Category: Business & Philanthropy in Black Community

  • MacKenzie Scott Gifts Dillard University $19M

    Dillard University is celebrating a monumental moment in its history with a groundbreaking $19 million donation from philanthropist MacKenzie Scott. This incredible contribution marks the largest single gift the New Orleans-based historically Black college and university (HBCU) has ever received, further solidifying Scott’s deep commitment to these vital institutions.

    A Historic Investment in Dillard University

    This generous gift follows a previous $5 million donation from the MacKenzie Scott Foundation in 2020, demonstrating a sustained and impactful investment in HBCUs across the nation. Dillard University President Dr. Monique Guillory expressed profound gratitude, stating, “If anyone ever doubts the difference one person can make, look no further than MacKenzie Scott and how her generosity will resonate across generations.”

    The unrestricted nature of this $19 million gift is particularly significant. It empowers Dillard University to strategically accelerate its key priorities. This includes enhancing student success initiatives, expanding much-needed scholarship opportunities, and strengthening the university’s overall institutional advancement efforts.

    The Influence of Toni Morrison

    Scott’s profound connection to the Black community and her philanthropic drive are deeply rooted in her academic past. As previously reported by AFROTECH™, she studied creative writing under the late Nobel Prize-winning author Toni Morrison at Princeton University. Morrison’s mentorship not only shaped Scott’s voice as a writer but also instilled a powerful empathy for people’s struggles and aspirations, which continues to guide her philanthropic endeavors today.

    Scott’s Billion-Dollar Commitment to HBCUs

    Since signing the Giving Pledge in May 2019, committing the majority of her fortune to charitable causes, Scott has donated over $19.25 billion. A significant portion of this, more than $1.07 billion, has been directed towards supporting HBCUs. Scott believes in the power of immediate action and the ripple effects of giving.

    I have no doubt that tremendous value comes when people act quickly on the impulse to give. No drive has more positive ripple effects than the desire to be of service. — MacKenzie Scott

    Her recent contributions to HBCUs are record-breaking. This includes a $63 million gift to Morgan State University, $80 million to Howard University, $38 million to Spelman College, and now, the historic $19 million to Dillard University. These donations are fueling everything from student aid and endowment growth to technological infrastructure and campus maintenance.

    Scott’s philosophy on giving emphasizes the multiplying value of shared resources – whether it’s time, knowledge, or financial support. She notes that the positive outcomes, like the relief on a child’s face or the safety of families, are just the beginning, with their impact spreading in ways we may never fully comprehend.

    What impact do you think MacKenzie Scott’s continued investment in HBCUs will have? Share your thoughts in the comments below!