2015-08-17T17:12:37-07:00 2015-03-31 990 2014-04-01 131624241 UNITED NEGRO COLLEGE FUND INC UNIT 2028100274 1805 7th Street NW Washington DC 20001 Malvina Kay SVP & CFO 2028100274 2015-08-15 2014 2016-03-07 17:11:31Z Michael Lomax 1805 7th Street NW Washington DC 20001 568932972 0 X www.uncf.org X 1944 DC 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. 43 22 241 3800 0 0 172247503 197925634 0 0 34118157 23280982 2150529 163140 208516189 221369756 124570998 124363424 0 0 17420053 18816923 0 0 12132427 26439599 27853763 168430650 171034110 40085539 50335646 976195798 921191373 261153596 147602508 715042202 773588865 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 28957564 15392942 0 Educational delivery, General/Other: Direct program expenditures for evaluating eligibility for scholarships, providing technical assistance to member institutions. 103944091 94457716 0 Scholarship Program: Gates Millenium Scholars Program 2403406 0 0 Providing institutional services to member institutions. 14512766 14512766 163140 Unrestricted Member Distributions and proceeds from rental income from subleases. 14512766 14512766 163140 149817827 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 1 507 0 1 241 1 0 0 0 0 0 1 1 0 0 0 0 X 43 22 0 0 0 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 Malvina Kay 2028100274 1805 7th Street NW Washington DC 20001 Mr William F Stasior Chair of the Board 0 0 X 0 0 0 Mr Alfred G Goldstein Vice Chair 0 0 X 0 0 0 Mr Kevin W Williams Vice Chair 0 0 X 0 0 0 Dr Larry L Earvin Vice Chair 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 Daniel Tatum 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 Claude G Perkins Board Member 0 0 X 0 0 0 Dr Carlton E Brown Board Member 0 0 X 0 0 0 Ms Carolyn House Stewart 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 Dr David H Swinton Board Member 0 0 X 0 0 0 Ms Dorothy Buckhanan Wilson Board Member 0 0 X 0 0 0 Dr Dwight Fennell Board Member 0 0 X 0 0 0 Dr Edison Jackson Board Member 0 0 X 0 0 0 Dr George C Bradley 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 Dr Haywood L Strickland 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 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 Lloyd Howell Jr 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 Mr Nathaniel Glover Board Member 0 0 X 0 0 0 Mr Reed Hundt Board Member 0 0 X 0 0 0 Dr Ronald L Carter 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 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 and CEO 50 0 X 1113708 0 196422 Ms Amma Felix Secretary 50 0 X 164969 0 9982 Ms Desiree C Boykin General Legal Counsel/Asst Secretary 50 0 X 166101 0 19025 Ms Malvina Rollins Kay SVP, Chief Financial Officer/Treasurer 50 0 X 210328 0 15603 Mr Early Reese EVP 50 0 X 349362 0 29414 Mr Maurice E Jenkins SVP-Southern Region 50 0 X 284446 0 28803 Ms LaJuan Lyles SVP-CAO 50 0 X 215205 0 31360 Mr Lawrence Griffith Jr VP-GMSP 50 0 X 207742 0 26213 Ms Cheryl Smith SVP-Public Policy & Government 50 0 X 242592 0 31200 Mr Richard M Shropshire VP -Mktg, Branding & Communication 50 0 X 193903 0 14618 Mr Robert W Rucker VP-Compliance & Information Tech 50 0 X 177909 0 19774 Mr Brian Bridges VP Patterson Research 50 0 X 166798 0 29364 Mr Fred D Mitchell Regional Development Director-NY 50 0 X 162642 0 24648 3655705 0 476426 43 0 1 0 Segue Technologies Inc 2300 Wilson Blvd Suite 420 Arlington VA 22201 Infrastructure Support 791725 Torch2014 Inc 5555 Melrose Avenue Wilder Building Suite 214 Hollywood CA 90038 National Production expenses 3239805 