MacKenzie Scott donated $70 million to the UNCF as it works toward a $1 billion campaign to strengthen 37 historically Black colleges and universities. The gift is one of Scott’s largest ever and will go into UNCF’s pooled endowment, aiming to provide $10 million for each member HBCU. UNCF said the fund will be invested to generate annual payouts to stabilize budgets, addressing the 70% endowment gap compared to non-HBCUs. The donation highlights Scott’s continued focus on HBCUs since signing the Giving Pledge in 2019, with her total giving $19.2 billion.
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