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Reed Hastings has been involved in education reform since the late 1990s, including backing charter schools — a subject that has polarized the education community.

The United Negro College Fund, Spelman College and Morehouse College will each receive $40 million

The donation will be split among Morehouse College, Spelman College, and the United Negro College Fund (UNCF).

The donation will support scholarships at Morehouse and Spelman colleges and through the United Negro College Fund.

Hastings and his wife Patty Quillin will donate $40 million to the UNCF (United Negro College Fund) and the historically-Black Spelman College and Morehouse College.

A former Peace Corps math teacher, Hastings has become one of the nation's largest donors to the education reform system. His latest venture, named the Retreat Land at Lone Rock, is expected to operate as a training ground for public school teachers, according to Recode.

Reed Hastings' donation, the largest of its kind, will be split between Spelman College, Morehouse College and the United Negro College Fund, which will each receive $40 million.