UNCF Releases Landmark Wealth Building Report and Deploys Catalytic Grants to Advance Institutional Wealth Strategies at HBCUs
Phase II launches with $100,000 in catalytic grants to pilot institutional wealth-building models
ATLANTA, GA, April 16, 2026 (GLOBE NEWSWIRE) -- UNCF released new findings from its HBCU Wealth Building Initiative and announced the launch of Phase II, supported by The Prudential Foundation. This next phase marks a shift from research to execution, including the deployment of $100,000 in catalytic grants to support three HBCUs in designing and implementing institutional wealth-building strategies.
The full report and executive brief are available here.
At a time when higher education is facing intensifying scrutiny around return on investment (ROI), HBCUs are navigating a uniquely acute set of pressures—delivering strong student outcomes with constrained resources while serving as primary engines of economic mobility. This new research reframes the conversation: not simply how institutions support financial literacy, but how they activate wealth-building as a core institutional function.
“This work challenges us to rethink ROI—not just as income, but as the ability to build, sustain, and transfer wealth,” said Ed Smith-Lewis, Senior Vice President, Strategic Partnerships and Institutional Programs, UNCF. “HBCUs have long delivered on mobility. The next frontier is ownership—and our focus now is how institutions intentionally build toward that outcome.”
Anchored in Evidence: From Mobility to Wealth
The HBCU Wealth Building Initiative builds on research from UNCF’s Frederick D. Patterson Research Institute, which demonstrates that HBCUs are among the most effective drivers of social mobility in the nation—outperforming all other institution types and producing mobility outcomes at roughly twice the national average. The findings make clear that while mobility is necessary, it is not sufficient.
The central question now is: How do HBCUs translate mobility into wealth?
This initiative positions HBCUs not only as engines of access and advancement, but as platforms for long-term asset building, financial capability, and generational wealth creation.
Key Findings: A Clear Case for Action
Drawing on a year-long engagement with more than 40 HBCUs—including institutional assessments and surveys of students, faculty, and staff—the report identifies several critical opportunities:
- An Aspiration–Capability Gap
While more than 85% of respondents identify wealth-building as important, over 30% cite limited financial knowledge as a primary barrier, and many are unaware of available institutional resources.
- Early Intervention as a Strategic Lever
First-year students represent a critical entry point for shaping long-term financial behaviors, particularly among first-generation populations.
- Institutions as Wealth-Building Ecosystems
Faculty and staff financial wellness, institutional policies, and access to capital pathways all influence outcomes—extending the role of institutions beyond the classroom.
- Infrastructure Exists, but Activation Lags
Many HBCUs have foundational elements in place, but lack the integration, utilization, and measurement systems needed to drive meaningful impact.
Subject Matter Expert Input
The research process was supported by the HBCU Wealth Building Advisory Board, comprised of leaders whose expertise, guidance, and commitment were instrumental in shaping this work. Advisory Board members include Steven Brown (Aspen Institute); Bill Bynum (Hope Credit Union); Alex Carmadelle (Kindred Futures); Hosetta Coleman (JPMorgan Chase); LaKesha Landers (Clark Atlanta University); Erin Horne McKinney (Howard University); Michael Neal (Urban Institute); Duwain Pinder (McKinsey & Company); Keith Shoates (Student Freedom Initiative); Reena Sood (Prudential Financial); Andrée Taylor (Bank of America Foundation); and Patrice Willoughby (NAACP).
Phase II: Catalyzing Institutional Models for Wealth Creation
Phase II represents a deliberate shift from insight to demonstration—investing in models that can be tested, refined, and scaled.
Key components include:
- $100,000 in Catalytic Grants
Three institutions will receive approximately $35,000 each to pilot innovative, institution-led wealth-building strategies
- Expanded Advisory Infrastructure
The HBCU Wealth Building Advisory Board will grow to include additional expertise in capital strategy, policy, and institutional transformation
- Development of a National Toolkit
Translating pilot insights into actionable frameworks for adoption across HBCUs nationwide
“Supporting HBCUs as institutions that can help build and sustain wealth is a powerful extension of our commitment to expand access to financial security,” said Shané Harris, Prudential’s Head of Social Responsibility and President of the Prudential Foundation. “Through our continued relationship with UNCF, we’re helping to create actionable strategies that support generational wealth building.”
Activating the HBCU Wealth Building Ecosystem
UNCF and Prudential will present the full findings at the 2026 Harambee Conference hosted by ABFE (Association of Black Foundation Executives), engaging philanthropic leaders, institutional partners, and investors to advance coordinated strategies for wealth-building across HBCUs.
In addition, UNCF is hosting an informational webinar for institutions, philanthropists, subject matter experts and other leaders seeking to participate in the next phase of the effort. Additional information on the May 21 webinar can be found here. Institutions can express their interest in participating in the wealth building pilot using the link here.
Throughout the second phase, UNCF will apply lessons learned through the HBCU Wealth Building Initiative to other aligned efforts underway at the organization, including the Pooled Endowment Campaign, Project ACCLAIM, and the HBCU Stock Pitch Competition.
More information on the HBCU Wealth Building Initiative may be found at uncficb.org.
About UNCF
UNCF (United Negro College Fund) is the nation's largest and most effective minority education organization. To serve youth, the community and the nation, UNCF supports students' education and development through scholarships and other programs, supports and strengthens its 37 member colleges and universities, and advocates for the importance of minority education and college readiness. UNCF institutions and other historically black colleges and universities are highly effective, awarding nearly 20% of African American baccalaureate degrees. UNCF administers more than 400 programs, including scholarship, internship and fellowship, mentoring, summer enrichment, and curriculum and faculty development programs. Today, UNCF supports more than 60,000 students at over 1,100 colleges and universities across the country. Its logo features the UNCF torch of leadership in education and its widely recognized trademark, "A mind is a terrible thing to waste."®
About The Prudential Foundation
Established in 1978, The Prudential Foundation has provided grants totaling over $1 billion in support of Prudential Financial’s purpose of making lives better by solving the financial challenges of our changing world. By collaborating with nonprofit organizations that help strengthen neighborhoods, address barriers to economic equality, and create new paths to financial security, The Prudential Foundation is committed to accelerating economic mobility for communities in the U.S. and around the world.
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About UNCF
UNCF is one of the nation’s largest and most effective supporters of higher education and serves as a leading advocate for college-bound students. Since its founding in 1944, UNCF has raised more than $6 billion to support students' access to higher education, provide scholarships and strengthen historically Black colleges and universities (HBCUs). Each year, UNCF awards more than 13,000 scholarships to more than 10,000 students totaling more than $64 million. The scholarships support students attending more than 600 US-based colleges and universities, including 37 UNCF-member HBCUs. Through its efforts, UNCF has helped generations of students to get to and through college. We believe a college education plays a vital role in fortifying the pipeline of leaders and professionals who contribute to the advancement of our society. Our logo features the UNCF torch of leadership in education and our widely recognized trademark is, ‟A mind is a terrible thing to waste.”® Learn more at UNCF.org or for continuous updates and news, follow UNCF on Instagram.
Roy Betts UNCF 240.703.3384 roy.betts@uncf.org
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