Overview

• UNCF will place the donation into a pooled endowment targeting $370 million, or roughly $10 million per member institution.
• The fund is structured to pay out about 4% annually to help stabilize participating HBCUs’ operating budgets over the long term.
• UNCF leaders cast the investment as a vote of confidence in HBCUs and a cornerstone of the organization’s broader $1 billion fundraising effort.
• The push follows persistent funding gaps, with UNCF citing HBCU endowments trailing non-HBCUs by about 70% and a 2019 analysis showing Ivy League schools drew $5.5 billion from major foundations versus $45 million for 99 HBCUs.
• Scott, who previously gave UNCF $10 million in 2020, typically makes large, unrestricted gifts and confirms them after recipients do, and philanthropy researchers report her grants have strengthened organizations without the negative effects critics predicted.