ALBUQUERQUE, NEW MEXICO – The Native Forward Scholars Fund, a non-profit organization dedicated to supporting Native American and Alaska Native students, has announced its allocation plan for a $50 million donation received from philanthropist MacKenzie Scott. The organization will dedicate $10 million to immediate scholarships over the coming years and place $40 million into a permanent endowment.

The significant contribution from Scott, made as part of her December 2023 philanthropic round, represents the largest single gift in Native Forward Scholars Fund's 54-year history. Based in Albuquerque, New Mexico, Native Forward aims to increase the number of Native college graduates by providing financial aid and support services to students pursuing higher education across various fields.

According to the organization's announcement, the $10 million designated for scholarships will be disbursed over the next five to seven years. This immediate infusion of funds is projected to support a substantial number of students, enabling them to access and complete their post-secondary education without incurring additional debt. The scholarships are intended to cover tuition, fees, books, and other essential educational expenses.

The remaining $40 million will establish a permanent endowment, a strategic move designed to ensure the long-term financial stability and operational capacity of the Native Forward Scholars Fund. Endowments generate investment income that can be used annually to support an organization's mission, thereby providing a sustainable and consistent funding source independent of short-term fundraising cycles. The organization anticipates this endowment could generate approximately $2 million annually, significantly enhancing its ability to expand programs and scholarships for future generations of students.

Angelique Albert, CEO of Native Forward, highlighted the transformative potential of Scott’s donation, stating it would profoundly enhance the organization's ability to fulfill its mission. Scott’s philanthropic approach is known for providing substantial, unrestricted donations to organizations that address systemic inequities and foster social mobility.

Key details of the allocation include:

  • Total Donation: $50 million from MacKenzie Scott.
  • Scholarship Allocation: $10 million for direct student scholarships over 5-7 years.
  • Endowment Establishment: $40 million allocated to a permanent endowment.
  • Historical Significance: Largest single gift in Native Forward's 54-year operational history.
  • Projected Endowment Yield: Approximately $2 million annually from the endowment for future operational costs and scholarships.

The establishment of a permanent endowment is expected to fortify Native Forward's infrastructure, allowing for consistent program development and scholarship distribution for decades to come. This ensures that the organization can continue to serve its student population with enhanced resources and expanded reach, providing critical support for Native American and Alaska Native students in their educational pursuits. The immediate scholarship funds will begin benefiting students in the upcoming academic cycles, addressing present financial needs while the endowment builds for the future.