On Wednesday, Scotts team published a long-promised website with details about her philanthropy, including a database of the donations she has made since 2020. Unrestricted large grants help push the global development field forward with opportunity for increased growth, sustainability, and innovation. Scott prefers simply to announce via blog post the organizations she has chosen for her next multibillion-dollar giveaway. 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. 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. Political candidates or organizations, fraternal organizations or veteran organizations. ", MacKenzie Scott Has Donated More Than $4 Billion In Last 4 Months. Many of the gifts were the largest the charities had ever received. 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. We have to quantum leap., This is a BETA experience. Scotts windfall grants have few or no strings attached and center on race, gender, equity, and localized decision-making. 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. In September, she quietly filed for divorce from her second husband, a science teacher named Dan Jewett, who had briefly shared her Giving Pledge page and apparently participated in her donation process. 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. While Scott's participation in funder collaboratives and initiatives such asBlue Meridian Partnersand theEquality Can't Wait Challengehas been noted previously, she had not announced details of her giving. We don't have a lot of time. Not only are nonprofits chronically underfunded, they are also chronically diverted from their work by fund-raising and by burdensome reporting requirements that donors often place on them, Ms. Scott wrote. Editor's note: Updated on Feb. 22, 2022 to include a donation to National 4-H Council. As a subscriber, you have 10 gift articles to give each month. For global south organizations in the cohort that had rarely received unrestricted funds, using this grant to build stronger, more flexible and more diverse revenue streams was a top priority. PAST COVERAGE: San Jacinto College anonymous donor gives free tuition to 2021 high school grads. The Scott grants provide them with breathing room, flexibility to make strategic choices, and the opportunity to focus on systems change work. MacKenzie Scott announces recipients of $1.67 billion in. MacKenzie Bezos Makes Major Gift to Point Foundation & LGBTQ Youth, Howard University receives transformative gift from philanthropist MacKenzie Scott, Pivotal Ventures launches challenge to accelerate gender equality, U.S. billionaires' wealth up $434 billion during pandemic, study finds, Blue Meridian Announces $100 Million COVID-19 Response Initiative, 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. (Editor's note: The amount of money transferred into Lehman College's endowment has been changed based on updated information provided by the college.) In a December Medium post, Scott said she would not reveal the latest recipients of her donations, arguing that the media focuses too much on her and not on the groups she gives money to. 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. 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. 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. All Rights Reserved. Change happens from the bottom up, and also the top down.. Exceptions may be made for religious organizations who can demonstrate bona fide occupational qualifications based on religious belief for employment and volunteer participation. If he needs some pointers on how to have a meaningful impact with his gigantic fortune, he could do a lot worse than to take a few tips from his ex. In ablog post, Scott whose divorce from Amazon founder and CEO Jeff Bezos reportedly left her with Amazon stock valued at more than $35 billion and whotweetedon Tuesday that she would begin using her middle name as her last name wrote that she had been working with nonprofit advisors from historically marginalized race, gender, and sexual identity groups to help identify and evaluate potential grantees. (I'm still chuckling at the image for the year 2014 when the Bezoses donated a total of $2.25 million to fund clinical food allergy . However accessible the promised application process will make Scotts team, the woman herself isnt changing her communication strategy. Shaw. 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. Unable to update subscription. 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. / Sign up for Verge Deals to get deals on products we've tested sent to your inbox daily. She has swiftly followed through, and by 2021 had become the third most generous U.S. philanthropist on paper. Scott alluded to her thinking behind helping groups helping others in her latest Medium post, writing, We believe that teams with experience on the front lines of challenges will know best how to put the money to good use. Ultimately, Urrutia says, Scotts philanthropy sends the message that you and your team know how to best deploy the dollars.. A spokeswoman for Bridgespan said that the group was not in a position to share details about our clients processes, adding, What we can say is that we feel very privileged to get to do this work.. MacKenzie Scott has unveiled a website to provide more transparency around her philanthropic efforts. She was behind the wheel when she and Mr. Bezos drove to Seattle to start an online bookstore named after a Brazilian river. As part of their split, she received 4 percent of the outstanding shares of Amazon. Get the latest nonprofit news, funding opportunities, job openings, and more delivered to your inbox with Philanthropy News Digest newsletters. But Scotts gifts in 2020 were unrestricted, indicating she trusted the people on the ground doing the work, and it gives lie to the idea that its hard to make billion-dollar donations. FORTUNE may receive compensation for some links to products and services on this website. 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. We invite you to join us. To subscribe, select any of the newsletters listed below. Each nonprofit it will list was selected through a rigorous process, and has a strong track record of serving under-supported needs. We have to accelerate. The money hit the street, he says. Ms. Scott's 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. A base of community and financial support. In February alone, nine organizations announced gifts from Scott totaling $264.5 million. 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. Little is known about how Ms. Scott selects her grantees, and there is no formal method for groups to apply for funds. 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. Ms. Scott is under no obligation to publicly disclose anything about her giving. Scotts made quite the impression on the world of philanthropy as a result, even while shunning the spotlight and not talking to reporters. And, unlike much philanthropic giving to institutions of higher education, the Scott money came with no strings attached. 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. Image Credit: Instagram MacKenzie Scott Foundation Website If Ms. Scott was making her donations through a foundation, she would be required to publicly disclose the amounts and recipients of all gifts. 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. 