MacKenzie Scott details recipients of recent awards, Habitat for Humanity receives $436 million from MacKenzie Scott, Boys & Girls Clubs of America receives $281 million gift, National 4-H Council receives $50 million from MacKenzie Scott, MacKenzie Scott announces recipients of $1.67 billion in grants, MacKenzie Scott launches giving website, details charitable process, Mormon Church obscured control of $32 billion portfolio, SEC finds, Applications and funding surge at HBCUs following racial reckoning, Citi Foundation launches $25 million food security initiative, Community-based efforts to reduce gun violence launched in four cities, Carnegie Mellon, Rales Foundation launch $150 million STEM initiative. Its really critical for any philanthropist to address the inequities of how their wealth was created, she said. While non-profits and philanthropic experts alike have praised Scotts generosityand the massive scale and speed of her giving, as well as the unrestricted nature of her donationsthe secrecy around her process and lack of communication have created some frustrations even among her recipients, as a Fortune feature in March reported. Yield Givings website includes a page devoted to Scotts process, describing the quiet research and evaluations her team has relied upon to pick recipients. People-centered measures for recruitment and staff wellness, training, and retention. Documenting their founding principles and values. Intentionally communicating about evolving organizational norms in both directions between leadership and staff. Creating space for fostering staff agency, risk-taking and ideas generation among both the board of directors and staff. My hope is that MacKenzies style of giving inspires the philanthropic sector, and inspires other donors to give in a way that supports bold, big visions, she added. Little is known about how Ms. Scott selects her grantees, and there is no formal method for groups to apply for funds. Calling the donations to individual organizations "relatively large," Scott described the new cash as a means to do more good work with less financial stress. She does not have a foundation of her own, which would require detailed public filings and a potentially large staff. Mackenzie Investments Charitable Foundation grants in 2018: $801,000 35 charities received grants in 2018 Largest grant to a partner charity in 2018: $50,000 Our Partner Charities The Foundation focuses on giving high-impact grants to charities across the country, with a special focus on organizations that help children and youth at risk. All Rights Reserved, By submitting your email, you agree to our. 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Less than two months into 2022, Scott isnt showing any signs of slowing down. That changed in December 2020. Money was tight. Many big-time donors, he said, model themselves off of venture capitalism and take an extremely aggressive approach in terms of monitoring the performance of grant recipients. All Rights Reserved. The MacKenzie Scott Opportunities Scholarship (S.O.S) will assist first-time, credential-seeking, young adults under age 25 attend college. Now, for the third time in under a year, Ms. Scott has announced a new round of grants, worth a combined $2.74 billion, demonstrating that her dedication to rapidly disbursing her fortune has not abated. Philanthropist MacKenzie Scott has announced details of the more than $3.86 billion in gifts she has awarded since June of 2021.. Over the past nine months, Scott has awarded grants to 465 nonprofits. MacKenzie Scott, the former wife of Amazon founder Jeff Bezos, is shown here in 2018. Where Scott grant recipients chose to spend their unrestricted grants offers clues about the areas of global development that have historically been underfunded.. Ms. Scott described in her Medium post how her team used hundreds of emails and phone interviews and thousands of pages of data analysis to sift through 6,490 potential gift recipients. Many only barely meet that requirement, instead hoarding their cash and giving away less than the profits they earn through investments. MacKenzie Scott : "There are lots of resources each of us can pull from our safes to share with others. Women-led, Black women-led organizations tend to be at the very bottom of the pile for philanthropists, Ms. McWhorter said. MacKenzie Scott, the former wife of Amazon founder Jeff Bezos, is shown here in 2018. MacKenzie Scott has unveiled a website to provide more transparency around her philanthropic efforts. If you want to have a leading voice in addressing inequality, you have to address Amazons profit maximization in the private sector.. To address this, cohort members used their Scott grant to elevate their entire fields, by prioritizing collaborations with peers and strengthening capacities among their communities. But the Red Door had the rug pulled out from under it when Covid hit. Anyone can read what you share. What do we think they might do with more cash on hand than they expected? (Rudolphs series-finale declaration that we are the problem; billionaires shouldnt exist lands like a TV-pithy version of Scotts first essay about her donations: Theres no question in my mind that anyones personal wealth is the product of a collective effort, and of social structures which present opportunities to some people, and obstacles to countless others.). In order to be eligible, you must: be a qualified recipient that is a tax exempt US organization with a charitable purpose stated under section 501 (c) 3 of the Internal Revenue Code. Scott noted that all were awarded general operating support grants but did not disclose