UNCF

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UNCF, the United Negro College Fund, is an American nonprofit that funds scholarships for Black students and for 37 private historically Black colleges and universities (HBCUs).

It was founded on April 25, 1944, by Frederick D. Patterson, Mary McLeod Bethune, and others to fix funding gaps in Black higher education. Its mission is to build a strong, nationwide pipeline of underrepresented students who become highly qualified college graduates and to help its member colleges be models of best practices in moving students through college.

Headquartered in Washington, D.C., UNCF supports thousands of students across the United States and administers more than 450 named scholarships. Scholarships are open to students of all backgrounds, but the great majority of recipients are African American.

The organization is led by President and CEO Dr. Michael L. Lomax. UNCF is widely known for its motto, “A mind is a terrible thing to waste,” adopted in 1972 and used in its campaigns for decades. It has raised funds through popular events such as the Lou Rawls Parade of Stars (now An Evening of Stars) and other activities like Walk for Education and charity golf tournaments.

Over the years, UNCF has received many notable gifts, including contributions from John F. Kennedy, Walter Annenberg, Lilly Endowment, Reed Hastings (who gave a record $120 million in 2020), and Mackenzie Scott (who donated $70 million in 2025). In 2008, the organization began branding itself with the UNCF initials.

Key financials for 2023 show revenue around $350 million, expenses about $171 million, and an endowment near $154 million. The group remains funded by donors and foundations and works to expand access to higher education for Black students and the institutions that serve them.