AnnuAl RepoRt 2006 Contents Message from the Chair ........................................................................................ 1 Message from the President ................................................................................ 2 Making an Impact ................................................................................................... 3 Educating the Workforce for the Global Economy .................................... 3 Building Capacity at Member Colleges ......................................................... 5 Supporting Communities and Students ....................................................... 8 A Partnership Written in the Stars .............................................................. 10 Major Donors ........................................................................................................... 11 Corporations and Corporate Foundations .................................................. 11 Private and Community Foundations ......................................................... 14 Legacy Donors .................................................................................................... 17 Groups and Unions ........................................................................................... 17 Churches ............................................................................................................. 18 Individuals .......................................................................................................... 18 Sponsorships and Special Events ................................................................. 20 Corporate and Public Employee Campaigns ............................................. 21 Hurricane Katrina Relief Fund ...................................................................... 22 Officers and Directors ........................................................................................ 24 Member Colleges and Universities ................................................................ 26 UNCF Area Offices ................................................................................................ 27 Message from the Chair The UniTed negro College FUnd Now, under the leadership of Michael Lomax and for dollar, donations to UNCF result in more stu- (UNCF) has long been the nation’s largest and most his management team, it is also one of the nation’s dents earning their college degrees. Those UNCF successful higher education assistance organization. best educational and philanthropic investments. graduates go on to become the professionals that Direct support from UNCF helps its 39 member Part of the reason is strong management. The every community needs — and that the national colleges and universities keep tuition costs low financial statements you’ll see in this annual economy depends on. and student-faculty ratios high, allowing students report reflect a decrease in UNCF’s operating On behalf of the board of directors, I am pleased who otherwise might not be able to go to college to costs, making more resources available to help to report that the interests of UNCF member schools RAYMOND V. GILMARTIN benefit from a high-quality education and nurtur- students at UNCF member colleges get the edu- and the students supported by UNCF have never Chair of the Board ing educational environment. cation they need. UNCF’s cost ratio, the ratio of been better served — and that UNCF has never Its hundreds of scholarship and internship operating costs to total revenues, now stands at a been stronger than it is today. programs also support thousands of students at low 11.4 percent. more than 1,300 colleges and universities around Even more important is UNCF colleges’ record the country. That support, combined with the of graduating more students while keeping tuitions resounding success of students in UNCF’s Gates affordable. The average graduation rate at the 39 Millennium Scholars program — the nation’s historically black colleges and universities that largest private scholarship program — has led make up UNCF is substantially higher than the RAYMOND V. GILMARTIN The Chronicle of Philanthropy to cite UNCF as the average African American graduation rate of major- Chair of the Board number one education nonprofit in America.The ity education institutions. And UNCF colleges’ NonProfit Times also named UNCF one of the top tuition is, on average, less than half that charged 100 charitable organizations in the country. by other private colleges. The result is that, dollar 2 0 0 6 A N N U A L R E P O R T 1 Message from the President America hAs never needed the United stature and high profile to strengthen the national Building, our scholarships and our advocacy for Negro College Fund and our 39 historically black commitment to minority education. minority education. colleges and universities as much as it does today. The pages that follow report on the work that And just as our colleges and students look to And UNCF is meeting that need with an ambitious lies ahead — including continuing to provide UNCF for the educational support they need, UNCF campaign to increase and expand our capacity to operational support for member institutions, further looks to our donors to help turn the aspirations of support our member colleges and their students. This developing a unique set of institutional improve- our colleges and students into reality in the future, annual report describes the success of the campaign ment opportunities for our colleges and awarding as they have in the past. Dr. MICHAEL L. LOMAX to date and charts the course that lies ahead. thousands of scholarships to our students — and President and CEO Every year, UNCF makes it possible for more look back on our successes — including launching than 65,000 students to get the college education the Institute for Capacity Building and playing that they need and that the 21st-century economy an important role in the debate over the Higher demands. But there are more students who need Education Act and in securing federal assistance and deserve the education that UNCF colleges to colleges affected by Hurricane Katrina. can offer and more students whose personal and This report concludes, as it should, with a career aspirations are blocked by their inability list of the names of our donors. Because UNCF Dr. MICHAEL L. LOMAX President and CEO to pay for college. receives no public funding, we owe everything we On behalf of these students, UNCF is in the midst have accomplished to the generosity of the indi- of a far-reaching effort to sustain and strengthen viduals, corporations, foundations, churches and our member colleges, increase the number and other organizations whose contributions support value of the scholarships we offer, and use our our member colleges, our Institute for Capacity 2 U N I T E D N EG R O COLLEGE FUND Making an Impact The UniTed negro College FUnd (UnCF), our member colleges and universities, and our donors play a critical role in the future of our nation, communities and individuals by providing high-quality education that prepares students with the skills and knowledge they need to succeed in today’s economy and society. UNCF does this by directly supporting our 39 member institutions, administering more than 400 scholarship programs for students and advocating policies to improve education for African Americans nationwide. On the following pages, we provide a look at some of the many ways UNCF and our generous donors have made an impact over the past year. EDU C AT I N G T H E W O R K F O R ce F O R T H E G L O B A L E C ONO M Y A generation ago, workers with just a high school Yet the percentage of African American stu- UNCF colleges provide a unique resource for diploma could secure jobs that paid enough to support dents who have a college degree is barely half that answering America’s need for skilled workers by a family. But in today’s knowledge-based economy, of the majority population — creating a gap that providing an affordable, high-quality education to a college degree increasingly is a prerequisite for a increases with each age group that moves through those who would otherwise not be able to attend good job that supports a middle-class lifestyle and the education system. As a result, many African college — a mission that dovetails with the aims offers opportunities for advancement. According to Americans are falling behind, and businesses do of many of our donors. the U.S. Bureau of Labor Statistics, 63 percent of the not have a diverse pool of skilled employees to hire 18.9 million new jobs that will be created by 2014 from to meet their needs. will require some postsecondary education. 2 0 0 6 A N N U A L R E P O R T 3 Developing a Diverse Pool of Employees Ensuring Equal Access Donna Funk, vice president of community and When Office Depot was looking to develop a “Our partnership with UNCF helps ensure a more philanthropic services for HSBC — North America. relationship with the universities that build the qualified workforce that we can tap,” says Georgette “Educating tomorrow’s leaders is important, and our intellectual capital of the workforce, the company Dixon, senior vice president of national partner- partnership with UNCF helps provide access to turned to UNCF. “We knew UNCF as a broad-based ships for Wachovia. “But at the end of the day, higher education and internships for many deserv- organization that largely serves African American our goal is to make sure every student has equal ing students.” students,” says