MacKenzie Scott has donated tens of millions to HBCUs.

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Philanthropist MacKenzie Scott donated $70 million to the United Negro College Fund last week. The funds will be distributed to private historically Black colleges and universities that are UNCF members.

The $70 million will be spread across 37 member institutions.

Scott’s donation contributes to UNCF’s goal of raising $370 million (as part of a larger $1 billion capital campaign) for a pooled endowment to be split across its membership. UNCF plans to distribute $5 million to each member and work with universities to raise matching funds, in the hopes of “creating a $10 million stake per institution,” with annual distributions of 4 percent.

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