Streep beat out Davis for the Best Actress Oscar Sunday for her performance in "The Iron Lady." Davis had been nominated for her work in "The Help."
The Providence (R.I.) Journal said Streep made one donation to Upward Bound, a program housed at Rhode Island College that helps poor high-school students attend university.
Davis spent two years in the program before enrolling at RIC, the newspaper said.
Streep also made a donation to the Segue Institute for Learning in Central Falls, Davis' hometown, the report said.