Billionaire philanthropist MacKenzie Scott’s foundation has donated $18 million to Alaska Pacific University.
APU President Janelle Vanasse said it’s a transformational contribution to the university.
“APU is heading in a really exciting direction, and to have somebody like MacKenzie Scott and her team recognize that — we're just so grateful for that, and just think it's really validating and we're excited about what's next for us," she said.
MacKenzie Scott became one of the wealthiest women in the world through her divorce from Amazon founder Jeff Bezos. She’s known for making massive gifts with no strings attached. Vanasse said APU never applied to Scott’s foundation, Yield Giving, for a grant because that’s not how it works.
“You don't apply. She has a team that kind of does their own quiet research, is what they call it," she said. "And they find organizations that they want to support, and they choose us.”
The $18 million is equivalent to about 70% of APU’s annual budget. Vanasse said it will nearly double a foundation that benefits the university. The immediate plan is to leave it there to help build the university’s financial sustainability. She said it will help APU keep tuition costs as low as possible.
