Mackenzie Scott Donates $70 Million to UNCF

Billionaire philanthropist Mackenzie Scott recently made headlines by donating $70 million to the United Negro College Fund (UNCF), noted for being the leading private supplier of scholarships to Historically Black Colleges and Universities (HBCUs).

This contribution is among Scott’s largest individual donations and marks one of the first to be announced in 2025, following a previous $10 million donation to her organization in 2020.

Michael L. Lomax, the president and CEO of the UNCF, expressed the significance of this gift, stating, “This extraordinary gift is a strong vote of trust in the work of HBCU and UNCF.” He added that it presents a unique opportunity for member institutions to develop lasting assets that will benefit students and campuses for years to come.

Currently, UNCF aids academic pursuits at 37 out of the 107 HBCUs across the country, which include notable institutions like Clark Atlanta University, Morehouse College, and Spelman College.

This increase in funding comes after the previous administration’s decision to cut $350 million for minority service organizations. However, the White House recently announced that nearly $500 million in federal funds will now be redirected to HBCUs and the University of Tribal Management (TCCU).

Scott’s substantial donation will be allocated to a $370 million fund that pools various contributions.

Each HBCU member school is projected to receive around $10 million from these funds, distributed at an approximate 4% annual return, as reported.

In recent years, Scott has made significant donations to HBCUs, supporting individual schools and programs. Notably, she previously donated $52 million to Howard University and $30 million to Hampton University, the latter being the largest single donation in Hampton’s history.

In 2020, Scott mentioned her philanthropic efforts were partly inspired by the clear societal divisions following George Floyd’s death and the subsequent protests against racism and police violence. “I saw the first half of 2020 with a mixture of heartbreak and fear,” she reflected. “Life never stops us from finding fresh ways to expose inequality in our system.”

Scott continued, expressing hope about the potential future if everyone contributes what they can. “Opportunities that emerge from aspects like skin color or zip codes can be a powerful lever for change,” she emphasized.

She also remarked on how recent events could inspire individuals to recognize their privileges and consider sharing resources for the creation of a better world.

In 2020, Scott announced plans to contribute $586 million towards racial equity efforts and $399 million for economic mobility, noting that 91% of organizations focusing on racial equity are led by people of color.

Scott, who was formerly married to Amazon founder Jeff Bezos, committed in 2019 to give away more than half of her wealth.

Gratitude has been expressed by recipients of her funding. “We are deeply grateful for Mackenzie Scott’s continued support,” Lomax stated. “By trusting UNCF with these funds, she’s affirming that HBCUs are deserving of such investment, and her generosity will enhance our member institutions and pave the way for future leaders.”