"Philanthropist MacKenzie Scott showered historically Black colleges and universities with hundreds of millions of dollars this fall in another one of her signature giving sprees. HBCU leaders say the unrestricted lump sums are a godsend after decades of chronic underfunding-and they're putting them to good use, padding previously meager endowments and funding a wide variety of technology advances, research ventures and scholarships."
"Scott's latest round of donations to HBCUs includes some whopping sums: $80 million to Howard University in Washington, D.C.; $38 million to the University of Maryland Eastern Shore; and $38 million each to Spelman College and Clark Atlanta University in Georgia. Scott gifted $50 million to Virginia State University, $42 million to Alcorn State University in Mississippi, $38 million to Alabama State University and $63 million to Morgan State University in Maryland, marking the largest individual gifts in their histories."
MacKenzie Scott donated hundreds of millions to historically Black colleges and universities, delivering unrestricted lump-sum gifts that strengthen endowments and expand student aid. The donations funded technology upgrades, research centers, endowed chairs and scholarships, and enabled some institutions to save and invest for long-term stability. The latest gifts include major awards such as $80 million to Howard University and multi-million-dollar donations to Spelman, Clark Atlanta, Morgan State and other HBCUs, many marking the largest individual gifts in their histories. The United Negro College Fund received $70 million toward a pooled endowment for 37 institutions. Scott's giving surpassed $1 billion to educational institutions and nonprofits by 2023.
Read at Inside Higher Ed | Higher Education News, Events and Jobs
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