Moore Wallace DBA RR Donnelley P o Box 809284 Chicago IL 60680 Direct Mail and printing 2453056 Western Asset Management 385 East Colorado Blvd Ste 250 Pasadena CA 91101 Investment Management Fees 1184848 The Advertising Council Inc 815 Second Avenue New York NY 100174503 Advertising Services 899145 25 1622563 0 7191774 0 867740 188243557 95334 197925634 0 21285047 0 0 21285047 0 0 0 0 0 0 0 0 163140 0 0 0 163140 0 163140 163140 0 0 345785907 0 343789972 0 1995935 0 1995935 0 0 1995935 3733614 7191774 3733614 0 0 0 39630 39630 0 0 0 0 0 0 0 0 0 221369756 163140 0 23280982 70837798 70837798 53525626 53525626 2913717 2913717 0 12470815 4931822 2611905 4927088 558720 201077 137716 219927 1652289 643456 419033 589800 1221382 390842 403056 427484 4963825 2155713 2270872 537240 266451 111803 154648 0 303549 0 303549 0 1693749 1645893 47856 0 2825799 2804039 21760 0 1252160 1163889 88271 0 5095040 788197 1390813 2916030 0 1147699 -1659654 511955 3165965 1153907 1084893 927165 3096952 2377430 292421 427101 2765168 2380052 140627 244489 235161 0 235161 0 1109324 301028 404148 404148 Indirect cost recovery 0 2176936 -2176936 0 Bad debt expense 1080620 1080620 0 0 171034110 149817827 9083856 12132427 5832195 8436978 78091215 73581667 36106251 53855123 0 0 0 0 3364911 4174383 32934686 4509183 29174027 28425503 741543971 650839121 65597851 86320978 16485377 15557620 976195798 921191373 11266959 9547913 0 0 0 0 25723258 25335415 0 0 0 0 6333171 5004688 0 0 217830208 107714492 261153596 147602508 X 11341868 11668674 642317845 694691270 61382489 67228921 715042202 773588865 976195798 921191373 50335646 7739143 471874 0 0 0 X 0 1 X 1 0 X 160965772 164259445 171153742 172247503 197925634 866552096 0 0 0 0 0 0 0 0 0 0 0 0 160965772 164259445 171153742 172247503 197925634 866552096 484172022 382380074 38717596 34772302 28783272 23867154 21448187 147588511 0 0 0 0 0 0 0 0 1014140607 0.37705 0.36060 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 1 0 1 2566 0 0 1 425027 0 1 200000 627593 0 Schedule C, Part II-B, Line 1 UNCF lobbies on behalf of Historically Black Colleges and Universities (HBCU's) and for federal policies and resources favorable to minorities and other students. Services of an external consultant are also used to perform government affairs consulting work for educational causes. 0 6929250 0 0 X X Distribute artwork to member colleges 0 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 70580605 2784007 8744659 4156475 0 0 77952796 0.0485 0.6938 0.2577 0 0 0 6350000 6350000 0 22417575 1307681 21109894 0 0 0 0 0 3254902 2917370 337532 0 912209 284132 628077 28425503 US and Global Equities 38479260 F Hedge Funds 26854296 F Fixed Income 17071494 F Private Equities 3915928 F 86320978 0 Refundable advances from donors 97042405 Accrued distributions to member schools 10672087 107714492 X 225508245 7739144 848194 0 0 8587338 216920907 1693749 2755100 4448849 221369756 166961581 376320 0 0 0 376320 166585261 1693749 2755100 4448849 171034110 Schedule D, Part III, Line 4 -At March 31, 2015, UNCF's collection items amounting to $6,929,250, 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. 