Mackenzie Scott gives $50M to Native Forward for scholarships and endowment
Native Forward Scholars Fund has revealed how it will use the entire $50 million unrestricted donation from philanthropist MacKenzie Scott. The organisation will spend $10 million over the next five years to expand scholarships for Native students, while placing the remaining $40 million into a permanent endowment to provide long-term support. The gift, the largest in the organisation's 57-year…
Native Forward Scholars Fund (NFSF) has announced that it will utilize the full $50 million unrestricted donation received from MacKenzie Scott, ex-wife of Amazon founder Jeff Bezos, to provide scholarships and establish a permanent endowment for Native American students. The funds will be allocated into two parts: $10 million annually for five years to expand scholarships, and $40 million placed in a long-term endowment to support students for years to come.
NFSF's average scholar has an unmet financial need of $26,000, highlighting the increasing financial challenges faced by students pursuing higher education. This donation is the largest single gift in NFSF's 57-year history, and the organization aims to grow its endowment to $100 million through future fundraising efforts.
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