1. BlackBaud is using their own default DKIM signature whose domain does not match the "From" address domain. The DKIM signature shows "d=academicworks.com;" and the From address has the domain ucdavis.edu. This is a limitation of the vendor per the document referenced earlier:
https://docs.blackbaud.com/email-resource-center/overview/client/sender-authentication/dkim

2. SPF evaluation is failing for *DMARC* policy (not the same as SPF policy, sadly), because DMARC SPF policy requires the domains of "Return-Path" and "From" addresses match. Here are those on this message:
Return-Path: bounces+70046-5374-djransom=ucdavis.edu@email.academicworks.com
From: University of California-Davis Scholarships <scholarships@ucdavis.edu>

We need from you are:

The options going forward are:
1) DKIM sign messages using a ucdavis.edu signature, something they currently don't offer.
2) Set a custom return-path whose domain matches the From domain (ucdavis.edu).