BALTIMORE — Morgan State University received their largest donation in school history.
MSU, the state’s largest HBCU, announced the receipt of a $40 million gift from noted venture philanthropist and author, Mackenzie Scott on Tuesday.
The donation is the largest single private donation in Morgan’s history and the second largest gift to any public Maryland university.
Sophomore Kemaj Blow says he’s ecstatic to see his HBCU receive the recognition it deserves.
“It’s like a breath of fresh air after a really long day. It’s like the first sip of lemonade you get on a summer day that’s exactly what this moment feels like."
MSU says the unrestricted funds will be used to support University efforts essential to student success as well as to advance research and enhance investments in other mission-focused priorities and initiatives.
The majority of the donation will be used to seed the newly established “Leading the World Endowment Fund,” the first unrestricted endowment in the University’s history.
The fund will be invested using the Morgan State University Foundation's asset allocation strategy with future interest leveraged to underpin ongoing University initiatives with a direct connection to Morgan’s strategic plan.
Scott’s multimillion-dollar donation doubles the endowment at Morgan, which MSU states establishes a more promising future supporting students and faculty, and improving academic programs for years to come.
“This monumental gift will change lives and shape futures. I thank Ms. Scott for her due diligence and acknowledgement of the substantive value Morgan offers to so many throughout this nation and around the world, and entrusting that we will ensure the enduring impact of her generosity is truly transformational for many years to come,” said President David Wilson. “Long considered as a gem in the crown of Baltimore City and the state of Maryland, Morgan’s dedication to improving the lives of the communities we serve is highly regarded. The receipt of this gift is clear evidence that the rest of the world is also taking notice in Morgan too.”