Responding to a Changing World
One of the reasons for UNCF’s success is its ability
to respond to a transforming market. UNCF partners
with corporations to identify what they require in
tomorrow’s work force. “It helps us find out what businesses are looking for more of from their prospective
employees. We can ask what they’d like to see—
enhanced communications skills? A stronger analytical
background? It keeps our finger on the pulse,” Dr.
Lomax says.
One way that UNCF helps prime students for the
corporate arena is through the Corporate Scholars
Programs, which provide internship opportunities at
Fortune 500 companies and nonprofits. The goal of
the program is to ensure that organizations have a
ready and diverse pool of trained professionals who
can help companies compete in the global marketplace. To date, hundreds of students have participated
in the program, resulting in money for college and
scores of job offers. “Most companies are looking for
talent, and most students are looking for jobs,” Dr.
Lomax says. “In many ways, this is the most cost-effective investment a company can make.”
Jack L. Stahl, chair of UNCF Board of Directors,
concurs: “To be successful, corporate America needs
to be responsive to the needs of the communities it
serves and, to do so, its work force is going to have
to reflect those communities.” As past president and
CEO of Revlon and former president and COO of
Coca-Cola, Stahl has worked with UNCF to create
internship programs,
bringing in diverse
talent that “had a
positive impact not
only on the students,
but on the business
as well.”
“Two-thirds of
the labor market is
U
comprised of women
Dr. Michael L. Lomax and people of color;
this country won’t be able to grow without tapping
into that power,” says Alexis Herman, U.S. Secretary
of Labor under President Bill Clinton, who sits on the
boards of several Fortune 500 companies. “It’s not
only an important value at this point, it’s in our national
self-interest. Companies can’t be global players if they
don’t recognize this huge transition in our midst.”
But now more than ever, financial challenges plague
many racially and ethnically diverse students—the
primary reason these students suspend their studies.
To address this, UNCF administers more than 400
scholarship and internship programs, so students from
low- and moderate-income families can afford the skyrocketing costs of college tuition, books, and room and
board. In 2007, UNCF awarded $80 million in scholarship assistance to deserving students.
One of the most prolific vehicles for this venture is
the Gates Millennium Scholars Program. The initiative, funded by a grant from the Bill & Melinda Gates
MASTERCARD INVESTS IN EDUCATION AND INNOVATION
Fostering educational achievement and promote a greater understanding of our partnership with International Telementor
financial literacy for all are essential global economy,” says MasterCard Chief and Big Brothers Big Sisters;
components of MasterCard’s role as Diversity Officer Janice Burns. “We • Taught financial literacy to underserved
a responsible corporate citizen. Since are continuously working to better the classrooms in the St. Louis area. Each se-
2001, the company has communities in which we live and work— mester, nearly 50 volunteers teach Junior
invested $750,000 and investing in the future through education Achievement curricula;
helped more than 25 andvolunteerism.” •Improved the reading skills and
talented college juniors MasterCard also invests in its confidence of third- and fourth-grade stu-and seniors attend and employees. Each year, 10 scholarship grants dents in schools near the company’s Pur-graduate from one of are awarded globally to the children of chase, N.Y., headquarters.
UNCF’s 39 member MasterCard employees to assist them with The company also recruits from
institutions, through the their undergraduate education. HBCUs and other institutions for business,
MasterCard Scholars Program. Additionally, MasterCard employees finance, accounting, marketing and
“This program underscores our volunteer to help close the educational information technology positions. Hiring,
commitment to promoting education gap among grade-school students. Over developing and educating people of many
and innovation, and it’s part of our active the past year, more than 1,300 Team backgrounds, viewpoints and knowledge
efforts to develop programs that emphasize MasterCard volunteers have: has helped MasterCard remain innovative
diversity, provide access to technology and • Mentored individuals via the Internet, in and competitively strong.
