The HBCU Foundation is a federally recognized 501(c)(3) non-for-profit, charitable organization, whose aim is to provide scholarships, internships and career opportunities to deserving students attending Historically Black Colleges and Universities. The HBCU Foundation’s programs and scholarships increase the likelihood that students will be accepted into college, as well as graduate, fully prepared to lead.
Our mission is multi-fold:
- Partner with our 106 member-schools to increase access, retention and graduation rates of all students
- Identify and adequately equip students attending Historically Black Colleges and Universities who have displayed significant leadership potential
- Create a pipeline for hiring organizations of top-tier, well-rounded, HBCU students and alumni
- Foster a new generation of entrepreneurially and globally-minded, HBCU student and alumni leaders
Today, our member institutions educate nearly 300,000 students at tuitions averaging 30 percent less than those of comparable institutions. Research shows that HBCUs out-perform their larger and better-funded counterpart schools at accepting and graduating low-income students—the students who otherwise might not get a second look based off of often deceptive and prohibitive factors such as test scores.
How Funding Is Used
Funds raised by The HBCU Foundation are used solely for charitable purposes. The activities we support as a result of generous grants and contributions are deemed charitable as defined under the appropriate provisions of the U.S. Internal Revenue Code and Treasury Regulations. As we pursue the foundation’s goals, we take all reasonable measures to fulfill our responsibilities as a tax-exempt charitable organization and we strive to fulfill all oversight responsibilities.
How We Monitor Programs
To ensure the appropriate use of grant funds and compliance with the U.S. tax code and U.S. anti-terrorism laws, the foundation has extensive procedures monitoring the implementation of all grants. These include the following:
1. A Pre-Grant Review.
All potential partner organizations and their programs are assessed by a program officer who discusses the proposed work with the prospective partner and determines the organization’s capacity to undertake it.
2. A Legal Review.
All proposed program proposals and written submissions by the prospective partner organization undergo a legal review.
3. Compliance with U.S. Anti-Terrorism Financing Rules.
Under applicable law, the foundation checks all prospective programs against available lists of terrorist groups. These checks also take place throughout the life of all programs.
4. A Countersigned Program Letter.
This letter establishes a range of program support conditions. Every partner organization is required to sign it.
5. One or More Site Visits.
A program officer from The HBCU Foundation will visit the partner program during the term of the program.
6. Financial and Narrative Reports.
During the program term, program directors are required to submit reports that are reviewed by a program officer and/or a grants administrator for compliance with the term of the grant.