individual grant amounts. This followed an announcement. Yield Givings website also appears to address another criticism that Fortune highlighted in our reporting earlier this year: Scotts lack of availability to those with good reason to seek her money, and the difficulties this lack of accessibility can cause for those shes trying to help. Chef Reign Free received support to keep her catering business afloat during the pandemic due to Scott's philanthropy. MacKenzie Scott (formerly Bezos) has announced the recipients of $1.67 billion in grants awarded since she signed the Giving Pledge fourteen months ago. We invite you to join us. The article also notes that Bezos and Scott tend to differ in how they donate their money. We have to accelerate. (Im still chuckling at the image for the year 2014 when the Bezoses donated a total of $2.25 million to fund clinical food allergy research at Stanford University: a photo of peanuts. Scott donated to two organizations combatting addiction: $5 million to Shatterproof and $3 million to Young People in Recovery. Usually you dont have very large philanthropists wandering the landscape looking to drop millions of dollars very quietly into organizations that they care about, said Adam Zimmerman, president and chief executive of Craft3, which gives loans to small businesses in Oregon and Washington and which received a $10 million gift from Ms. Scott. As she has before, Ms. Scott also included a literary reference, this time from the Sufi poet Rumi. Scotts made quite the impression on the world of philanthropy as a result, even while shunning the spotlight and not talking to reporters. It is a pathbreaking approach to megaphilanthropy that seems designed to protect her tightly guarded privacy. Political candidates or organizations, fraternal organizations or veteran organizations. More surprisingly, the operation (which the website calls Yield Giving) also announced that Scott will allow nonprofits to formally apply for her gifts in the future, through what it calls an open-call process. That process will include an online application, the website says, but it doesnt yet provide specifics on timing, simply saying it is upcoming.. Me, Dan, a constellation of researchers and administrators and advisors we are all attempting to give away a fortune that was enabled by systems in need of change, she wrote. The total amount of her giving in 2020 outstripped the entirety of the $5.1 billion in grants given by the Bill and Melinda Gates Foundation in 2019, one of the worlds top philanthropic organizations. They were farmers of Ealing who wanted to leave . And rather than a few targeted donations, she gave broadly to hundreds of groups. ", "In this effort, we are governed by a humbling belief that it would be better if disproportionate wealth were not concentrated in a small number of hands, and that the solutions are best designed and implemented by others," Scott wrote. She has swiftly followed through, and by 2021 had become the third most generous U.S. philanthropist on paper. She has until now announced her donations, and named the nonprofits shes funding, through reflective, literary essays posted twice a year on Medium. Instead of traditional in-person corporate events, The Red Door began to provide food for virtual conferences by making at-home deliveries to attendees in the Bay Area. The university will use the funds to meet needs in four areas, including campus infrastructure improvement projects, a new faculty development plan, a program focused on social innovation and entrepreneurship, and one of its signature retention programs, the Graduation & Retention Access to Continued Excellence (GRACE) Grant. MacKenzie Scott seems to be nonresponsive to traditional approaches (there is no application process) and operates much more like a Donor Advised Fund (DAF). Favianna Rodriguez, who received $11 million from Scott, says Scott's giving is a redistribution of wealth. That fund will eventually disclose the groups that received money, but is not required to say who is behind each gift. Scott, who divorced from Amazon founder Jeff Bezos in 2019, made the announcement in a blog post on the website Medium. As part of their split, she received 4 percent of the outstanding shares of Amazon. Once a saver, always a saver: Warren Buffett says generational wealth isnt what it used to be in his annual letter Its bigger than the housing crisis: An influential economist just blamed NIMBYs for American decline, and Elon Musk CA Notice at Collection and Privacy Notice, Do Not Sell/Share My Personal Information. The money hit the street, he says. Its no secret MacKenzie Scott has committed some stunning acts of philanthropy of late. Scott is a signee of the Giving Pledge, a promise made by billionaires to give away half of their wealth in their lifetimes or after their deaths. Feel free to contact us anytime. She did make some of her personal life public this year when she announced that she had married Dan Jewett, a chemistry teacher at her childrens school. However, some organizations have revealed how much money they'll receive. A gift like this for a nonprofit is equivalent to a billion dollars, Accion chief executive Luz Urrutia told Forbes. For a complete list of grant recipients, see Scotts Medium post. An elected, engaged Board of Directors which fairly reflects the organizations constituencies and has the ability and policy-making authority to complete the proposed project. The University of Texas at San Antonio is also receiving $40 million, which its president called "completely transformational." After calls for more transparency, in December Scott wrote that she hopes to launch a website with a searchable grants database this year. Candid gets you the information you need to do good. As you probably know, DAFs are not public entities so there's no application process, unless the donor decides to make the process public, which Ms. Scott has not chosen to do. Must be postmarked by April 30th. These are the kinds of stories Scotts grant was able to propel, says Urrutia. