Florida Memorial University Awarded $5Mil Endowment Stake Through MacKenzie Scott’s Historic $70 Million Gift to UNCF

William C McCormick

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FMU receives $5M endowment stake from MacKenzie Scott’s $70M UNCF gift, boosting scholarships, academics & student success.

MIAMI GARDENS, FL, UNITED STATES, September 26, 2025 /EINPresswire.com/ -- It is with great pride and gratitude that I share a historic moment in the life of Florida Memorial University. Philanthropist MacKenzie Scott has made a transformative contribution of $70 million to the United Negro College Fund (UNCF), specifically designated for 37 private historically Black colleges and universities (HBCUs). Florida Memorial University is honored to be among the recipients of this unprecedented investment.

Through this initiative, each participating institution, including FMU, will receive a $5 million stake in a newly established pooled endowment fund, professionally managed to ensure long-term growth and sustainability. UNCF will work alongside all participating institutions in a matching effort, with the goal of raising an additional $5 million per institution. When achieved, this will double our University’s stake to $10 million, significantly enhancing the scale and impact of support available to our students and programs.

The investment returns from this endowment will be distributed annually to support scholarships, academic programs, faculty development, and community-focused initiatives—expanding opportunity while preserving the endowment’s principal value for generations to come.

This unparalleled generosity reflects more than financial support—it validates Florida Memorial University’s enduring mission and bright future. It creates pathways for expanded student success, strengthens our academic enterprise, and reinforces FMU’s role as South Florida’s only HBCU committed to advancing equity, leadership, and excellence.

On behalf of our Board of Trustees and the entire FMU family, I extend heartfelt thanks to Ms. Scott for her visionary philanthropy. I also thank each of you—our dedicated faculty, hardworking staff, and resilient students—for the roles you play in ensuring our continued progress. Her remarkable gift shines a national spotlight on the critical work we do and affirms the unique contributions of Florida Memorial University.

Together, we embrace this moment with confidence, gratitude, and renewed determination. This gift is more than an investment in our University; it is an investment in the lives of our students today, and in generations of future Panthers who will carry forward FMU’s proud legacy.

With appreciation,
William McCormick
President

William McCormick, Jr., MBA -President
Florida Memorial University
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