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 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, 2015, 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 2011 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 5100000 Central America and the Caribbean 0 0 Investments 15200000 0 0 20300000 1 0 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, 2015. New Orleans Mayors Ball 1135838 709313 426525 0 0 0 89570 170610 166345 Atlanta Mayors Ball 986713 674986 311727 0 0 0 105987 121574 84166 75 8763207 5807475 2955732 0 0 0 1617495 0 1338237 10885758 7191774 3693984 0 0 0 1813052 292184 1588748 3693984 0 39630 39630 39630 0 0 0 39630 39630 0 IN LA 1 0 1 0 0.00 1 Malvina Kay 1805 7th Street NW Washington DC 20001 0 0 0 1 Allen University 1530 Harden Street Columbia SC 29204 570341191 Section 501 (c) (3) 275686 0 Microsoft Invoice Grants and Scholarships Benedict College Harden and Bland Streets Columbia SC 29204 570314365 Section 501 (c) ( 3) 410037 0 Microsoft/Bloomberg Invoice Technology Enhancement Program, Grants and Scholarships Bennett College for Women 900 East Washington Street Greensboro NC 27401 560532296 Section 501 (c)(3) 331535 0 Microsoft Invoice Microsoft Office Software Grants and scholarships Bethune-Cookman University 640 Dr Mary McLeod Bethune Blvd Daytona Beach FL 32114 590704726 Section 501(c)(3) 776107 0 Microsoft Invoice Grants and scholarships Claflin University 400 Magnolia Street Orangeburg SC 29115 570314374 Section 501(c)(3) 374478 0 Microsoft Invoice Grants and scholarships Clark Atlanta University 223 James P Brawley Drive Atlanta GA 30314 581825259 Section 501 (c) (3) 445519 0 Microsoft Invoice Microsoft Office Software Technology Enhancement Program, Grants and Scholarships Dillard University 2601 Gentilly Boulevard New Orleans LA 70122 720408929 Section 501 (c) (3) 716286 0 Microsoft Invoice Grants and scholarships Edward Waters College 1658 Kings Road Jacksonville FL 32209 591146751 Section 501 (c) (3) 510347 0 Microsoft Invoice Grants and scholarships Fisk University 1000 17th Avenue North Nashville TN 37208 620202000 Section 501 (c) (3) 395353 108600 Microsoft Invoice Technology Enhancement Program, Grants and Scholarships Florida Memorial University 15800 NW 42nd Avenue Miami FL 33054 590668483 Section 501 (c) (3) 580242 91200 Microsoft Invoice Microsoft Office Software Technology Enhancement Program, Grants and Scholarships Huston Tillotson University 900 Chicon Street Austin TX 78702 741180151 Section 501 (c) (3) 365186 0 Microsoft Invoice Grants and scholarships Interdenominational Theological Center 700 Martin L King Jr Drive SW Atlanta GA 30314 580814544 Section 501 (c) (3) 233526 0 Microsoft Invoice Grants and scholarships Jarvis Christian College Highway 80 West PO Box 1470 Hawkins TX 75765 750995027 Section 501 (c) (3) 265468 0 Microsoft Invoice Microsoft Office Software Technology Enhancement Program, Grants and Scholarships Johnson C Smith University 100 Beatties Ford Road Charlotte NC 28216 250983069 Section 501 (c) (3) 370304 0 Microsoft Invoice Grants and scholarships Lane College 545 Lane Avenue Jackson TN 38301 620570060 Section 501 (c) (3) 348255 110400 Microsoft Invoice Microsoft Office Software Technology Enhancement Program, Grants and Scholarships LeMoyne Owen College 807 Walker Avenue Memphis TN 38126 620475690 Section 501 (c) (3) 368387 106800 Microsoft Invoice Microsoft Office Software Technology Enhancement Program, Grants and Scholarships Livingstone College 701 West Monroe Street Salisbury NC 28144 560603922 Section 501 (c) (3) 404062 0 Microsoft Invoice Technology Enhancement Program, Grants and Scholarships Miles College 5500 Myron Massey Blvd Fairfield AL 35064 630400608 Section 501 (c) (3) 322439 0 Microsoft Invoice Grants and scholarships Morehouse College 830 Westview Drive SW Atlanta GA 30314 580566205 Section 501 (c) (3) 357427 65305 Microsoft Invoice Microsoft Office Software Technology