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. Get the latest nonprofit news, funding opportunities, job openings, and more delivered to your inbox with Philanthropy News Digest newsletters. The website dropped at the end of a year in which Scott became more famous than ever, despite her shying from the spotlight, and not always for her donations. Saying that she's troubled by the increasing concentration of wealth, philanthropist MacKenzie Scott says she is giving away another $2.7 billion of her fortune to 286 nonprofit organizations.. Scott's approach to philanthropy is unusual in a number of ways. "Though we still have a lot to learn about how to act on these beliefs without contradicting and subverting them, we can begin by acknowledging that people working to build power from within communities are the agents of change. Instead, most grant recipients first learn of their potential windfall when they are approached by representatives of Ms. Scott, often from the nonprofit consulting firm the Bridgespan Group, and told that they are under consideration for a substantial sum from an anonymous giver. Long Beach City College, in California, thanked Scott for $30 million also the single largest donation in its history. Women dont like to splash their names on buildings, in general.. Much as a judge has to explain their logic, or a senator has to answer to their constituents, a philanthropist owes it to the public to explain how and why they came to their decisions.. MacKenzie Scott(formerly Bezos) has announced the recipients of $1.67 billion in grants awarded since she signed theGiving Pledgefourteen months ago. They divorced in mid-2019 and she received 25% of his Amazon stake. Ms. Scott has moved away from the heavy hand of the philanthropy in steering the direction of social change, said Benjamin Soskis, a senior research associate in the Center on Nonprofits and Philanthropy at the Urban Institute. Grant recipients include Howard University, which announced that it received a $40 million the largest gift in the school's history from Scott, a former student of alumna Toni Morrison. Her main expression of that critique is giving away so much money so quickly, and supporting so many bottom-up organizations, Mr. Callahan said. In her latest round of donations, Ms. Scott did not list the amount she gave each organization, but her blog post included a list of those receiving funds. MacKenzie Scott announced on Tuesday her second major charitable contribution of the year, giving away nearly $4.2 billion to 384 organizations as part of a plan to donate a majority of her fortune. The scholarship is need based and will fund up to $2,000 per student. She noted that she had made unsolicited and unexpected gifts given with full trust and no strings attached. Such strings are a mainstay of modern philanthropy: onerous grant proposals and nerve-racking site visits, followed by reports on the variety of performance benchmarks that charities are required to meet to keep the money flowing. Our programs and grants help create joyful, enriching experiences that lay the foundation for a lifetime of learning, and provide adults with the knowledge and skills they need to give children the best possible start. If Ms. Scott was making her donations through a foundation, she would be required to publicly disclose the amounts and recipients of all gifts. Philanthropist MacKenzie Scott has announced details of the more than $3.86 billion in gifts she has awarded since June of 2021. The news was almost too good to be true: Her group would be receiving a $9 million gift. I was quite emotional. FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. Her work focuses on supporting social entrepreneurs and social change leaders to implement their work through fiscal sponsorship and other partnership models, and co-leading efforts to deepen learning and knowledge sharing across the nonprofit and philanthropic sectors. Other recipients include theAdvancement Project,American Indian Graduate Center, Co-Impact,Grantmakers for Girls of Color,Groundswell Fund, LatinoJustice, Movement for Black Lives,Narrative4,Point Foundation, PolicyLink, RAINN, Spelman College, andUnidosUS. November 2023 meeting - applications close on the 27th of October 2023. Though this kind of giving isnt new, Scott (and possibly Melinda French Gates) is putting a spotlight on trust-based philanthropy, which seeks to address the power imbalances between wealthy funders and nonprofits. The business was teetering on the brink. MacKenzie Scott, the reclusive billionaire who has in three years donated upwards of $14 billion to more than 1,600 nonprofits, may start accepting applications from would-be recipients. David Callahan, founder of the website Inside Philanthropy, added that while Ms. Scott was clearly focused on organizations doing work on the front lines, she had so far shown little interest in the think tanks and research institutes that often shape policy in Washington and statehouses around the country. MacKenzie Scott is a private citizen, but she is playing a public role, said Maribel Morey, founding executive director of the Miami Institute for the Social Sciences. 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