*UNCF will enter its next leadership era with a dramatically larger financial foundation and an ambitious expansion plan already underway.
The organization’s endowment has grown from $60 million to approximately $500 million during Dr. Michael L. Lomax’s tenure as president and CEO. UNCF expects that total to reach $600 million before Lomax leaves the position in June 2027.
Lomax, who has led UNCF since 2004, will retire after more than two decades guiding its work on behalf of historically Black colleges and universities. The organization said its board and Lomax have spent years preparing for the change to avoid disrupting ongoing programs and long-term goals.
“While this marks an important leadership transition, it is not a pause in our work,” Lomax said. “UNCF has tremendous momentum, an ambitious vision for the future and extraordinary support from the philanthropic community, our partners and government leaders.”
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Before stepping down, Lomax will oversee the introduction of UNCF’s 2030 Strategic Plan and continue pushing its capital campaign toward the $1 billion mark. He will then remain connected to the organization for another year as an adviser to the incoming president and CEO.
His tenure produced major gains in fundraising, scholarships and institutional support. UNCF raised more than $4 billion from private and philanthropic donors under Lomax and helped more than 300,000 students pursue or complete college degrees.
Scholarship programs also reached students at more than 600 colleges and universities nationwide. That network includes the 36 HBCUs that hold UNCF membership.
Board Chair Milton H. Jones Jr. said Lomax expanded both UNCF’s influence and the national visibility of HBCUs.
“For more than two decades, he has elevated HBCUs on the national stage, expanded educational opportunity for hundreds of thousands of students, strengthened our member institutions and positioned UNCF for enduring success,” Jones said.
Lomax credited UNCF’s progress to its employees, schools, board members, donors and other supporters.
“Serving as president and CEO of UNCF has been the privilege of a lifetime,” he said.
UNCF plans to recognize Lomax’s contributions throughout the coming transition year, with additional tributes and events to be announced.
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