MacKenzie Scott Gives $70 Million to UNCF to Financially Strengthen HBCUs

Billionaire philanthropist MacKenzie Scott has donated $70 million to the United Negro College Fund (UNCF) to support their initiative to strengthen historically Black colleges and universities (HBCUs). This contribution, one of Scott's largest single donations, will go toward UNCF's pooled endowment aiming to establish a $370 million fund that will provide $10 million for each UNCF member HBCU. The donation is part of UNCF's broader $1 billion fundraising effort to address the significant funding disparity between HBCUs and non-HBCU institutions, as HBCUs trail in endowment size by 70% compared to other colleges.