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Billionaire philanthropist MacKenzie Scott has donated $70 million to the United Negro College Fund (UNCF) as part of a broader effort to strengthen HBCUs.
The $70 million donation, publicly disclosed by UNCF and confirmed by Scott's team, is one of the philanthropist's largest single gifts ever and among the first of her donations to be revealed in 2025.
“This extraordinary gift is a powerful vote of confidence in HBCUs and in the work of UNCF,” Dr. Michael L. Lomax, UNCF President and CEO, said in a statement. “It provides a once-in-a-generation opportunity for our member institutions to build permanent assets that will support students and campuses for decades to come.”
The funds will go toward UNCF’s pooled endowment, which is part of a long-term campaign to raise $1 billion to reduce the historic funding gap between HBCUs and predominantly white institutions. Scott’s donation will help establish a $370 million pooled fund, offering $10 million to each of UNCF’s 37 member HBCUs. The endowment is structured to yield about 4 percent annually to help stabilize the institutions' budgets.
Scott's donation comes amid growing calls to address funding inequalities HBCUs face. According to UNCF, data shows that HBCU endowments lag behind non-HBCUs by an average of 70 percent, leaving many schools without the financial cushion needed to weather economic or enrollment challenges. A 2023 study by Candid and ABFE found that the eight Ivy League universities received $5.5 billion from the 1,000 largest U.S. foundations in 2019, compared to just $45 million for all 99 HBCUs combined.
Scott, an author and the ex-wife of Amazon founder Jeff Bezos, signed the Giving Pledge in 2019, promising to donate at least half of her wealth. In 2020, Scott gave $10 million to UNCF, and HBCUs have remained among her most-supported causes. Scott previously said her decisions are “driven by a deep belief in the value different backgrounds bring to problem-solving on any issue.”
Dr. Lomax said he hopes Scott’s gift will inspire other donors to follow suit.
“By entrusting UNCF to decide how best to use these funds, she affirms that HBCUs merit investment at this scale,” Lomax said. “Her generosity will strengthen our member institutions and provide pathways to success for tomorrow’s changemakers.”
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