MacKenzie Scott Donates $70M to UNCF for HBCUs
MacKenzie Scott, philanthropist and former wife of Amazon founder Jeff Bezos, has donated $70 million to the United Negro College Fund (UNCF) for Historically Black Colleges and Universities (HBCUs). This significant contribution follows her previous donation of $10 million to UNCF in 2020 and is part of her history of supporting HBCUs and tribal colleges with tens of millions of dollars.
The $70 million donation will be distributed among 37 private HBCUs that are members of UNCF. This substantial gift is part of UNCF's larger $1 billion capital campaign, aiming to raise $370 million for a pooled endowment. UNCF plans to use the funds to create a $10 million stake per institution, with annual distributions of 4 percent. This will provide a steady stream of support for these historically Black institutions, helping them to maintain and enhance their educational programs and services.
MacKenzie Scott's latest donation to UNCF underscores her commitment to supporting HBCUs and promoting educational equity. The funds will directly benefit 37 private HBCUs, contributing to their financial stability and enabling them to continue providing quality education to their students.