Enhancement Program, Grants and Scholarships Morris College 100 West College Street Sumter SC 29150 576000734 Section 501 (c) (3) 260676 0 Microsoft Invoice Technology Enhancement Program, Grants and Scholarships Oakwood University 7000 Adventist Boulevard NW Huntsville AL 35896 630366652 Section 501 (c) (3) 481219 0 Microsoft Invoice Technology Enhancement Program, Grants and Scholarships Paine College 1235 15th Street Augusta GA 30901 237434499 Section 501 (c) (3) 320214 0 Microsoft Invoice Technology Enhancement Program, Grants and Scholarships Philander Smith College One Truddie Kibbe Reed Drive Little Rock AR 72202 710239729 Section 501 (c) (3) 457103 0 Microsoft Invoice Grants and scholarships Rust College 150 Rust Avenue Holly Springs MS 38635 640303805 Section 501 (c) (3) 319676 91200 Microsoft Invoice Microsoft Office Software Technology Enhancement Program, Grants and Scholarships Saint Augustine's University 1315 Oakwood Avenue Raleigh NC 27610 560547478 Section 501 (c) (3) 351451 0 Microsoft Invoice Grants and scholarships Shaw University 118 East South Street Raleigh NC 27611 560530235 Section 501 (c) (3) 383880 0 Microsoft Invoice Grants and scholarships Spelman College 350 Spelman Lane SW Atlanta GA 30314 580566243 Section 501 (c) (3) 359989 0 Microsoft/Bloomberg Invoice Technology Enhancement Program, Grants and Scholarships Stillman College 3601 Stillman Boulevar POB 1430 Tuscaloosa AL 35403 630315935 Section 501 (c) (3) 280675 89400 Microsoft/Bloomberg Invoice Microsoft Office Software/Bloomberg Terminal Technology Enhancement Program, Grants and Scholarships Talladega College 627 West Battle Street Talladega AL 35160 630288870 Section 501 (c) (3) 253904 0 Microsoft Invoice Grants and scholarships Texas College 2404 North Grand Avenue Tyler TX 75712 750917417 Section 501 (c) (3) 341809 0 Grants and scholarships Tougaloo College 500 West Count Line Road Tougaloo MS 39174 640303093 Section 501 (c) (3) 378168 0 Microsoft Invoice Grants and scholarships Tuskegee University Carnegie Hall 2nd Floor Tuskegee AL 36088 630288878 Section 501 (c) (3) 438205 107289 Mircosoft/Bloomberg Invoice Microsoft Office Software/Bloomberg Terminal Technology Enhancement Program, Grants and Scholarships Virginia Union University 1500 North Lombardy Street Richmond VA 23220 540524516 Section 501 (c) (3) 362887 0 Microsoft/Bloomberg Invoice Technology Enhancement Program, Grants and Scholarships Voorhees College 103 Academic Circle Denmark SC 29042 570329786 Section 501 (c) (3) 230114 0 Microsoft Invoice Microsoft Office Software Technology Enhancement Program, Grants and Scholarships Wilberforce University PO Box 1001 Wilberforce OH 45384 310604719 Section 501 (c) (3) 258901 0 Microsoft Invoice Microsoft Office Software Grants and scholarships Wiley College 711 Wiley Avenue Marshall TX 75670 750818183 Section 501 (c) (3) 394219 0 Microsoft Invoice Microsoft Office Software Grants and scholarships Xavier University One Drexel Drive PO Box 121 New Orleans LA 70125 720635884 Section 501 (c) (3) 802721 0 Microsoft Invoice Microsoft Office Software Grants and scholarships American Indian Graduate Center Scholars 3701 San Mateo Blvd NE Suite 200 Albuquerque NM 87110 850477062 Section 501 (c) (3) 12422906 Microsoft Invoice Microsoft Office Software Grants and scholarships Asian and Pacific Islander American Scholarship Fund 2025 M Street NW Suite 610 Washington DC 20036 571192973 Section 501 (c) (3) 14103002 0 Grants and scholarships Atlanta University Center PO BOx 92527 Atlanta GA 30314 