Red Lake Nation College announced Thursday that it received a $7 million unrestricted donation. It says the gift from philanthropist MacKenzie Scott’s foundation, Yield Giving, is the largest in the college’s history.

The tribal college has two campus locations — one in northern Minnesota and another in Minneapolis.

The school’s board and president say the school will invest the money into a permanent endowment fund, which they say will guarantee the school's financial stability well into the future — following Ojibwe teachings to visualize how today's decisions will impact the next seven generations.

“This is historic and this fund will end the poverty cycle for our college. The key is to put it all in a new fund, and let it grow and build, so we can get it to a point where we can use it to support us for anything we need,” said RLNC board chairman Delwyn Holthusen Jr.

Holthusen says the money in the endowment will only be used in “extreme emergencies.” If money were to be taken out, school leaders say it will be paid back with interest, to allow the fund to continuously grow over the next several decades.

Tight internal restrictions have also been placed on withdrawals. According to a press release, college board members must all agree to taking out funds from the endowment.

Chief Dan King is RLNC’s president. He says the endowment is the start to “ending poverty” for the college, which receives a quarter of its funding from private donations annually.

“I am so proud of our RLNC Board for having the courage and vision to look out for the long-term financial sustainability of our current and all future RLNC students,” King said.

After 35 years, the school estimates the endowment will reach $224 million.

Chandra Colvin covers Native American communities in Minnesota for MPR News via Report for America, a national service program that places journalists into local newsrooms to report on undercovered issues and communities.

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Brandy Hicks