Scott, who divorced from Amazon founder Jeff Bezos in 2019, made the announcement in a blog post on the website Medium. Anyone can read what you share. And rather than a few targeted donations, she gave broadly to hundreds of groups. Staff capacity, sound fiscal policy and responsible financial management. You may request printed copies of these forms by contacting Client Relations at 18003870614 or at service@mackenzieinvestments.com. Powered and implemented by Interactive Data Managed Solutions. Collaboration and cooperation with other organizations. But the $2.74 billion in gifts, announced just six months after that windfall, firmly establishes her as the most generous and influential philanthropist working today. And although Ms. Scott offered a list of nearly 400 organizations, she could well have given gifts to other groups. Ms. Scott made that pledge in 2019, after her divorce from Jeff Bezos. So she planted the seeds in 2011 of what became The Center For Cultural Power, supporting people of color working at the intersection of arts and activism. She gave surprise gifts totaling $410 million to historically Black colleges and universities in December 2020 alone, adding to the nearly $6 billion she gave away last year. Her latest round on June 15 was $2.7 billion distributed to 286 groups. Philanthropist MacKenzie Scott has donated more than $2.7 billion to hundreds of charities and organizations. 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. This system forces them to constantly fundraise and use a patchwork approach to finance their missions, rather than letting them focus on accomplishing those missions. 2023 Vox Media, LLC. Scotts gifts come in the form of unrestricted grants, meaning that nonprofits can spend the money however they want rather than on particular programs. "These are people who have spent years successfully advancing humanitarian aims, often without knowing whether there will be any money in their bank . "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. Bezos is following in the footsteps of other famous billionaires who turned their focus toward philanthropy after retiring from the day-to-day of running a business. "Their gift enables us to increase our impact for generations of students and inspires others to invest in building the future of America," he wrote. This followed an announcement. In 2020, a year of incredible need, Ms. Scott gave away nearly $6 billion to 500 organizations. GRANT APPLICATION Jacksonville's Scott R. MacKenzie Foundation offers grants for genetic research. And something greater rises up every time we give." Women dont like to splash their names on buildings, in general.. An infusion of $15 million from Scottthe largest single donation in Accions 27 year historywas immediately put to work in a Covid relief fund. When I got off the phone I had to collect myself, says Morgan President David Wilson. In giving away her billions so rapidly, Ms. Scott continues to chip away at the philanthropic status quo, which is dominated by big foundations with large program staffs that select grantees and manage the donations. chapters. While many donors want scale, few offer space to experiment and learn or to deepen community impact. 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. Scott also won praise from philanthropy experts for the way she donated her money: without strings attached. 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. 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. As a subscriber, you have 10 gift articles to give each month. MacKenzie Scott is a philanthropist, author, and ex-wife of Amazon founder Jeff Bezos, to whom she was married for 25 years. So far, MacKenzie Scott has donated almost $6 billion in gifts. Unable to update subscription. 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. 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. Yet in the latest batch of grantees, Ms. Morey saw little evidence that Ms. Scott was attempting to use her wealth to counter Amazons influence. By disbursing her money quickly and without much hoopla, Ms. Scott has pushed the focus away from the giver and onto the nonprofits she is trying to help. At the time, her portion of the settlement, some 4 percent of Amazon shares, was valued at around $36 billion. 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. But the $2.74 billion. Over the course of 2020, MacKenzie Scott announced grants totaling almost $6 billion. And though in many ways Ms. Scott is upending how philanthropy has worked in recent decades, she also invested in several mainstays of the existing philanthropic community. For a complete list of grant recipients, see Scotts Medium post. Who Can Apply for a Grant? Instead, they say, big donations come with the understanding that the money be used for specific purposes and programs. She refers to a team of advisers rather than a large dedicated staff. Candid gets you the information you need to do good. Ms. Scotts latest round of giving was less than the $4.2 billion in grants announced in December, which she linked directly to the enormous needs generated by the pandemic. The purpose of the Grants Process is to accomplish the mission of the Foundation through innovative and effective grantmaking and stewardship in a way that: All organizations applying for Foundation funds must be able to demonstrate the following organizational characteristics: Copyright 2014 - McKenzie Foundation - All rights reserved. Including February's gifts, she has given away a total of $8.8 billion in less than two years to more than 780 organizationsmore than four times what her ex-husband has donated so far in his lifetime, Forbes calculates. The article also notes that Bezos and Scott tend to differ in how they donate their money. 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. That allows their endowments to keep growing and the foundations to survive in perpetuity, and some foundations argue that it allows them to take the time to make grants that will yield the best results. A representative for MacKenzie Scottcurrently the worlds 19th richest person with a net worth of $59 billionhad a message to deliver. 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. MacKenzie Scott seems to be nonresponsive to traditional approaches (there is no application process) and operates much more like a Donor Advised Fund (DAF). 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. These are the kinds of stories Scotts grant was able to propel, says Urrutia. In her divorce from Bezos, Scott received a 4% stake in Amazon. If you are looking for a way to serve humanitys common cause, every one of them is a great candidate. LinkedIn has officially entered its cringe era, and its working. Scott's post lists all the recipients but doesn't state the amount of money they've been granted. The organizations invested in their sustainability put the grants toward areas such as programmatic innovation, operations and infrastructure, reserves, salaries, new recruitment, and staff and leadership development. 