bethune Blvd Daytona Beach FL 32114 590704726 501c (3) 570597 93047 FMV Artwork, Area Office Support Grants & scholarships, historical preservation, area office joint campaign Claflin University 400 Magnolia Street Orangeburg SC 29115 570314374 501c (3) 269877 315047 FMV Artwork, Area Office Support Grants & scholarships, historical preservation, area office joint campaign Clark Atlanta University 223 James P Brawley Drive Atlanta GA 30314 581825259 501c (3) 308699 353048 FMV Artwork, Area Office Support Grants & scholarships, historical preservation, area office joint campaign Dillard University 2601 Gentilly Blvd New Orleans LA 70122 720408929 501c (3) 717681 328048 FMV Artwork, Area Office Support Grants & scholarships, historical preservation, area office joint campaign Edward Waters College 1658 Kings Road Jacksonville FL 32209 591146751 501c (3) 391360 48046 FMV Area Office Support Grants & scholarships, area office joint campaign Fisk University 1000 17th Avenue North Nashville TN 37208 620202000 501c (3) 325788 157867 FMV Bloomberg Subscription, Area Office Support Grants & scholarships, tech assist, area office joint campaign Florida Memorial University 15800 NW 42nd Avenue Miami FL 33054 590668483 501c (3) 505963 222123 FMV Artwork, Bloomberg Subscription, Area Office Support Grants & scholarships, historical preservation, tech assist, area office joint campaign Huston Tillotson University 900 Chicon Street Austin TX 78702 741180151 501c (3) 294772 48046 FMV Area Office Support Grants & scholarships, area office joint campaign Interdenominational Theological Center 700 Martin L King Jr Drive SW Atlanta GA 30314 580814544 501c (3) 177564 167046 FMV Artwork, Area Office Support Grants & scholarships, historical preservation, area office joint campaign Jarvis Christian College Highway 80 West Hawkins TX 75765 750995027 501c (3) 239489 122046 FMV Artwork, Area Office Support Grants & scholarships, historical preservation, area office joint campaign Johnson C Smith University 100 Beatties Ford Road Charlotte NC 28216 250983069 501c (3) 314056 169046 FMV Artwork, Area Office Support Grants & scholarships, historical preservtion, area office joint campaign Lane College 545 Lane Avenue Jackson TN 38301 620570060 501c (3) 264805 250467 FMV Artwork and Bloomberg Subscription, Area Office Support Grants & scholarships, historical preservtion, tech assist, area office joint campaign LeMoyne Owen College 807 Walker Avenue Memphis TN 38126 620475690 501c (3) 291162 370478 FMV Artwork and Bloomberg Subscription, Area Office Support Grants & scholarships, historical preservtion, tech assist, area office joint campaign Livingstone College 701 West Monroe Street Salisbury NC 28144 560603922 501c (3) 322359 48046 FMV Area Office Support Grants & scholarships, area office joint campaign Miles College 5500 Myron Massey Blvd Fairfield AL 35064 630400608 501c (3) 255066 120046 FMV Artwork, Area Office Support Grants & scholarships, historical preservtion, area office joint campaign Morehouse College 830 Westview Drive SW Atlanta GA 30314 580566205 501c (3) 249387 242067 FMV Artwork and Bloomberg Subscription, Area Office Support Grants & scholarships, historical preservtion, tech assist, area office joint campaign Morris College 100 West College Street Sumter SC 29150 576000734 501c (3) 205300 208046 FMV Artwork, Area Office Support Grants & scholarships, historical preservtion, area office joint campaign Oakwood University 7000 Adventist Boulevard NW Huntsville AL 35896 630366652 501c (3) 423854 48046 FMV Area Office Support Grants & scholarships, area office joint campaign Paine College 1235 15th Street Augusta GA 30901 237434499 501c (3) 269887 48046 FMV Area Office Support Grants & scholarships, area office joint campaign Philander Smith College One Truddie Kibbe Reed Drive Little Rock AR 72202 710239729 501c (3) 339965 98046 FMV Artwork, Area Office Support Grants & scholarships, historical preservtion, area office joint campaign Rust College 150 Rust Avenue Holly Springs MS 38635 640303805 501c (3) 268463 226507 FMV Artwork and Bloomberg Subscription, Area Office Support Grants & scholarships, historical preservtion, tech assist, area office joint campaign Saint Augustine's University 1315 Oakwood Avenue Raleigh NC 27610 560547478 501c (3) 231199 48046 FMV Area Office Support Grants & scholarships, area office joint campaign Shaw university 118 East South Street Raleigh NC 27611 560530235 501c (3) 292303 273046 FMV Artwork, Area Office