2018-11-01T10:13:57-05:00 2018-03-31 KPMG LLP 1676 International Drive Ste 1200 McLean VA 22102 990 2017-04-01 131624241 UNITED NEGRO COLLEGE FUND INC % EARLY REESE UNIT 2028100274 1805 7TH STREET NW WASHINGTON DC 20001 EARLY REESE COO/CFO 2028100215 2018-10-25 true KAY THIES P01404047 7032868000 2018-10-30 167.68.102.5 54028020183055000000 2018-11-01 P EB2737A96B8F377BD085BED9F3BA68158C374A96 0EC6A6295221C4885E2F5088437F364F02511704 2017 2018-06-14 16:35:46Z EARLY REESE 1805 7TH STREET NW WASHINGTON DC 20001 2152269609 false X WWW.UNCF.ORG X 1944 NY SEE SCHEDULE O 37 37 281 2584 -3274 2056 53952100 67822789 195678 247678 25716909 21207523 0 0 79864687 89277990 138164219 130270154 0 0 20833480 20108973 0 0 13688960 24827398 21343642 183825097 171722769 -103960410 -82444779 768838032 684164775 47874108 46911263 720963924 637253512 X UNCF IS BUILDING A PATHWAY OF EDUCATIONAL SUPPORT FROM K-12 THROUGH COLLEGE AND CAREER. THE SCOPE, BREADTH, DEPTH AND VARIETY OF WORK UNCF DOES EXTENDS TO ALL THREE AREAS OF ITS CONCENTRATION 1) OUR 37 MEMBER (HBCUs) HISTORICALLY BLACK COLLEGE & UNIVERSITIES 2) OUR SCHOLARSHIP AND STUDENT PROFESSIONAL DEVELOPMENT PROGRAMS AND 3) OUR ADVOCACY WORK WHICH INCLUDES BOTH OUR ADVOCACY FOR IMPROVED K-12 EDUCATION AND OUR LEADERSHIP IN THE POLICY ARENA. OUR MEMBER HBCUs ARE KNOWN FOR THEIR ACHIEVEMENTS IN UNDERGRADUATE EDUCATION, BUT THEY ALSO HAVE IMPRESSIVE RESULTS IN RESEARCH THAT BENEFITS THEIR STATES, REGIONS, THE COUNTRY AND THE WORLD. WORK OF LARGE SCHOLARSHIPS AND PROGRAMS ESTABLISHED BY BENEFACTORS HAVE ALSO BEEN IMPACTFUL. THIS INCLUDES THE $48 MILLION UNCF FUND II STEM SCHOLARS PROGRAM WHICH SUPPORTS THE EDUCATION OF 500 OF THE COUNTRYS BRIGHTEST AND MOST IMPRESSIVE STEM STUDENTS OF COLOR, AND THE $50 MILLION LILLY ENDOWMENT CAREER PATHWAYS INITIATIVE, A PROGRAM THAT INVESTS IN THE false false 98560514 92682750 GATES MILLENNIUM SCHOLARS PROGRAM 36044420 23424163 Scholarships and special projects Educational delivery reflects direct program expenditures for evaluating eligibility for scholarships and expenses associated with providing technical assistance to member and other institutions. 2022170 Institutional services provided to member institutions of UNCF. 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(AS OF 8/17) 50.0 0.0 X 133509 0 3068 MR MAURICE E JENKINS EVP/CHIEF DEVELOPMENT OFFICER 50.0 0.0 X 294362 0 54397 MS LAJUAN LYLES SENIOR VP/HR & ADMINISTRATION 50.0 0.0 X 234038 0 36158 MR LAWRENCE GRIFFITH JR SVP, SCHOLARSHIPS & PROGRAMS 50.0 0.0 X 243953 0 26336 DR BRIAN BRIDGES VP, RESEARCH & MEMBER ENGAGMNT 50.0 0.0 X 200406 0 38134 MS CHERYL SMITH SVP, PUBLIC POLICY & GOVT AFF 40.0 0.0 X 276002 0 19128 MR FRED D MITCHELL VP DEV. MIDWEST/NORTHERN DIVIS 50.0 0.0 X 172548 0 35593 MR RICHARD M SHROPSHIRE VP, BRANDING, MRKTING, & COMM 50.0 0.0 X 201141 0 9458 MR ROBERT W RUCKER VP, IT & PROJ MGMT OFFICE 50.0 0.0 X 187305 0 20102 3619772 0 565651 47 false true false MOORE WALLACE DBA RR DONNELLEY PO BOX 809284 CHICAGO IL 60680 DT. 