At A Glance

• MacKenzie Scott donated $70 million to the UNCF, one of her largest single gifts ever.
• The donation will help build a $370 million pooled endowment for all 37 HBCUs in the UNCF network.
• HBCUs lag behind non-HBCUs in endowments by 70%, making this gift a major step toward closing funding gaps.
• Since 2019, Scott has given $19.2 billion, with HBCUs among her top priorities.

A Record-Breaking Gift for HBCUs As MacKenzie Scott Donates $70 Million to UNCF to Boost HBCU Endowments

Billionaire philanthropist MacKenzie Scott has given $70 million to the United Negro College Fund (UNCF), marking one of her largest single donations and among the first gifts she has publicly disclosed in 2025. The money will support all 37 historically Black colleges and universities (HBCUs) in UNCF’s network.

Strengthening Financial Futures of HBCUs

UNCF President and CEO Dr. Michael L. Lomax called the donation “a once-in-a-generation opportunity,” noting it will bolster a pooled endowment designed to secure $10 million for each member HBCU. The fund, expected to grow to $370 million, will generate annual payouts to help stabilize campus budgets.

HBCU endowments trail those of non-HBCUs by about 70%, leaving them financially vulnerable. Scott’s gift is part of UNCF’s larger $1 billion fundraising campaign to address historic inequities in higher education funding.

A Pattern of Philanthropy

Scott, who gained much of her fortune from her divorce from Amazon founder Jeff Bezos, has made HBCUs a consistent priority since signing the Giving Pledge in 2019. She gave UNCF $10 million in 2020, and her total giving surpassed $19 billion by the end of 2024, according to Forbes. Her net worth is currently estimated at $34 billion.

Unlike traditional philanthropy, Scott’s donations carry no restrictions on how or when they can be used. Phil Buchanan, president of The Center for Effective Philanthropy, said research shows nonprofits have used Scott’s funds prudently, strengthening organizations rather than destabilizing them.

Why It Matters

A 2023 study found that Ivy League schools received $5.5 billion from major U.S. foundations in 2019, while HBCUs collectively received just $45 million. Scott’s donation signals a shift in who major philanthropists view as worthy of large-scale investment.

“We are deeply grateful for MacKenzie Scott’s continued support,” Lomax said. “Her generosity affirms that HBCUs merit investment at this scale and will provide pathways to success for tomorrow’s changemakers.”