Dr. Michael Lomax
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- Goldman Sachs17 min
Dr. Michael Lomax, President and CEO of the United Negro College Fund
Founded by Mary McLeod Bethune and Tuskegee Institute leaders, the United Negro College Fund supports 101 HBCUs by channeling over $5 billion into scholarships for 500,000 students to convert undeveloped human capital into market-ready assets. Following the 2020 pandemic and racial reckoning, the organization canceled gala events, secured a $40 million pledge to fund specific institutional scholarships, and retained its workforce through salary cuts to minimize student enrollment losses. Now driving a capital campaign to grow its endowment from $100 million to $6 billion, UNCF targets the tenfold funding disparity between HBCUs and elite private institutions while prioritizing experiential learning pipelines for first-generation students entering finance and technology sectors.