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SERVICES OF AN EXTERNAL CONSULTING FIRM ARE ALSO USED TO PERFORM GOVERNMENT AFFAIRS WORK FOR EDUCATION RELATED ISSUES. 1414250 X X X See Sch. D, Part XIII false 97514294 1821032 8893215 4494455 103734086 91155802 278805 10067981 3988294 97514294 96901536 1401039 -3226876 3919897 91155802 89048266 5946432 5859480 3952642 96901536 81917848 2062808 8905683 3838073 89048266 0.04600 0.67700 0.27700 false false 6350000 6350000 22958557 3023123 19935434 3367109 3243897 123212 1338358 692608 645750 27054396 US AND GLOBAL EQUITIES 56805532 F HEDGE FUNDS 20420383 F FIXED INCOME 11586096 F PRIVATE EQUITIES 38093410 F 126905421 0 INSTITUTIONS 7288830 7288830 X 86654442 -2137585 973842 -1163743 87818185 1459805 1459805 89277990 170364854 101890 101890 170262964 1459805 1459805 171722769 SCHEDULE D, PART III, LINE 3E DISTRIBUTIONS IN LINE WITH DONOR'S INTENT SCHEDULE D, PART III, LINE 4 UNCF's collection items amounting to $6,929,250 consisted of 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. During the fiscal year ended March 31, 2018 and 2017, in accordance with the donor's intent, UNCF distributed $175,000 and $5,340,000 of this artwork to member colleges and other entities. As of March 31, 2018, UNCF held the remaining $1,414,250 of this collection within a secured environment for future planned distribution. 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 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, 2018 and 2017, 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. On December 22, 2017 the President of the United States of America signed in Public law 115-97, the Tax Cuts and Jobs Act, which includes several changes relevant to tax exempt organizations, primarily related to unrelated business income, net operating losses, certain new excise taxes, and changes affecting the deductibility of certain expenses. Management is currently in the process of evaluating the new law and the impact it may have on UNCF. Europe (Including Iceland and Greenland) 0 0 Investments 6745600 East Asia and the Pacific 0 0 Investments 16442400 0 0 0 0 23188000 23188000 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, 2018. 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29115 570314374 501(c)(3) 532989 220709 FMV AREA OFF.SUP GRANTS & SCHOLARSHIPS CLARK ATLANTA UNIVERSITY 223 JAMES P BRAWLEY DRIVE ATLANTA GA 30314 581825259 501(c)(3) 1633882 246137 FMV BLOOMBERG GRANTS & SCHOLARSHIPS DILLARD UNIVERSITY 2601 GENTILLY BLVD NEW ORLEANS LA 70122 720408929 501(c)(3) 1130644 220709 FMV AREA OFF.SUP GRANTS & SCHOLARSHIPS EDWARD WATERS COLLEGE 1658 KINGS ROAD JACKSONVILLE FL 32209 591146751 501(c)(3) 481178 220709 FMV AREA OFF.SUP GRANTS & SCHOLARSHIPS FISK UNIVERSITY 1000 17TH AVENUE NORTH NASHVILLE TN 37208 620202000 501(c)(3) 879052 336386 FMV