‘Use these dollars to change lives’

From Inside Higher Ed: “Twice in 2020 and once in 2021 the billionaire philanthropist MacKenzie Scott surprised colleges unaccustomed to multimillion-dollar gifts … ‘I think her funding shined a light on those organizations that don’t always stand out,’ said Heidi M. Anderson, president of the University of Maryland, Eastern Shore, an HBCU that received a $20 million gift from Scott. The Scott gift helped UMES more than double the value of its endowment, from about $30 million in October 2020 to $61 million today, and the university expects to draw up to $1.7 million in income from the endowment this spring to use for student scholarships and faculty development and to build up its sponsored research operation.”

View the full article from Inside Higher Ed.

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