Transformative $70 Million Gift Supports UNCF’s $1 Billion Capital Campaign

by Marlena Chertock | September 24, 2025

benedict campus building — Benedict College

Donation Will Help Grow Endowments at UNCF Member HBCUs

UNCF has received a landmark gift of $70 million from philanthropist MacKenzie Scott that will support our bold $1 billion capital campaign, launched in 2021. The gift will be invested in the UNCF Members Pooled Endowment Fund, which is designed to strengthen the long-term financial health of our 37 member institutions.

“This extraordinary gift is a powerful vote of confidence in HBCUs and in the work of UNCF,” said Dr. Michael L. Lomax, president and CEO, UNCF. “It provides a once-in-a-generation opportunity for our member institutions to build permanent assets that will support students and campuses for decades to come.”

HBCU endowments are significantly smaller than those of predominately white institutions (PWIs), trailing PWI endowments by at least 70%. Scott’s donation ensures that UNCF-member institutions will see a transformative impact on their endowments—each will receive $5 million. To fully leverage this gift, UNCF-member institutions must now launch their matching $5 million campaigns. The pooled funds will be managed in perpetuity and provide annual distributions at a 4% payout rate, providing long-term financial stability for the campuses and their students.

This gift brings UNCF significantly closer to the goal of raising $370 million specifically for the pooled endowment, a critical component of our broader $1 billion capital campaign.

Previously, Scott contributed $10 million to UNCF in 2020, to bolster our emergency reserve fund.

“We are deeply grateful for MacKenzie Scott’s continued support,” Dr. Lomax stated. “By entrusting UNCF to decide how best to use these funds, she affirms that HBCUs merit investment at this scale and her generosity will strengthen our member institutions and provide pathways to success for tomorrow’s changemakers.”

UNCF continues to work to raise $100 million in scholarship endowments, $80 million to increase our operating endowment and $100 million to advance technology across our membership. UNCF intends to build the permanent capacity our institutions need to thrive.