HBCUs and UNCF made headlines this week as philanthropist MacKenzie Scott dropped a $70 million donation — a move that could change the financial playbook for historically Black colleges and universities.
Scott’s donation is one of the largest single gifts in UNCF history. The plan calls for a pooled endowment that spreads $10 million to each of UNCF’s 37 member schools. In practice, annual payouts — roughly 4 percent — will give HBCUs a steadier financial base to invest in scholarships, facilities, and long-term growth.
“This is a powerful vote of confidence in HBCUs and in the work of UNCF,” UNCF President and CEO Michael L. Lomax said in a statement.
Here’s the reality: HBCUs have been competing at a financial disadvantage for decades. Endowments at Black colleges lag far behind those of predominantly white institutions — in some cases by more than 70 percent. That gap makes it difficult to recruit top faculty, upgrade facilities, or fund scholarships at the same level. As a result, Scott’s $70 million gift helps shift the momentum.
The United Negro College Fund (UNCF) is the nation’s largest and most impactful minority education organization. Since 1944, UNCF has fueled access to higher education for Black students through scholarships, funding, and advocacy. Today, it supports 37 member institutions, making it the backbone of the HBCU network.
Scott has given to HBCUs before — including a $10 million emergency support gift in 2020. However, this donation is different. Unlike past gifts, it is unrestricted, bold, and designed to last for generations.
Other big checks — like the $100 million gift from Lilly Endowment — show how transformational unrestricted giving can be. In addition, Scott’s latest move raises the bar and sends a message to the philanthropic world: invest big, trust HBCUs, and let them lead.
So what does this mean on the ground? For some smaller HBCUs, $10 million in endowment capital is game-changing. Importantly, it means scholarships that students can count on, even in tough times. It also allows schools to keep the lights on during lean years.
Meanwhile, larger institutions can use the funds to expand programs, modernize facilities, and strengthen recruitment. In the long run, the impact is bigger than balance sheets. It’s about stability, vision, and proving that with the right support, HBCUs can keep building on a legacy of excellence.
This isn’t just another donation headline. For UNCF and its 37 member schools, this is a lifeline and a launchpad.
MacKenzie Scott’s $70 million gift isn’t about charity. Instead, it’s about leveling the field, rewriting the narrative, and showing that when HBCUs win, everybody wins.
I was never able to attend an HBCU college but I have always wished I could. I’m 51yrs old now. Since that dream is over for me, I am so happy that the future generation will be able to live out their dreams of attending a HBCU!!! I am also proud of all the wonderful people who care about the HBCU’s and their students so much that they want to help make sure that the schools and students have what they need to continue. Despite what some people in America thinks, HBCU graduates bright, talented, and smart individuals. I am thankful to all that continue to support HBCU colleges!