July 20, 2026
Dr. Lomax has secured billions for HBCUs during his tenure.
The United Negro College Fund (UNCF) has announced that its legendary President and CEO, Dr. Michael L. Lomax, will conclude his historic tenure in June 2027.
The announcement, delivered by UNCF Board Chair Milton H. Jones, Jr., marks the culmination of a 22-year legacy that fundamentally shifted how America invests in historically Black colleges and universities (HBCUs) and minority students.
The transition is the result of a deliberate, multi-year succession plan designed to maintain the organization’s massive strategic momentum, institutional wealth, and unwavering commitment to Black excellence.
“Few leaders have shaped an institution as profoundly as Dr. Lomax has shaped UNCF,” Jones said in a statement shared with BLACK ENTERPRISE.
“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. Thanks to Dr. Lomax’s vision and leadership, UNCF is stronger than ever.”
The $4 Billion Legacy: Elevating the Business of HBCUs
Since taking the helm in 2004, Dr. Lomax has been a powerhouse fundraiser, driving unprecedented corporate partnerships and philanthropic capital into the HBCU ecosystem. Under his watch, UNCF transformed from a traditional scholarship fund into a financial juggernaut and a premier advocate for educational equity.
Key milestones of his transformational leadership include:
- The Billion-Dollar Standard: Raised more than $4 billion from private and philanthropic sources to support Black students and institutions.
- A 10X Endowment Surge: Skyrocketed UNCF’s endowment from $60 million to $500 million, with projections to hit $600 million before his departure.
- Massive Student ROI: Helped more than 300,000 students graduate, awarding scholarships to students across 600 U.S. institutions, including UNCF’s 36 member HBCUs.
- Economic Mobility: Positioned HBCUs as vital, non-negotiable engines for workforce development, corporate diversity pipelines, and wealth creation.
Beyond the balance sheets, Lomax reshaped the national narrative around Black colleges, successfully bridging the gap between corporate America, philanthropy, and higher education. Lomax shared his enthusiasm around the organization’s wins with BE at the 2024 UNCF Mayor’s Ball in Atlanta:
Finishing Strong and the Search for the Next Visionary
Lomax isn’t slowing down during his final year. Through June 2027, he will spearhead the rollout of UNCF’s 2030 Strategic Plan and continue driving the organization’s massive $1 billion capital campaign. To guarantee a flawless handoff, Lomax will stay on in a consultative role for a year after his official retirement to support the incoming chief executive.
“Serving as president and CEO of UNCF has been the privilege of a lifetime,” Dr. Lomax said. “Everything we have accomplished has been made possible through the extraordinary partnership of our board, our member institutions, our donors, and the champions who believe deeply in our mission… While this marks an important leadership transition, it is not a pause in our work. UNCF has tremendous momentum.”
The UNCF Board of Directors has already launched a comprehensive national search to identify the next trailblazer capable of building on Lomax’s historic foundation and steering the organization into its next era of growth and multigenerational impact.
About UNCF
Since 1944, UNCF has raised more than $6 billion, helping generations of Black students get to and through college. Awarding more than 13,000 scholarships annually totaling over $64 million, UNCF continues to champion the pipeline of Black professionals and leaders under its iconic banner: “A mind is a terrible thing to waste.” ®
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