*The Koch brothers, David and Charles, known for putting their enormous resources (money) behind conservative causes and candidates must have concluded that the United Negro College Fund/UNCF fits in with their plans.
Maybe so because the two billionaire industrialists just donated a $25 million grant to the UNCF, the organization announced Friday.
Here’s what the Washington Post is reporting:
The money will come from Koch Industries Inc. and the Charles Koch Foundation, which are headed by the brothers. Most of the money ($18.5 million) will go toward a scholarship program. The other $6.5 million is provided for general support to historically black colleges and universities and the UNCF, $4 million of which will be set aside for loan assistance.
The UNCF is the nation’s largest minority education group.
Such a highly-publicized gift is unusual for Charles Koch. His foundation routinely gives away lots of money, but typically with little fanfare.
“Increasing well-being by helping people improve their lives has long been our focus,” Charles Koch said in a statement.
To find out the reaction to the Koch brothers’ donation, from the UNCF’s president and chief executive Michael Lomax, click over for more of this article at the Washington Post.