MacKenzie Scott gifts $70M to UNCF

Philanthropist MacKenzie Scott has donated $70 million to the UNCF (United Negro College Fund) as part of UNCF’s $1 billion capital campaign. The gift will go toward the Members Pooled Endowment Fund, an initiative designed to strengthen the long-term financial health of all 37 Historically Black Colleges and Universities. UNCF officials call the donation “historic,” noting that it will significantly raise endowments at every school. Scott previously contributed $10 million to the UNCF emergency reserve fund. The donations “provide pathways to success for tomorrow’s changemakers,” UNCF President and CEO Dr. Michael L. Lomax said.