BLOOMBERG GRANTS & SCHOLARSHIPS FLORIDA MEMORIAL UNIVERSITY 15800 NW 42ND AVENUE MIAMI FL 33054 590668483 501(c)(3) 931622 317573 FMV BLOOMBERG GRANTS & SCHOLARSHIPS HUSTON TILLOTSON UNIVERSITY 900 CHICON STREET AUSTIN TX 78702 741180151 501(c)(3) 722715 220709 FMV AREA OFF.SUP GRANTS & SCHOLARSHIPS INTERDENOMINATIONAL THEOLOGICAL CENTER 700 MLK Jr Drive SW ATLANTA GA 30314 580814544 501(c)(3) 369985 220709 FMV AREA OFF.SUP GRANTS & SCHOLARSHIPS JARVIS CHRISTIAN COLLEGE HIGHWAY 80 WEST PO BOX 1470 HAWKINS TX 75765 750995027 501(c)(3) 601454 220709 FMV AREA OFF.SUP GRANTS & SCHOLARSHIPS JOHNSON C SMITH UNIVERSITY 100 BEATTIES FORD ROAD CHARLOTTE NC 28216 250983069 501(c)(3) 395519 220709 FMV AREA OFF.SUP GRANTS & SCHOLARSHIPS LANE COLLEGE 545 LANE AVENUE JACKSON TN 38301 620570060 501(c)(3) 645007 338861 FMV BLOOMBERG GRANTS & SCHOLARSHIPS, TECH ASSIST, ARTIFACT LEMOYNE OWEN COLLEGE 807 WALKER AVENUE MEMPHIS TN 38126 620475690 501(c)(3) 530527 316534 FMV BLOOMBERG GRANTS & SCHOLARSHIPS, TECH ASSIST, ARTIFACT LIVINGSTONE COLLEGE 701 WEST MONROE STREET SALISBURY NC 28144 560603922 501(c)(3) 484470 220709 FMV AREA OFF.SUP GRANTS & SCHOLARSHIPS MILES COLLEGE 5500 MYRON MASSEY BLVD FAIRFIELD AL 35064 630400608 501(c)(3) 450426 220709 FMV AREA OFF.SUP GRANTS & SCHOLARSHIPS, ARTIFACT MOREHOUSE COLLEGE 830 WESTVIEW DRIVE SW ATLANTA GA 30314 580566205 501(c)(3) 2268670 331413 FMV BLOOMBERG GRANTS & SCHOLARSHIPS, ARTIFACT MORRIS COLLEGE 100 WEST COLLEGE STREET SUMTER SC 29150 576000734 501(c)(3) 335837 220709 FMV AREA OFF.SUP GRANTS & SCHOLARSHIPS, ARTIFACT OAKWOOD UNIVERSITY 7000 ADVENTIST Blvd NW HUNTSVILLE AL 35896 630366652 501(c)(3) 1485047 220709 FMV AREA OFF.SUP GRANTS & SCHOLARSHIPS PAINE COLLEGE 1235 15TH STREET AUGUSTA GA 30901 237434499 501(c)(3) 296635 220709 FMV AREA OFF.SUP GRANTS & SCHOLARSHIPS PHILANDER SMITH COLLEGE ONE TRUDDIE KIBBE REED DRIVE LITTLE ROCK AR 72202 710239729 501(c)(3) 591936 220709 FMV AREA OFF.SUP GRANTS & SCHOLARSHIPS, ARTIFACT RUST COLLEGE 150 RUST AVENUE HOLLY SPRINGS MS 38635 640303805 501(c)(3) 618073 318368 FMV BLOOMBERG GRANTS & SCHOLARSHIPS, TECH ASSIST, ARTIFACT SAINT AUGUSTINE'S UNIVERSITY 1315 OAKWOOD AVENUE RALEIGH NC 27610 560547478 501(c)(3) 413459 220709 FMV AREA OFF.SUP GRANTS & SCHOLARSHIPS SHAW UNIVERSITY 118 EAST SOUTH STREET RALEIGH NC 27611 560530235 501(c)(3) 691066 220709 FMV AREA OFF.SUP GRANTS & SCHOLARSHIPS, ARTIFACT SPELMAN COLLEGE 350 SPELMAN LANE SW ATLANTA GA 30314 580566243 501(c)(3) 2825472 220709 FMV AREA OFF.SUP GRANTS & SCHOLARSHIPS, ARTIFACT STILLMAN COLLEGE 3601 STILLMAN Blvd PO BOX 1430 TUSCALOOSA AL 35403 630315935 501(c)(3) 374499 316636 FMV BLOOMBERG GRANTS & SCHOLARSHIPS, TECH ASSIST, ARTIFACT TALLADEGA COLLEGE 627 WEST BATTLE STREET TALLADEGA AL 35160 630288870 501(c)(3) 475951 220709 FMV AREA OFF.SUP GRANTS & SCHOLARSHIPS, ARTIFACT TEXAS COLLEGE 2404 NORTH GRAND AVENUE TYLER TX 75712 750917417 501(c)(3) 460969 220709 FMV