COLUMBIA, SC – September 24, 2025, Benedict College, a proud member of UNCF (United Negro College Fund), announced today 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, Benedict College 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 Benedict students.
“This transformational investment affirms the critical role that Benedict College plays in higher education and will allow us to expand opportunities for our students, strengthen our academic programs, and build permanent resources for the future,” said Dr. Roslyn Clark Artis, President and CEO of Benedict College. “We are proud to work alongside UNCF to raise the matching funds that will double this impact on our institution.”Â
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.
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About Benedict College (www.benedict.edu)
Founded in 1870 by a woman, Bathsheba A. Benedict, Benedict College is a private co-educational liberal arts institution offering 29 competitive baccalaureate degree programs and two master’s degree programs. The Midlands HBCU welcomes students from several counties in South Carolina, states across America, and countries around the world. The College also has a diverse faculty deeply engaged in teaching, research, and service.
Benedict College has been highly regarded and exceptionally ranked for its programs by several academic and traditional publications.  Benedict College is the recipient of the 2024 UNCF Institutional Excellence Award given by UNCF’s Institute for Capacity Building Program in celebration of an HBCU that achieved next-level performance. Benedict was also named HBCU of the Year by HBCU Digest. 
Benedict College is accredited by the Southern Association of Colleges and Schools Commission on Colleges to award baccalaureate and master’s degrees. Five of the College’s degree programs hold national accreditation: Social Work Program, Environmental Health Science Program, Environmental Engineering, Studio Art, and the Tyrone Adam Burroughs School of Business and Entrepreneurship.