200950177 Section 501 (c) (3) 0 25000 Grants and scholarships Hispanic Scholarship Fund 55 Second Street Suite 1500 San Francisco CA 94105 521051044 Section 501 (c) (3) 29774124 0 Grants and scholarships 41 0 Various scholarships 6859 52618556 0 Stipends, honorariums and fellowships 679 907070 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 X 0 1 0 0 0 0 0 0 0 Dr Michael L Lomax President and CEO 370000 0 60000 0 683708 0 166865 0 29557 0 1310130 0 616088 0 Ms Amma Felix Secretary 158620 0 6000 0 349 0 0 0 9982 0 174951 0 0 0 Ms Desiree C Boykin General Legal Counsel/Assistant Secretary 157615 0 8000 0 486 0 4300 0 14725 0 185126 0 0 0 Ms Malvina Rollins Kay SVP, Chief Financial Officer/Treasurer 208522 0 0 0 1806 0 0 0 15603 0 225931 0 0 0 Mr Early Reese EVP 309298 0 30000 0 10064 0 13027 0 16386 0 378775 0 0 0 Mr Maurice E Jenkins SVP-Southern Region 243081 0 30000 0 11364 0 17977 0 10827 0 313249 0 0 0 Ms LaJuan Lyles SVP-CAO 204649 0 8500 0 2056 0 11065 0 20295 0 246565 0 0 0 Mr Lawrence Griffith Jr VP-GMSP 206701 0 0 0 1041 0 11375 0 14838 0 233955 0 0 0 Ms Cheryl Smith SVP-Public Policy & Government 196384 0 20000 0 26208 0 27992 0 3208 0 273792 0 0 0 Mr Richard M Shropshire VP -Marketing, Branding & Communication 178048 0 15000 0 856 0 0 0 14618 0 208522 0 0 0 Mr Robert W Rucker VP-Compliance and Information Tech 171849 0 3500 0 2559 0 0 0 19774 0 197682 0 0 0 Mr Brian Bridges VP Patterson Research 166294 0 0 0 504 0 9490 0 19874 0 196162 0 0 0 Mr Fred D Mitchell Regional Development Director-NY 157862 0 3252 0 1528 0 3752 0 20896 0 187290 0 0 0 Schedule J, Part I, Line 4 In accordance with his contract, Dr. Lomax received $616,088 in retirement funds for ten full years of service on June 1, 2014. The terms and conditions of Dr. Lomax' retirement benefit are in keeping with those offered by comparable institutions and are designed to assure his long tenure as an effective leader. These monies were disbursed due to changes in IRS rules, which stipulate that taxes be paid at the time the funds vest. The Board decided that the most efficient way to comply with this regulation was to distribute the retirement funds from which taxes can be paid. Additionally, UNCF deferred $154,965 toward the non-qualified plan in preparation for the next retirement payout in 2017. A District of Columbia 536001131 25483VBX1 2010-12-23 25713715 Acquisition of a 50,000 square foot of condominium office space 0 0 0 A 0 0 25713715 0 2586047 0 1135994 0 0 24839081 374634 0 2012 0 0 0 1 A 0 0 0 0 0 0 0 1 0 0 A 0 1 0 0 0 0 0 0 0 A 1 X Sunday Brunch 2 65334 Invoice X Airline Tickets & Other 2 30000 Invoice 0 1 0 Form 990, Part VI, Section A, Line 6 Member Presidents. See details on Form 990 Part VII. Form 990, Part VI, Section A, Line 7a The 38 Member College Presidents elect all board of directors. Form 990, Part VI, Section B, Line 11b The audit committee reviews the 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 made available on the UNCF website for all Board Members to review before it is filed. Form 990, Part VI, Section B, Line 12c The Conflict of interest policy is distributed annually by either the Assistant Secretary or General Counsel of the Corporation to the Board Members and employees. All are asked to sign and return a statement identifying any conflicting interests. Conflicts are reviewed by the Secretary, who then recommends the appropriate actions as necessary. 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 persons, 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.