Support Grants & scholarships, historical preservtion, area office joint campaign Spelman College 350 Spelman Lane SW Atlanta GA 30314 580566243 501c (3) 264855 171046 FMV Artwork, Area Office Support Grants & scholarships, historical preservtion, area office joint campaign Stillman College 3601 Stillman Boulevard Tuscaloosa AL 35403 630315935 501c (3) 226755 276867 FMV Artwork and Bloomberg Subscription, Area Office Support Grants & scholarships, historical preservtion, tech assist, area office joint campaign Talladega College 627 West Battle Street Talladega AL 35160 630288870 501c (3) 208088 146046 FMV Artwork, Area Office Support Grants & scholarships, historical preservtion, area office joint campaign Texas College 2404 North Grand Avenue Tyler TX 75712 750917417 501c (3) 277464 148046 FMV Artwork, Area Office Support Grants & scholarships, historical preservtion, area office joint campaign Tougaloo College 500 West Count Line Road Tougaloo MS 39174 640303093 501c (3) 314722 353046 FMV Artwork, Area Office Support Grants & scholarships, historical preservtion, area office joint campaign Tuskegee University Carnegie Hall 2nd Floor Tuskegee AL 36088 630288878 501c (3) 364813 307936 FMV Artwork and Bloomberg Subscription, Area Office Support Grants & scholarships, historical preservtion, tech assist, area office joint campaign Virginia Union University 1500 North Lombardy Street Richmond VA 23220 540524516 501c (3) 247254 215046 FMV Artwork, Area Office Support Grants & scholarships, historical preservtion, area office joint campaign Voorhees College 103 Academic Circle Denmark SC 29042 570329786 501c (3) 185906 125046 FMV Artwork, Area Office Support Grants & scholarships, historical preservtion, area office joint campaign Wilberforce University PO Box 1001 Wilberforce OH 45384 310604719 501c (3) 246832 48046 FMV Area Office Support Grants & scholarships, area office joint campaign Wiley College 711 Wiley Avenue Marshall TX 75670 750818183 501c (3) 345563 313046 FMV Artwork, Area Office Support Grants & scholarships, historical preservtion, area office joint campaign Xavier University One Drexel Drive New Orleans LA 70125 720635884 501c (3) 816307 228046 FMV Artwork, Area Office Support Grants & scholarships, historical preservtion, area office joint campaign American Indian Graduate Center Scholars 3701 San Mateo Blvd NE Albuquerque NM 87110 850477062 501c (3) 12062529 0 FMV Grants & scholarships Asian and Pacific Islander American Scholarship Fund 2025 M Street NW Washington DC 20036 571192973 501c (3) 15214853 0 FMV Grants & scholarships Hispanic Scholarship Fund 55 Second Street San Francisco CA 94105 521051044 501c (3) 30892936 0 FMV Grants & scholarships Atlanta University Ctr PO Box 92527 Atlanta GA 30314 200950177 501c (3) 0 24000 FMV Bloomberg Subscription Technical assistance National Museum of African American History & Culture PO Box 37012 MRC 509 Washington DC 20013 363545266 501c (3) 0 377000 FMV Artwork Historical preservation Hampton University 100 E Queen Street Hampton VA 23668 541799400 501c (3) 0 232000 FMV Artwork Historical preservation Howard University 2400 Sixth Street NW Washington DC 20059 530204707 501c (3) 0 60000 FMV Artwork Historical preservation 44 0 Various scholarships 5309 52684927 0 Stipends, honorariums and fellowships 685 1885020 0 Schedule I, Part I, 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: financial need, major, grade point average, residency, community service and other factors mutually agreed upon for each 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. Then items are weighted up to a total points system of 100 points. Items evaluated include academic performance (GPA), honors and awards, community service, paid employment, leadership activities and essays. UNCF follows the agreed upon guidelines and time lines to monitor the use of the funds accordingly. X X X X X 0 1 0 0 0 0 0 0 0 Dr Michael L Lomax President & CEO 436122 0 40000 0 20223 0 161769 0 26873 0 684987 0 0 0 Ms Amma Felix VP - Strategy & Secretary 161854 0 8000 0 336 0 3998 0 2534 0 176722 0 0 0 Ms Desiree C Boykin General Legal Counsel & Asst Secretary 161809 0 12800 0 505 0 6946 0 16205 0 198265 0 0 0 Ms Malvina Rollins Kay Senior VP/CFO/Treasurer 223786 0 11125 0 2117 0 0 0 8344 0 245372 0 0 0 Mr Early Reese Chief Operating Officer 326751 0 32025 0 3701 0 43550 0 8364 0 414391 0 0 0 Mr Maurice E Jenkins Executive VP & Chief Developmt Officer 259115 0 30000 0 3701 0 14587 0 7706 0 315109 0 0 0 Ms LaJuan