ESSENCE MAGAZINE
Billionaire philanthropist MacKenzie Scott has made a historic $70 million donation to the United Negro College Fund, marking one of the largest gifts in the nonprofit's history.
The funding comes as UNCF pushes to raise $1 billion to strengthen 37 of the HBCUs the organization supports.
UNCF President and CEO Dr. Michael L. Lomax calls the contribution "a once-in-a-generation opportunity" to secure the future of Black higher education. The donation will be invested in UNCF's pooled endowment, which aims to build $10 million for each HBCU, helping stabilize budgets and create lasting financial security.
Scott, who signed the Giving Pledge in 2019, has
consistently directed her wealth toward institutions uplifting marginalized communities. She previously gifted UNCF $10 million in 2020 and continues to make HBCUs a
philanthropic priority.
Read more about this donation at ESSENCE.com.
BILLIONAIRE MACKENZIE SCOTT DONATES $70 MILLION DOLLARS TO UNCF TO STRENGTHEN HBCU's
#MacKenzieScott
#GivingPledge
#UNCF
#HBCU