MacKenzie Scott Donates $70M to UNCF for HBCUs
MacKenzie Scott has donated $70 million to the United Negro College Fund (UNCF) for private historically Black colleges and universities (HBCUs). The donation will be distributed to 37 UNCF member institutions, supporting their educational missions and financial stability.
UNCF plans to use the funds to create a pooled endowment, with each member institution receiving $5 million. The goal is to raise matching funds, aiming for a $10 million stake per institution. This donation is part of a larger $1 billion capital campaign, with UNCF seeking to raise $370 million in total.
Scott's donation follows a trend of supporting HBCUs and tribal colleges. In 2020, she previously donated tens of millions to these institutions, with individual amounts ranging from $5 million to $40 million. This latest donation, totaling $275 million, benefits 21 HBCUs.
MacKenzie Scott's $70 million donation to UNCF will significantly impact 37 HBCUs, providing them with crucial financial support. UNCF will use these funds to establish a pooled endowment, with each institution receiving $5 million and aiming to raise matching funds. This generous contribution is part of Scott's ongoing commitment to supporting Historically Black Colleges and Universities.
