Billionaire MacKenzie Scott doubles down on DEI with $42 million donation | Fortune
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Billionaire MacKenzie Scott doubles down on DEI with $42 million donation | Fortune
"MacKenzie Scott's latest round of gifts sends a clear message: Her commitment to diversity, equity, and inclusion remains intact-and she's doubling down on it through major, unrestricted support for scholarship providers serving students of color and underrepresented communities. Recent donations include a $42 million gift to 10,000 Degrees, the Bay Area nonprofit expanding college access for low-income and largely non-white students, alongside eight-figure commitments to Native student scholars and HBCU endowments through UNCF."
"Scott's $42 million donation to 10,000 Degrees marks the largest single gift in the organization's 45-year history, reinforcing her strategy of funding opportunity pipelines for first-generation and low-income students, many of whom are students of color.​ Her recent giving also includes tens of millions for Native Forward, the nation's largest scholarship provider for Native students, signaling continued backing of racial-equity-centered education funds amid broader sector retrenchment on DEI.​"
"In September, Scott donated $70 million to UNCF as part of a campaign to bolster pooled endowments across 37 HBCUs, a move designed to create durable revenue streams and narrow historic wealth and funding gaps versus predominantly white institutions.​ The gift-one of Scott's largest-builds on her earlier support for Black higher education and reflects a multi-year focus on education equity as a cornerstone of her philanthropy."
MacKenzie Scott is directing major, unrestricted philanthropic support toward scholarship providers that serve students of color and underrepresented communities. Major gifts include $42 million to 10,000 Degrees and tens of millions to Native Forward, reinforcing funding pipelines for first-generation and low-income students. A $70 million donation to UNCF aims to bolster pooled endowments across 37 HBCUs to create durable revenue streams and address historic funding gaps. The giving model prioritizes large, fast, trust-based grants with minimal restrictions, enabling grantees to deploy flexible capital to scale access, persistence, and long-term financial stability for underrepresented learners.
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