Overview

• UNCF says the donation will go into its Members Pooled Endowment Fund, which it projects will generate roughly 4% annually to strengthen long-term stability.
• Each institution is set to receive a $5 million initial stake, with UNCF partnering to raise a $5 million match to build a $10 million endowment position per school.
• The contribution moves UNCF closer to its $370 million pooled-endowment target within a $1 billion campaign launched in 2021, which still seeks $100 million for scholarship endowments, $80 million for UNCF’s operating endowment, and $100 million for technology.
• Scott previously gave $10 million to UNCF in 2020, bringing her total support to $80 million, which UNCF leadership described as a vote of confidence in HBCUs.
• UNCF highlights persistent funding gaps, citing HBCU endowments trailing non-HBCUs by nearly 70% and a 2023 Candid/ABFE study showing far lower foundation funding for HBCUs in 2019.