Between the pandemic and the recession, it had been a difficult year for the Chicago Y.W.C.A., which runs a rape crisis hotline and provides counseling to women on jobs, mortgages and other issues. By Alexandra Hutzler Newsweek. Get the latest nonprofit news, funding opportunities, job openings, and more delivered to your inbox with Philanthropy News Digest newsletters. Her fortune comes from shares of Amazon that she got after her divorce last year from Jeff Bezos, the companys founder. MacKenzie Scott promised she would give her fortune away until the safe is empty. That has proved to be harder than expected. Scott donated to two organizations combatting addiction: $5 million to Shatterproof and $3 million to Young People in Recovery. They divorced in mid-2019 and she received 25% of his Amazon stake. Though she has donated more than $8 billion over the past 11 months, primarily through direct gifts to nonprofits, today she is richer than ever, worth some $60 billion, according to Forbes. Less than two months into 2022, Scott isn't showing any signs of . After deeper research into 822 of them, she and her advisers selected 384 groups to receive nearly $4.2 billion in funds. "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. As part of their split, she received 4 percent of the outstanding shares of Amazon. And rather than a few targeted donations, she gave broadly to hundreds of groups. Were in this very polarized time where there is tremendous, you could say obscene, wealth held among these very elite individuals, said Elizabeth Dale, a professor specializing in philanthropy at Seattle University. A large, unrestricted grant can shift an organizations position providing greater visibility, more opportunities to influence the fields direction, and greater legitimacy with donors. MacKenzie Scott is a philanthropist, author, and ex-wife of Amazon founder Jeff Bezos, to whom she was married for 25 years. She thought she had found her lifes calling, but says there were a lack of opportunities. For some, scale has meant closely partnering with governments to enhance their capacity to support community-led efforts and leverage the potential that already exists locally. Her net worth, which Forbes estimates at $60 billion, keeps rising, thanks to Amazon stock. 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. A child's future is profoundly influenced by how they learn and develop in their earliest years. Candid gets you the information you need to do good. 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. Money was tight. She has swiftly followed through, and by 2021 had become the third most generous U.S. philanthropist on paper. ", MacKenzie Scott Has Donated More Than $4 Billion In Last 4 Months. Though her net worth now exceeds the value of the endowment of the Bill and Melinda Gates Foundation, the largest charity in the world, Ms. Scott has shown no interest in developing that kind of formal structure around her giving. Their service supports and empowers people who go on to support and empower others.". 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. Fundraising expenses or activities or staff positions related to development or fundraising. Who Can Apply for a Grant? This highlights the need to give organizations the freedom to build muscle for resilience, as they see fit. 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. That fund will eventually disclose the groups that received money, but is not required to say who is behind each gift. The Scott R. MacKenzie Foundation funds leading-edge human genetic research to advance cures for cancer, lung disease, diabetes and heart disease. She refers to a team of advisers rather than a large dedicated staff. The website unveiled this week is the result. It is a pathbreaking approach to megaphilanthropy that seems designed to protect her tightly guarded privacy. historically Black colleges and universities, community colleges. Anyone can read what you share. MacKenzie Scott's 2020 giving outstripped the over $5 billion in grants given by the Bill and Melinda Gates Foundation in 2019. MacKenzie Scott seems to be nonresponsive to traditional approaches (there is no application process) and operates much more like a Donor Advised Fund (DAF). This is why Panorama Globallaunched the Collaborative Learning from Impact Philanthropy, CLIP, initiative, which includes several peer learning cohorts designed for Scott grant recipients at their request. Among the recipients are more than 220 organizations operating globally, half of which are based outside the United States. Scott noted that all were awarded general operating support grants but did not disclose individual grant amounts. Since colleges and universities began shuttering their campuses, our students have faced incredible challenges, from losing safe housing after campus closures to losing jobs and income. Jeff Bezos and MacKenzie Scott in 2018. A gift like this for a nonprofit is equivalent to a billion dollars.. Powered and implemented by Interactive Data Managed Solutions. Scott also saw her life inspire a comedy series on AppleTV+, Loot, in which Maya Rudolph plays a fictionalized billionaire divorcing her tech-founder husband and figuring out how to give away the fortune she takes from the marriage. These are the kinds of stories Scotts grant was able to propel, says Urrutia. They were valued at the time at $38 billion. All ten nonprofit leaders Forbes spoke with say the unrestricted and ultimately more trusting nature of Scotts philanthropy is the exception, not the norm in their world. Scotts windfall grants have few or no strings attached and center on race, gender, equity, and localized decision-making. Free was forced to lay off employees. Hire a few extra team members they know they can pay for the next five years. While philanthropy experts applauded Ms. Scotts