Mackenzie Scott has given more than $500m to historically black colleges. Here’s how donations make an impact

You need to know

• Philanthropist Mackopist Scott has given $500 million to 23 historically black universities across the country

• “On average, institutions selected to receive donations received significantly lower rates than positions that did not receive a donation,” researchers studying the impact of donations wrote in the report.

• Scott committed to giving away most of his profits during his lifetime

Mackenzie Scott has a long, and well-documented, history of philanthropy, including donating millions to historically black colleges and universities across the country.

In 2020, according to a report from Rutger University, Philanthropist and Ex-Fian Bezos gave $560 million to 23 houses.

Analyzing the immediate impact of Scott’s donations, the researchers found that, “on average, the enrollment of new students is higher than students who receive money compared to the grant.”

In addition, institutions that received donations “were found to be fifteen percent higher than positions that did not receive donations,” the researchers said in 2021.

As for what happened to the donation over the years, Atlanta Journal-Constitution recently it was reported that the officials of many colleges will use the $20 million donation the school received to build a new campus building.

At the time, Spelman College set aside $20 million of Scotland’s unrestricted endowment for various uses, a school spokesperson said.

11 11 million was invested in the fight and Spelman’s Endowment, $ 1.1 million was placed in the social justice program of the community and 2020, every student found a way forward. The authorities used all the money for technological development, educational programs and other improvements.

A spokesperson for Lincoln University in Pennsylvania called their $20 million donation, one of the largest in the University’s history, “transformational.”

“This gift is a tool that strengthens Lincoln’s priorities, including student success, educational innovation, and long-term sustainability,” a spokesperson said.

Scott also gave $25 million to Bowie State University in 2020, the largest gift the school has ever received, the communications director said.

The authorities of the BSU put $22.5 million in its Endowment fund, and then used the rest in ‘safe examples that need to compare money to the university,’ said the director of communications.

The University of Maryland Eastern Shore, which received $20 million, is getting more use out of Scott’s generosity.

“The funds were used to create three Erovements,” a university spokesperson told PEOPLE.

The first provides “money in money for spending money for various purposes such as education,” while the second and third abilities “correspond to the special nature of the MaryPland plan to create a new seat in Maryland.”

“The owner of that chair has also strengthened funds to secure approximately $6 million to support programs for students, faculty and community members working to start their businesses and recently through the Off-Campus Business Incubator,” said a company spokesperson.

The state of the Marmland School Morgan State University previously announced that they used a gift of more than $ 40 million Scott’illion for the newly created “World Endowment Fund,” that will be invested.

In a series of statements, Howard University officials previously said Scott donated $40 million to the school in 2020.

“We plan to immediately put this eight-figure gift to support parts of our 5-year plan to help students on time, retain our talented faculty, improve our campus infrastructure and create businesses,” said President Wayne AI Frederick.

In 2023, Scott gave another $12 million directly to their medical college.

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At that time, the official from Tuskegee University proves to the people that with their donations of $ 20 million, they invest half of the festivities, which helps the investment account – and the other half “is set aside for $ 14.9 million.”

Scott, who committed to giving away most of his earnings during his lifetime, has an estimated current net worth of $40 billion, according to Bloomberg Index of thousands.

In six years his divorce from the Amazon Founder became the largest in 2019, resulting in a settlement of $ 36 billion, according to the year of three donations, according to a three-year study published by Philanthropy at the beginning of the year.

Since the divorce, he has given more than $19 billion to more than 2,000 organizations.

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