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. Organizations where person(s) are excluded from employment, volunteer participation, or agency services because of age, gender, race, national origin, religious beliefs and background, physical abilities, disability, sexual orientation, economic circumstances, and any other characteristic protected by law. Conference expenses, memberships, tickets to events or informational visits by experts or recognized speakers. A representative for MacKenzie Scott currently the world's 19th richest person with a net worth of $59 billionhad a message to deliver. Their service supports and empowers people who go on to support and empower others.". She does not have a foundation of her own, which would require detailed public filings and a potentially large staff. The National Council on Aging got $8 million, while mental health nonprofit the Jed Foundation got $15 million. Power deserves scrutiny.. They divorced in mid-2019 and she received 25% of his Amazon stake. 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. To subscribe, select any of the newsletters listed below. 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. I even shed a tear. Wilson says he plans to add 95% of Scotts donation to Morgans $100 million endowment, which will help fund scholarships, academic research and innovative new programs including work on health equity and intergenerational mobility. The pilot cohort, which ran from May to November 2022, included 22 global development and human rights organizations based in Africa, Asia, Europe, and the U.S. 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. The Bloomberg timeline shows how the pace of giving shifted after the couple divorced; prior to 2019, they made several million- and multimillion-dollar donations here and there. His network of nonprofits in November 2021 received a surprise phone call from a member of Scotts team, promising grants thateventually totalled$133.5million, for the national organization and 40 of its 110 affiliates; but for the 70 other affiliates, Saldaa acknowledged, the conversation was a difficult one. Instead, at least some of her donations including the gift to the Chicago Y.W.C.A. Many donors of large amounts have specific instructions for how they want charities to use their funds. Exceptions may be made for religious organizations who can demonstrate bona fide occupational qualifications based on religious belief for employment and volunteer participation. However long it takes to become reality, the promised application process marks an intriguing strategy shift for Scottand an apparent response to some of the criticisms she has faced. A base of community and financial support. After divorcing the Amazon founder Jeff Bezos, she signed the Giving Pledge in 2019, promising to give away the bulk of her share of the Amazon fortune. 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.. (In practical terms, shes even more impressive: Last years second-biggest donor to charity, Elon Musk, directed his $5.7 billion donation in Tesla shares to his personal foundation, reaping a tax benefit without distributing much of the money to charity, tax records show.). MacKenzie Scott has unveiled a website to provide more transparency around her philanthropic efforts. "We are so grateful for MacKenzie Bezos' support of our work to empower LGBTQ students and springboard a new generation of LGBTQ leaders toward success," said Jorge Valencia, executive director and CEO of the Point Foundation, the nation's largest LGBTQ scholarship fund. And, unlike much philanthropic giving to institutions of higher education, the Scott money came with no strings attached. She doesn't appear to have a website. We learned that organizations navigated tough decisions around saving vs. spending balancing the need to create financial sustainability vehicles, such as endowments and setting funds aside for innovation, alongside urgent spending to attend to growing needs amid the pandemic. But shares of the company's stock rose sharply during the pandemic, and despite giving away billions, Scott's wealth keeps growing. Morgan State is one of about 780 organizations to receive part of the $8.5 billion given away by Scott in three rounds since July 2020. This Foundation was established in 1976 by brothers Alan and Don Mackenzie. We don't have a lot of time. Scott donated to two organizations combatting addiction: $5 million to Shatterproof and $3 million to Young People in Recovery. Candid gets you the information you need to do good. Women-led, Black women-led organizations tend to be at the very bottom of the pile for philanthropists, Ms. McWhorter said. A child's future is profoundly influenced by how they learn and develop in their earliest years. Instead, three times in the past 11 months, she has written a blog post on the website Medium, shared some reflections on philanthropy and the causes she supports, and announced that she had given away $1 billion or more. Her fortune comes from shares of Amazon that she got after her divorce last year from Jeff Bezos, the companys founder. After calls for more transparency, in December Scott wrote that she hopes to launch a website with a searchable grants database this year. Billionaire philanthropist MacKenzie Scott and her husband, Dan Jewett, have given away nearly $3.9 billion in grants to 465 organizations including several that are providing humanitarian. The choices, experiences, and reflections of Scotts global grant recipients provide valuable insights to understand where global development aid has fallen short and how to improve philanthropy in order to advance systems change. 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. She was behind the wheel when she and Mr. Bezos drove to Seattle to start an online bookstore named after a Brazilian river. All Rights Reserved, By submitting your email, you agree to our. Otherwise, the windfall gift can take the limelight, shifting the prevailing narrative to become that these organizations no longer need donor funding, which is problematic and erroneous. 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. Come with the understanding that the money be used for specific purposes and programs $ 6 billion to hundreds groups... Behind the wheel when she and Mr. Bezos drove to Seattle to start an online bookstore named after Brazilian... 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