HAYWARD – California State University East Bay received a surprise this holiday season from billionaire philanthropist MacKenzie Scott: “a record-breaking” $50 million gift.
The largest single donation in the institution’s history, according to university officials, the university said the money is a “transformative investment” in its mission to make a regional impact and advance student success.
Cal State East Bay President Cathy Sandeen said she was “tremendously grateful” for the donation, as it will help the institution grow further.
“A transformational gift of this size provides our university with the unique opportunity to build capacity for the future by increasing our endowment, ensuring an ongoing revenue stream from earnings that will support the university and our mission into perpetuity,” said Sandeen in an email to this news organization. “In the coming new year, we will share the framework for how this gift will be used and provide opportunities for staff and faculty input and ideas as we work through the process.”
Sandeen said in a LinkedIn post she was proud of how the university has been able to elevate its visibility, “strengthening our story, and staying centered on our students and the vibrant East Bay region we serve.”
“This grant ensures this mission will continue now and far into the future. Thank you, East Bay, for your confidence, and thank you, MacKenzie Scott, for this transformational moment in our university’s history,” wrote Sandeen.
Founded in 1957, California State University East Bay has been serving students from its main campus in Hayward and a center in Concord.
The university enrolls about 13,000 students annually, including a high number of transfer, first-generation, and adult learners, and offers more than 130 fields of study, according to the university.
Vice President for University Advancement and Cal State East Bay Educational Foundation Board President Evelyn Buchanan said the university did not approach Scott’s organization, Yield Giving, for the donation.
“Ms. Scott’s team conducted a thorough and rigorous evaluation process through discreet research assessing an organization’s multi-year record of impact, measurable outcomes, financial stewardship, and experienced leadership,” said Buchanan.
Buchanan also credited Sandeen’s leadership for securing the donation, adding that it was a testament to her “vision and unwavering dedication” to the students and the community served.
Scott, the former spouse of Jeff Bezos, has donated over $19 billion to more than 2,400 nonprofits, according to Yield Giving.
In recent years, Scott has donated to various educational institutions, including California State Universities in Northridge, Fullerton, Channel Islands, and Pomona.
Other institutions include the Fresno Unified School District; Long Beach City College; University of California, Merced; Pasadena City College; Los Angeles-based Mount Saint Mary’s University; Santa Barbara City College; Charles R. Drew University of Medicine and Science; and others.