The HBCU Foundation supports nearly 300,000 students matriculating on member institution campuses. With federal funds supporting many of these-schools being cut and up to 86% of students requiring financial aid assistance, the need for our work is dire and ever-growing. The HBCU Foundation is registered/seeking registration 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 June 6th and ends on June 5th.
The HBCU Foundation files all required tax reports and is required to file an IRS 990-N.
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
In 2019, The HBCU Foundation operates at roughly 60% program to cost and fundraising efficiency. The HBCU Foundation strives to operate at, or above 80% program to cost and fundraising efficiency by end of fiscal year 2020.
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 2020 program-to-costs goal:
- 80% goes to provide programmatic support.
- 15% goes towards administrative costs.
- 5% goes towards fundraising.