AREA OFF.SUP GRANTS & SCHOLARSHIPS, ARTIFACT TOUGALOO COLLEGE 500 WEST COUNT LINE ROAD TOUGALOO MS 39174 640303093 501(c)(3) 390002 220709 FMV AREA OFF.SUP GRANTS & SCHOLARSHIPS, ARTIFACT TUSKEGEE UNIVERSITY CARNEGIE HALL 2ND FLOOR TUSKEGEE AL 36088 630288878 501(c)(3) 1086906 336427 FMV BLOOMBERG GRANTS & SCHOLARSHIPS, TECH ASSIST, ARTIFACT VIRGINIA UNION UNIVERSITY 1500 N Lombardy St RICHMOND VA 23220 540524516 501(c)(3) 496789 220709 FMV AREA OFF.SUP GRANTS & SCHOLARSHIPS, ARTIFACT VOORHEES COLLEGE 103 ACADEMIC CIRCLE DENMARK SC 29042 570329786 501(c)(3) 516711 220709 FMV AREA OFF.SUP GRANTS & SCHOLARSHIPS, ARTIFACT WILBERFORCE UNIVERSITY PO BOX 1001 WILBERFORCE OH 45384 310604719 501(c)(3) 588943 220709 FMV AREA OFF.SUP GRANTS & SCHOLARSHIPS WILEY COLLEGE 711 WILEY AVENUE MARSHALL TX 75670 750818183 501(c)(3) 702404 220709 FMV AREA OFF.SUP GRANTS & SCHOLARSHIPS, ARTIFACT XAVIER UNIVERSITY ONE DREXEL DRIVE PO BOX 121 NEW ORLEANS LA 70125 720635884 501(c)(3) 1405402 220709 FMV AREA OFF.SUP GRANTS & SCHOLARSHIPS, ARTIFACT AMERICAN INDIAN GRADUATE CENTER SCHOLARS 3701 SAN MATEO BLVD NE SUITE 200 ALBUQUERQUE NM 87110 850477062 501(c)(3) 11261109 0 GRANTS & SCHOLARSHIPS ASIAN AND PACIFIC ISLANDER AMERICAN SCHOLARSHIP FU 2025 M STREET NW SUITE 610 WASHINGTON DC 20036 571192973 501(c)(3) 15361785 0 GRANTS & SCHOLARSHIPS HISPANIC SCHOLARSHIP FUND 55 SECOND STREET SUITE 1500 SAN FRANCISCO CA 94105 521051044 501(c)(3) 29311297 0 GRANTS & SCHOLARSHIPS The University of West Alabama UWA Station 3 Livingstone AL 35470 636001100 501(c)(3) 250000 0 Career Pathways Tennessee State University 343 3500 John Merrite Blvd Nashville TN 37209 620786119 501(c)(3) 300000 0 Career Pathways Norfolk State University 700 Park Avenue Suite 130 Norfolk VA 23504 237235954 501(c)(3) 300000 0 Career Pathways Morgan State University 1700 E Cloud Spring Lane Truth Hall 201 Baltimore MD 21251 237089143 501(c)(3) 300000 0 Career Pathways Fayetteville State University 1200 Murchinson Road Fayetteville NC 28301 561238736 501(c)(3) 300000 0 Career Pathways BOWIE STATE UNIVERSITY 14000 Jericho Park Road Bowie MD 20715 300002563 501c (3) 175000 FMV ARTWORK Artifact 46 0 Various scholarships 4917 34022252 Stipends, honorariums and fellowships 696 757661 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: 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 POINTS SYSTEM OF 100 POINTS. ACADEMIC PERFORMANCE (GPA), HONORS AND AWARDS, COMMUNITY SERVICE, PAID EMPLOYMENT, LEADERSHIP ACTIVITIES AND ESSAYS ARE 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 479128 0 429657 0 75144 0 126103 0 30058 0 1140090 0 429657 0 MR EARLY REESE COO/ACTING CFO/TREASURER 346047 0 14269 0 13886 0 118900 0 9969 0 503071 0 0 0 MS DESIREE C BOYKIN VP GENL LEGAL COUNSEL/SECRETAR 196702 0 6000 0 1040 0 9154 0 20193 0 233089 0 0 0 MR MAURICE E JENKINS EVP/CHIEF DEVELOPMENT OFFICER 263929 0 11232 0 19201 0 44766 0 9631 0 348759 0 0 0 MS LAJUAN