PRAIRIE VIEW A&M RECEIVES $50 MILLION FROM MACKENZIE SCOTT, LARGEST DONATION IN UNIVERSITY’S HISTORY
Prairie View A&M University has received a donation of $50 million from writer and philanthropist MacKenzie Scott.
(courtesy Prairie View A&M)
The donation, which is the largest gift in the university’s 144-year history, can be used at the discretion of President Ruth J. Simmons to support the needs of the university.
Of the total, $10 million will be used to create the Panther Success Grant Program, an effort to assist juniors and seniors who have faced financial challenges due to COVID-19. The funds will remain designated for financial aid and will continue to be allocated to students over the next several years, supplementing other forms of financial aid.
The remaining funds will be put toward the university’s endowment to support academic improvements, faculty recruitment and development, undergraduate scholarships and graduate fellowships.
Simmons said, “This is a historic gift for Prairie View, coming at a time when the University had already decided and begun to invest heavily in key areas to strengthen its academic programs and improve student success. The timing of this gift could, therefore, not be better.”
Following the donation, the university’s $95 million endowment will increase nearly 40 percent to almost $130 million, making it one of the largest endowments at any Historically Black College or University.