WASHINGTON, DC - UNCF (United Negro College Fund), the nation's largest and most effective minority education organization has announced yesterday (July 21) that it has received a $500,000 grant from the Walmart Foundation to support UNCF's Institute for Capacity Building's (ICB) Fiscal and Strategic Technical Assistance Program (FASTAP). The grant awarded in January 2015 is part of an eight-year commitment of more than $2.7 million from the Walmart Foundation that focuses on financial and administrative management and capacity building of UNCF's 37 member historically black colleges and universities (HBCUs).

Since the beginning of the Walmart Foundation's support of UNCF's ICB, 23 of its member HBCUs have received grants for Reaffirmation Readiness Reviews, focusing on improving financial operations, Interim Five-Year Reaffirmation Readiness Reviews or Deep Dive Institutional Assessments, targeting multiple areas including financial operations, institutional effectiveness, enrollment management and advancement. UNCF have also supported their member institutions by providing High-Priority Technical Assistance which provides the college or university an assigned consultant to assist in various areas of the accreditation process. The suite of services will enable UNCF to serve 8 member institutions during the 2015 grant cycle.

In addition, the grant will support the UNCG Institute for Capacity Building 2015 Institute held on July 20, 2015 in Nashville, TN. The Institute will engage all UNCF member institutions and will focus on the Chief Financial Officers and their role in the accreditation process.

"We are grateful to the Walmart Foundation for their strong investment in UNCF's Institute for Capacity Building and support for our 37 member institutions," said Michael L. Lomax, Ph.D, president and CEO, UNCF. "While only making up three percent of the country's colleges and universities, HBCUs graduates nearly 20 percent of African Americans who earn undergraduate degrees. By investing in their continuous improvement, the Walmart Foundation is committing to ensure that HBCUs are able to invest in better futures for the students who attend these outstanding institutions."

FASTAP was launched by UNCF member institution presidents in 1994 to help their organization strengthen their fiscal management and stability, meet new accreditation standards and improve financial aid program. Today, FASTAP is focused on ensuring the UNCF network is in compliance with accreditation standards and federal financial aid regulations as well as assisting institutions in building capacity in key areas of its academic enterprise.

"Our partnership with the UNCF has spanned several years, and through that time we have been able to help UNCF member schools remain viable, compelling and competitive choices for the growing number of African American and other students of color seeking a college education," said Tony Waller, Senior Director with Walmart.

"UNCF is such a viable entity and important to our success. Not only the money, but also the assistance in getting our reaffirmation done, which will help us be a viable Institution," said Nathaniel Glover, Jr., president of Edward Waters College.

The Walmart Foundation's renewed commitment builds upon Walmart's 2007 grant of $700,000 to UNCF, which served as the catalyst for bringing FASTAP into the organization's Institute for Capacity Building to provide more targeted programming geared to the specific needs of UNCF member institutions. The UNCF Institute for Capacity Building is an institutional improvement initiative that helps member colleges and universities become stronger and more self-sustaining in areas that can make the difference between success and struggle such as student recruitment and retention and fund-raising. In 2010 and 2012-14, the Walmart Foundation presented additional grants of $500,000 to UNCF to further enhance FASTAP through developing new and enhanced interventions.

Today, UNCF supports more than 60,000 students at over 900 colleges and universities.