United Negro College Fund, Inc.
August 25, 2011
It begs questioning by the tax paying public, who underwrites this and all Non-Profits, how the CEO- Dr. Michael Lomax- could be paid compensation in 2009 totaling over $1.2 million. That's triple what the taxpayers pay the President of the United States. Do you think that Mr. Lomax could live on, say, $200,000 per year and allocate the savings toward, oh, I don't know, college scholarships for underserved students? The UNCF appears to be used as a piggy bank by the highest paid employees, all claiming on their Form 990 that they work on average 65 hours per week to justify their high six figure salaries. The tax paying public should demand a full audit of this organization and salary caps of no greater than $100,000 to the CEO- it's supposed to be a Non-Profit charity, not your private piggy bank!!
I've personally experienced the results of this organization in...
Ways to make it better...
If I had to make changes to this organization, I would...
Slash the salary of the CEO to $100,000, and ask the IRS to perform a detailed public audit of employee compensation and expenditures.
General Member of the Public & Tax payer.
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