HeadlinesBriefing favicon HeadlinesBriefing.com

MacKenzie Scott's $20M Gift to Santa Barbara College Used Without Approval

Yahoo Finance •
×

Santa Barbara City College (SBCC) Board of Trustees expressed disappointment over the unauthorized use of a $20 million donation from philanthropist MacKenzie Scott. The funds, the largest in the college's 112-year history, were allocated towards the Promise Program providing tuition assistance without explicit authorization from the board or foundation leadership. $10.5 million of the gift was directed to the program from 2021 to 2024, discovered as an accounting error by new CEO Bobbi Abram in 2024. The college emphasized the funds aligned with Scott's intent for educational access but acknowledged a failure in transparency and authorization. the board commits to full transparency and collaborative oversight with the SBCC Foundation.