Johnson C. Smith University to Benefit from MacKenzie Scott’s Landmark $70 Million Gift to UNCF

September 25, 2025

Charlotte, N.C. / September 25, 2025 — Johnson C. Smith University, a proud member of UNCF (United Negro College Fund) announced this week that it will benefit from a landmark $70 million gift from philanthropist MacKenzie Scott to UNCF. The gift will be invested in the UNCF Members Pooled Endowment Fund, a groundbreaking initiative designed to strengthen the long-term financial health of all 37 private UNCF-member historically Black colleges and universities (HBCUs).

Through this initiative, Johnson C. Smith will receive a $5 million endowment stake from UNCF. The institution will work with UNCF to raise an additional $5 million in matching funds, creating a $10 million endowment that will be managed in perpetuity. These pooled funds will make annual distributions at a 4% payout rate, providing long-term financial stability and greater opportunities for Johnson C. Smith University students.

Johnson C. Smith University President, Dr. Valerie Kinloch, said she appreciates the transformational investment. "At Johnson C. Smith University, we are thrilled by the news of the Mackenzie Scott $70 million gift to UNCF. As a UNCF member institution, Johnson C. Smith University is grateful that UNCF has received this very generous gift. This investment affirms the critical role that HBCUs play in higher education and in shaping future leaders. Also, it strengthens the ability of HBCUs to provide scholarships to our students, especially as we work to further enhance our academic programs, build permanent resources, and create professional opportunities that empower our students to thrive now and in the future, " Kinloch said.

At Johnson C. Smith University, we are thrilled by the news of the Mackenzie Scott $70 million gift to UNCF. As a UNCF member institution, Johnson C. Smith University is grateful that UNCF has received this very generous gift. This investment affirms the critical role that HBCUs play in higher education and in shaping future leaders. Also, it strengthens the ability of HBCUs to provide scholarships to our students, especially as we work to further enhance our academic programs, build permanent resources, and create professional opportunities that empower our students to thrive now and in the future.

- Dr. Valerie Kinloch, 15th President of Johnson C. Smith University

 

The $70 million gift from MacKenzie Scott brings UNCF significantly closer to its goal of raising $370 million for the pooled endowment, a critical component of its broader $1 billion capital campaign. Once matched, the initiative will increase the median endowment of UNCF-member institutions by 63%, addressing the stark disparity between HBCU and non-HBCU endowments.

“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 of 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.”

According to President Kinloch, “Momentum is on our side. At Johnson C. Smith University, we are committed to meeting our $5M match as a participating university in UNCF’s pooled endowment fund, their bold $1B capital campaign. Doing so will allow JCSU to continue to increase our own endowment while continuing to improve the long term financial trajectory of our institution. We will remain committed to illuminating pathways of excellence as we transform the lives of our students one scholar at a time for generations to come.”

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