LYLES SENIOR VP/HR & ADMINISTRATION 224818 0 6930 0 2290 0 15827 0 20331 0 270196 0 0 0 MR LAWRENCE GRIFFITH JR SVP, SCHOLARSHIPS & PROGRAMS 228349 0 9400 0 6204 0 16435 0 9901 0 270289 0 0 0 DR BRIAN BRIDGES VP, RESEARCH & MEMBER ENGAGMNT 193703 0 6000 0 703 0 14000 0 24134 0 238540 0 0 0 MS CHERYL SMITH SVP, PUBLIC POLICY & GOVT AFF 243664 0 10500 0 21838 0 16825 0 2303 0 295130 0 0 0 MR FRED D MITCHELL VP DEV. MIDWEST/NORTHERN DIVIS 170000 0 0 0 2548 0 11562 0 24031 0 208141 0 0 0 MR RICHARD M SHROPSHIRE VP, BRANDING, MRKTING, & COMM 194186 0 5930 0 1025 0 0 0 9458 0 210599 0 0 0 MR ROBERT W RUCKER VP, IT & PROJ MGMT OFFICE 176791 0 5410 0 5104 0 0 0 20102 0 207407 0 0 0 Schedule J, Part I, Line 4 IN ACCORDANCE WITH HIS CONTRACT, DR. LOMAX RECEIVED $429,657 IN RETIREMENT FUNDS. THE TERMS AND CONDITIONS OF THE RETIREMENT PLAN FOR DR. LOMAX ARE IN KEEPING WITH THOSE OFFERED BY COMPARABLE INSTITUTIONS AND ARE DESIGNED TO ENSURE HIS LONG TENURE AS AN EFFECTIVE LEADER. THESE MONIES WERE DISBURSED IN ACCORDANCE WITH IRS RULES WHICH STIPULATE THAT TAXES BE PAID AT THE TIME FUNDS VEST. ADDITIONALLY, UNCF DEFERRED $107,203 IN 2017 TOWARD THE NON-QUALIFIED PLAN IN PREPARATION FOR THE NEXT RETIREMENT PAYOUT IN 2020. A District of Columbia 536001131 000000000 2015-08-06 31565000 SEE SCH. K PART VI false false false A 0 0 31565000 0 0 30933700 631300 0 0 0 0 0 2015 false true true true A false false false false 0 false false false false A false true false false false false 0 false 0 false false A false SCHEDULE K, PART I, LINE A, COLUMN F ADVANCE REFUNDING OF EXISTING 2010 BONDS ORIGINALLY ISSUED 12/23/2010. X 1 34715 FMV false true false FORM 990, PART I, LINE 1 ENRICH THE LIVES OF UNDER-REPRESENTED STUDENTS BY GETTING THEM TO AND THROUGH COLLEGE, PROVIDE SUPPORT TO OUR 37 MEMBER INSTITUTIONS AND TO ADVOCATE THE IMPORTANCE OF HIGHER EDUCATION TO MINORITIES. FORM 990, PART V, LINE 3B A SIX MONTH EXTENSION TO FILE FORM 990-T BY FEBRUARY 15, 2019 HAS BEEN SUBMITTED. ALL REQUIREMENTS TO FILE BY THE EXTENDED DUE DATE WILL BE SATISFIED. UNDER THE TAX CUTS AND JOBS ACT, UNRELATED BUSINESS TAXABLE INCOME WAS GENERATED FROM THE QUALIFIED TRANSPORTATION FRINGE BENEFITS PROVIDED BY UNCF TO ITS EMPLOYEES. THIS NEW TAX LAW WAS EFFECTIVE FOR BENEFITS PROVIDED BEGINNING JANUARY 1ST, 2018. 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, 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. 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. 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. THE HRCC PRESENTS ITS FINDINGS TO THE FULL BOARD. IN EXECUTIVE SESSION THE BOARD EVALUATES THE HRCC FINDINGS, DELIBERATES, AND THEN VOTE ON A FINAL DECISION. 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 ON UNCFS WEBSITE OR THE WEBSITE OF OTHERS OR UPON WRITTEN OR VERBAL REQUEST. UNCFS CONFLICT OF INTEREST POLICY IS NOT AVAILABLE TO THE PUBLIC. 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.