United Negro College Fund Celebrates Record Year

The College Fund (UNCF)
Friday, 27 July 2001

Fairfax, VA - United Negro College Fund President and CEO William H. Gray, III, announced today another banner year for fundraising by The College Fund. For fiscal year 2001, which ended March 31, UNCF raised $178 million, an increase of more than 11 percent over the previous year's mark and setting a new fundraising record for the organization.

"This past year was a very productive one," said Mr. Gray. "It's been productive not just for us at UNCF, but also for the more than 60,000 students who depend on our support so that they can attend college and graduate schools. However, while we are all heartened by the success of this past year, we are constantly reminded of the significant need that remains to be met. We know that there are thousands more young people whose only barrier to a college education is money."

In addition to a record fundraising year, UNCF also continued its commitment to providing educational opportunity with a traditionally low cost ratio. The College Fund's administrative costs of 5.8 percent and fund-raising costs of 8.9 percent combine for a remarkably low cost ratio of just 14.7 percent of revenues. "This means for every dollar UNCF collects in donations, more than 85 cents goes directly to supporting the college ambitions of needy young people," added Mr. Gray.

The United Negro College Fund is the nation's oldest African American higher education assistance organization. UNCF enhances the quality of education by raising operating funds for its 39 member colleges and universities and providing financial assistance to deserving students attending UNCF and other American colleges and universities. UNCF administers more than 450 scholarships and fellowships to students and faculty who attend its member colleges and universities, other HBCUs, and majority institutions throughout the country. Since its founding in 1944, UNCF has raised nearly $1.8 billion to promote higher education and has helped more than 300,000 students earn undergraduate and graduate degrees. For more information about UNCF, visit www.uncf.org and www.uncf.com.

For more information, or to contact The College Fund (UNCF), see their website at: www.uncf.org