UNCF Deploys 100,000 Dollars in Grants to Advance Wealth-Building at HBCUs
UNCF released findings from its HBCU Wealth-Building Initiative on April 16 and announced Phase II, which includes $100,000 in catalytic grants to three historically Black colleges and universities. The report found that 85 percent of respondents prioritize wealth-building but 30 percent cite limited financial knowledge as a barrier. The initiative is supported by The Prudential Foundation.
UNCF released new findings from its HBCU Wealth-Building Initiative on April 16, 2026, and announced the launch of Phase II, which includes $100,000 in catalytic grants to three historically Black colleges and universities.
The initiative, supported by The Prudential Foundation, aims to shift the focus at HBCUs from financial literacy education to activating 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 of Strategic Partnerships and Institutional Programs at UNCF. "HBCUs have long delivered on mobility. The next frontier is ownership."
The report drew on a year-long engagement with more than 40 HBCUs, including institutional assessments and surveys of students, faculty, and staff. Key findings included:
An aspiration-capability gap: 85 percent of respondents said wealth-building is a priority, but 30 percent cited limited financial knowledge as a barrier. Many were unaware of available institutional resources.
First-year students represent a critical entry point for shaping long-term financial behaviors, particularly among first-generation college students.
Many HBCUs have foundational wealth-building infrastructure in place but lack the integration and measurement systems needed to make a meaningful impact.
Phase II will provide $35,000 each to three institutions to pilot wealth-building strategies. UNCF will also expand its advisory board and develop a national toolkit for adoption across HBCUs nationwide.
"Supporting HBCUs as institutions that build and sustain wealth aligns with our commitment to financial security," said Shane Harris, Prudential's Head of Social Responsibility.
UNCF and Prudential will present the full findings at the 2026 ABFE Harambee Conference. A May 21 webinar will welcome institutions, philanthropists, and experts to learn more about the initiative.
UNCF has raised $6 billion since 1944 to support HBCUs and scholarships, and annually awards more than 13,000 scholarships totaling $64 million.