generosity, the scale of her giving is prompting calls for her to be more transparent. She had three children from her former marriage and they adopted one girl from China. MacKenzie Scott (formerly Bezos) has announced the recipients of $1.67 billion in grants awarded since she signed the Giving Pledge fourteen months ago. November 2023 meeting - applications close on the 27th of October 2023. As she did in July when she announced donations of $1.7 billion to 116 organizations, Ms. Scott unveiled her latest round of philanthropy through a post on Medium. In December 2021, Scott briefly tried to withdraw even further from the limelight, and announced that she would let her recipients announce her gifts themselves. Scotts July 2020 giving could not have come at a better time for Accion Opportunity Fund, a small business loan provider in California focusing on women and Black-owned businesses. Ms. Scott has not given a media interview recently, and maintains a close circle of friends and advisers. Large global development organizations adopted remote and distributed approaches to staffing long before the pandemic. As one organization put it, "We should be building local organizations because they will be there longer than us and will have more credibility." Buy chairs for them. Shes moved extraordinary sums out the door, quickly, in an anti-paternalistic way, said Rob Reich, co-director of the Center on Philanthropy and Civil Society at Stanford. The MacKenzie Scott Opportunities Scholarship (S.O.S) will assist first-time, credential-seeking, young adults under age 25 attend college. BEGIN THE APPLICATION PROCESS. This followed an announcement. Billionaire philanthropist MacKenzie Scott has donated almost $2 billion to more than 300 organizations in the last seven months, she said in a Medium post Monday. 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. Find new creative ways to help. These organizations work in agriculture, civic engagement, community-led development, access to education and health, gender equity, legal empowerment, and poverty alleviation. It also distinguished her from her former husband, the richest man in the world. Scott says that she and her organization spent the first quarter of 2021 identifying and researching equity-oriented nonprofit organizations working in neglected and underfunded areas. MacKenzie Scott has revolutionized philanthropy and the civil society and development sector by rapidly awarding more large grants faster than any other philanthropist: almost 1,600 grants totaling more than $14 billion since 2020. Over the course of 2020, MacKenzie Scott announced grants totaling almost $6 billion. Two previous Accion loans allowed Free to expand her Oakland, California catering business, The Red Door, from a couple of employees and a van in 2011 to dozens of employees and a 5,000 square foot kitchen before the pandemic. She then dampens any of our hopes that she might reconsider all those press interview requests: In order to cede focus to the organizations were supporting, we choose not to participate in events or media stories.. 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. Forbes takes the position that people with billions of dollars at their disposal warrant more scrutiny than average Americans because of the power that money wields. A social enterprise, we connect and inform 1,021,000+ development, health, humanitarian, and sustainability professionals through news, business intelligence, and funding & career opportunities so you can do more good for more people. Were not looking to spend the money right away, he says. "These are people who have spent years successfully advancing humanitarian aims, often without knowing whether there will be any money in their bank accounts in two months. Criteria for Grantmaking All organizations applying for Foundation funds must be able to demonstrate the following organizational characteristics: Staff capacity, sound fiscal policy and responsible financial management. Morgan State University, a historically Black public college in Baltimore that traces its roots to the year 1867, has always struggled financially. 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. She doesnt appear to have an office or even a mailing address for her philanthropy, instead working through nonprofit firm Bridgespan. (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.). The remaining funds will go to initiatives such as fellowships for artists that include full salary and benefits, support for LGBTQ people of color breaking into Hollywood and administrative tasks like hiring additional staff. She was behind the wheel when she and Mr. Bezos drove to Seattle to start an online bookstore named after a Brazilian river. 2023 Vox Media, LLC. The unrestricted grants offered organizations space to learn and experiment lessons that can be shared to uplift an entire field. An infusion of $15 million from Scottthe largest single donation in Accions 27 year historywas immediately put to work in a Covid relief fund. Scott, the ex-wife of the worlds richest person, Amazon founder Jeff Bezos (net worth nearly $200 billion), was making a transformative donation to Morgan of $40 million. A representative for MacKenzie Scottcurrently the worlds 19th richest person with a net worth of $59 billionhad a message to deliver. Free ensured Covid compliance while continuing to create trademark dishes (like herb-sliced chicken breast and key lime tartlet) made with local, organic ingredients by delivering customized gift boxes and ready-to-heat meals to each conference participants home. The business was teetering on the brink. It's not only a significant moment for myself, but it's a moment for BIPOC-led and BIPOC-serving art institutions at a time when we have been devastated by the pandemic, she says. 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