MacKenzie Scott Just Dropped Another $70 Million on a Great Cause
Billionaire philanthropist MacKenzie Scott has donated $70 million to the United Negro College Fund, one of the largest private gifts ever made to support historically Black colleges and universities. The money will strengthen 37 HBCUs through a long-term endowment plan aimed at closing the financial gap between them and wealthier institutions. This contribution builds on Scott’s ongoing effort to direct her wealth toward education and equity initiatives across the country. For all her game-changing generosity, it’s intriguing that she’s not at all about the fanfare.
A Billionaire With A Simple Mission
MacKenzie Scott has donated more than $19 billion since 2019. The author and philanthropist gained her fortune after her divorce from Amazon founder Jeff Bezos and has focused on giving most of it away. Her approach to philanthropy is providing large, unrestricted grants and letting organizations decide how to use them. The trust-based model has made her one of the fastest and most independent donors in modern philanthropy.
Her latest $70 million gift goes to the United Negro College Fund (UNCF), the largest private scholarship provider for Black students in the United States. It’s part of a $1 billion fundraising campaign to strengthen 37 historically Black colleges and universities (HBCUs) by building their financial stability and long-term growth.
Why This Donation Hits Different
The donation will help build UNCF’s pooled endowment, a $370 million investment fund that distributes roughly 4% of its value each year to the 37 member schools.
Each HBCU will receive a $10 million share to use for scholarships, faculty development, or campus improvements, half of which is funded by Scott’s donation. The goal is to create permanent financial support that allows these institutions to plan and grow sustainably.
A 2023 study showed that the eight Ivy League universities received $5.5 billion from major foundations, while 99 HBCUs combined received $45 million. Dr. Michael Lomax, president of UNCF, said Scott’s gift sends a strong signal that HBCUs deserve the same level of investment as their peers.
A Lifeline For Struggling Campuses
Image via Wikimedia Commons/SAUFalconsWiki
Saint Augustine’s University in Raleigh, North Carolina, is one of the schools directly benefiting from this. It will receive $5 million from the fund and aims to raise another $5 million in matching support. The university has faced financial and accreditation challenges, and alumni described the donation as a much-needed step toward recovery.
Interim President Dr. Leslie Rodriguez-McClellon said the funds will strengthen academic programs, improve student resources, and support the school’s long-term future.
A Record Of Bold Generosity
Scott’s donation to UNCF adds to a growing list of large gifts to national organizations. Her previous contributions include $84 million to the Girl Scouts, $436 million to Habitat for Humanity, and $275 million to Planned Parenthood. UNCF also received $10 million from her in 2020.
Research from The Center for Effective Philanthropy found that nonprofits receiving Scott’s support have used the funds responsibly and grown stronger as a result. Instead of limiting their operations, the gifts have provided flexibility and stability that allow them to plan beyond short-term survival.
In her effort to promote equity through education, she’s strengthening historically Black colleges and universities and addressing a long-standing funding imbalance that has shaped higher education in the United States.
UNCF leaders hope Scott’s example encourages other major donors to invest in the same way—with trust, scale, and purpose. Scott rarely comments publicly on her philanthropy, but her record shows a clear action pattern.