African Americans give a larger percentage of their disposable income to non-profits than any other racial group, including Whites. However, there is a lack of literature on Black giving to higher education. This lack of research is particularly acute in our current state of decreased funding to higher education. This case study of the United Negro College Fund's (UNCF) National Pre-Alumni Council (NPAC) explores how organizational identity and social exchange theories apply to African-American students and young alumni of the millennial generation at private-historically Black colleges and universities. The study includes 25 interviews of NPAC participants and advisors from 13 institutions, representing one-third of the UNCF. This research broadens our understanding of how African Americans in the millennial generation think about and choose to act philanthropically and the role that Black colleges play in the cultivation of these behaviors.