The HBCU Foundation supports nearly 300,000 students matriculating on member institution campuses. With federal funds supporting these-schools being cut and 86% of students requiring financial aid assistance, the need for our work is dire and ever-growing. The HBCU Foundation is registered with every charitable regulatory agency in every required state and seeks to operate within the highest industry standards for transparency and efficiency. Our fiscal year begins on January 1 and ends on December 31.
The HBCU Foundation subjects itself to an annual audit and in addition to the filing of all required tax reports, is required to file an IRS 990. The links for the most current reports and filings will be posted here once filed for our current fiscal year.
How the Funds Are Raised
Our fundraising efforts target:
- Federal Government Agencies
- Individual Donors
- Workplace Campaigns
- Direct Marketing
- Fundraising Events
How the Funds Are Used
As a newly-formed 501(c)(3) organization, The HBCU F0undation strives to operate at, or above 75% program to cost and fundraising efficiency.
Program-to-cost efficiency reflects the percent of total expenses a charity spent on its programs compared to the percent of total expenses spent on overhead and fundraising in the year analyzed. Our 2015 program-to-costs goal:
- 75% goes to provide programmatic support
- 15% goes towards administrative costs
- 10% goes towards fundraising