Urban Empowerment Fund

The Urban Empowerment Fund (UEF) is a nonprofit organization dedicated to enhancing the economic landscape for Minority Business Enterprises (MBEs) in the United States. Its mission is to facilitate access to capital, provide business advisory services, and advocate for policies that improve the business environment for these enterprises.

Purpose

The UEF focuses on supporting MBEs by offering resources that help them survive, prosper, grow, create jobs, and generate economic activity. This includes providing capital access solutions and strategic business guidance to empower minority-owned businesses across various sectors.

Financial Overview

Historically, the UEF has derived its revenue primarily from contributions, with no significant income from program services, investments, or other sources. The organization has reported substantial executive compensation relative to its total expenses. For example, in fiscal years ending in 2016 and 2017, executive compensation constituted a significant portion of the organization's expenses.

Leadership and Governance

The UEF operates under a board of directors and key officers. Notable figures have included Donald E. Bowen as President and CEO, and Marc H. Morial as a board member, among others. The organization is governed by a board that oversees strategy and operations.

Certification and Recognition

As of recent developments, the National Urban League's Urban Empowerment Fund has been certified as a Community Development Financial Institution (CDFI). This certification acknowledges the fund's role in providing financial services to economically disadvantaged communities and helping to promote economic growth and stability.

Impact

The UEF's efforts are aimed at fostering economic empowerment and job creation within urban communities by supporting minority business development. By facilitating access to capital and providing advisory services, the UEF plays a crucial role in promoting urban economic development and social equity.

The Urban Empowerment Fund operates under the category of Community Improvement and Urban, Community Economic Development, aligning with its mission to enhance urban economic conditions through business empowerment.