Lyles Senior VP, HR & Administration 211426 0 14700 0 2056 0 15088 0 17802 0 261072 0 0 0 Mr Lawrence Griffith Jr Senior VP, Scholarships & Programs 218462 0 17200 0 1089 0 15397 0 8068 0 260216 0 0 0 Ms Cheryl Smith Senior VP, Public Policy & Govt 233120 0 22000 0 3208 0 16369 0 1216 0 275913 0 0 0 Mr Richard M Shropshire VP, Mktg/Branding/Communications 182350 0 12600 0 889 0 0 0 8258 0 204097 0 0 0 Dr Brian Bridges VP, Research & Member Engagement 174972 0 9100 0 609 0 12918 0 20599 0 218198 0 0 0 Mr Robert W Rucker VP, IT & Project Mgmt Office 177135 0 3500 0 2468 0 0 0 17404 0 200507 0 0 0 Mr Fred D Mitchell VP, Northern Region 170815 0 3252 0 1473 0 3752 0 20561 0 199853 0 0 0 Schedule J, Part I, Line 4 UNCF deferred $143,219 toward the non-qualified plan on behalf of Dr. Michael L. Lomax, President & CEO in preparation for the next retirement payout in 2017. A District of Columbia 536001131 000000000 2015-08-06 31565000 Advance refunding of existing 2010 bonds originally issued 12/23/2010. 0 0 0 A 0 0 31565000 0 0 30933700 631300 0 0 0 0 0 2015 0 1 1 1 A 0 0 0 0 0 0 0 0 0 0 A 0 1 0 0 0 0 0 0 0 A 1 Schedule K, Part III, Line 9-08/06/2015 31,565,000 District of Columbia The organization is in process of establishing written procedures for its post bond issuance compliance regarding private business use. Schedule K, Part IV, Line 7-08/06/2015 31,565,000 District of Columbia The organization is in process of establishing written procedures for its post bond issuance compliance with respect to Arbitrage matters. X 1 34151 Fair Market Value 0 1 0 Form 990, Part VI, Section A, Line 4 At the October 8, 2015 Meeting of the Institutional and Individual Members of UNCF, Article III, Section 12 of the Bylaws was modified with respect to the responsibilities of the Committee on Nominations. The modified statement is that "The Committee on Nominations shall develop a process to select candidates for Individual Membership, subject to approval by the Executive Committee of the Members prior to each nomination." Form 990, Part VI, Section A, Line 6 Member Institutions comprising: 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) Livingstone 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's 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, Section B, Line 11b The audit committee reviews Form 990 on behalf of the UNCF Board. A detailed review is also performed by management and UNCF's outside accountants. A copy of the completed Form 990 is electronically mailed to all Board Members for review before it is filed. Subsequently it is also made available on the UNCF website. Form 990, Part VI, Section B, Line 12c The Conflict of Interest Policy is distributed annually by the General Counsel to the Board Members and employees. All are asked to sign and return a statement identifying any conflicting interests. Conflicts are reviewed by a committee to include General Counsel, the Chief Financial Officer and Senior Vice President of Human Resources & Administration who then recommend the appropriate and necessary actions. Form 990, Part VI, Section B, Line 15 The Human Resources and Compensation Committee of the Board of Directors role is to discharge the Board's responsibilities relating to compensation of the UNCF's President and CEO, officers and key employees. The Committee comprised of two (2) institutional directors and four (4) independent directors, 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, before the full Board, the Committee presents the findings, then deliberates and votes. Form 990, Part VI, Section C, Line 19 Governing documents such as the bylaws are available upon written or verbal request. Financial documents such as Form 990 and Audited Financial Statements are available from the UNCF website, other websites and upon written or verbal request. UNCF's conflict of interest policy is not available to the public. Form 990, Part XI, Line 9 UNCF exercised the option of defeasance on Series 2010 bonds issued on December 23, 2010. On August 6, 2015, $31,565,000 of District of Columbia special obligation bonds with a lower interest rate of 3.6% were issued to advance refund $25,195,000 of the Series 2010 outstanding bonds. As a result the bonds are considered to be defeased and the liability for those bonds and related unamortized deferred financing costs have been removed from the financial statements. The loss on the defeasance of the Series 2010 bonds was approximately $6,800,000 for the year ended March 31, 2016.