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. The Foundation is a nonprofit, tax-exempt charitable organization . But she is not using a foundation. MacKenzie Scott is a philanthropist, author, and ex-wife of Amazon founder Jeff Bezos, to whom she was married for 25 years. Scott noted that all were awarded general operating support grants but did not disclose individual grant amounts. Feasibility studies for capital campaigns. Free was forced to lay off employees. "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. But two days later, after widespread criticism over this diminished transparency, Scott backpedaledand promised that her team was developing an online database of her gifts. For a complete list of grant recipients, see Scotts Medium post. Get the latest nonprofit news, funding opportunities, job openings, and more delivered to your inbox with Philanthropy News Digest newsletters. Similar scenes were playing out at charities nationwide. 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. Scotts operations have been largely shrouded in secrecy: A writer who calls herself a private person, she and her team refuse all interview requests. Additionally, the funds were used to invest in systems that would outlast the founding leaders and teams. A new MacKenzie Scott Opportunity Scholarship Fund, set to launch this year, is expected to yield an estimated $400,000 per year in new funding for scholarships. 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 . 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. It appears that Scott is taking that kind of feedback to heartand, as she has so often done over her relatively short philanthropic career, has quickly changed course to build a better approach. "These are people who have spent years successfully advancing humanitarian aims, often without knowing whether there will be any money in their bank . As gestures of transparency, she released lists of recipient organizations in July and in December. Corporate events, the companys bread and butter, dried up overnight. Like Urrutia, Favianna Rodriguez is working to aid communities of color. Crypto company Gemini is having some trouble with fraud, Some Pixel phones are crashing after playing a certain YouTube video. Ms. Scott has a recognition that the organizations are doing the good work and let us be the stewards of those dollars.. Many of the cohort organizations experiencedrapid growth related to the grant, which in some cases was accompanied by growing pains and staff burnout. The business was teetering on the brink. They are sworn to secrecy at first but are allowed to talk about the money once Ms. Scotts latest letter is posted. Anyone can read what you share. They included well-known arts groups such as the Apollo Theater and Ballet Hispnico. Collaborative Learning from Impact Philanthropy, $15M MacKenzie Scott grant helps vision sector out of a blind spot, As MacKenzie Scott donates $3.9B, one grantee expresses ambivalence, Global nonprofits among grantees in MacKenzie Scott's $2.7B donation, General Call for CVs Agriculture Specialist, Team Lead & Agriculture Development Specialist, Opinion: Rethinking global health funding for the good of all, Opinion: Why we all play a role in vaccine confidence, Q&A: Beyond borders and money how banks should support Ukraine, How data science can unlock development in least developed countries, Watch: Partnering to close the health equity gap, MacKenzie Scott's giving 'profoundly positive' for nonprofits: report, Devex Newswire: MacKenzie Scott and Jeff Bezos have new giving plans, Melinda French Gates-backed Co-Impact gives $161M in new grants. Giving Billions Fast, MacKenzie Scott Upends Philanthropy Through a streamlined operation, Ms. Scott has given away $6 billion this year, much of it to small charities and nonprofits.. Women-led, Black women-led organizations tend to be at the very bottom of the pile for philanthropists, said Dorri McWhorter, the head of the Y.W.C.A. 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. But now Scott, who is also an author and the ex-wife of Amazon founder Jeff Bezos, has announced in . "Though this work is ongoing and will last for years," she wrote, "I'm posting an update today because my own reflection after recent events revealed a dividend of privilege I'd been overlooking: the attention I can call to organizations and leaders driving change.". Ms. Scott has not given a media interview recently, and maintains a close circle of friends and advisers. And even fewer support organizations to restructure and shift control closer to the communities they support. Philanthropist MacKenzie Scott has announced details of the more than $3.86 billion in gifts she has awarded since June of 2021. She has until now announced her donations, and named the nonprofits shes funding, through reflective, literary essays posted twice a year on Medium. Dia DipasupilGetty Images MacKenzie Scott, the reclusive billionaire who has in three. 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 National Council on Aging got $8 million, while mental health nonprofit the Jed Foundation got $15 million. please try again later. We know that LGBTQ young people are powerful and resilient, and Bezos' gift will allow us to help more LGBTQ young people pursue higher education and achieve their full potential as leaders in our society.". But the Red Door had the rug pulled out from under it when Covid hit. 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. However, some organizations have revealed how much money they'll receive. Yield Givings website includes a page devoted to Scotts process, describing the quiet research and evaluations her team has relied upon to pick recipients. Scott is currently worth about $21.2 billion, according to Bloomberg. Feel free to contact us anytime. All completed Initial Grant Applications must be submitted by April 30 for consideration in that year. 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. 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.. In her blog post, Scott describes systemic societal inequities and her belief that giving money to organizations directly working with communities in need is the way her wealth can be put to use, saying that she, her husband and her staff and advisers "are all attempting to give away a fortune that was enabled by systems in need of change. Get some sleep," Scott suggested. MacKenzie. Today, they are worth about $62 billion, although its unclear how many of the shares Ms. Scott still holds. Long Beach City College, in California, thanked Scott for $30 million also the single largest donation in its history. Ms. Scotts disbursement of $6 billion in about five months only accentuated the stodgy pace of her peers. MacKenzie Scott Announces $4.2 Billion More in Charitable Giving "She's disrupting the norms around billionaire philanthropy by moving quickly," an expert on charities said. In her post on Medium, she explained that her team's focus, which includes new areas, has been "to support the needs of underrepresented people from groups of all kinds." They are tackling questions of power head-on by: Building local leadership and capacity. Scaling community mobilization. Decentralizing boards and staff. Exploring clustering/regional hubs rather than centralized headquarters. If you look at the motivations for the way women engage in philanthropy versus the ways that men engage in philanthropy, theres much more ego involved in the man, its much more transactional, its much more status driven, said Debra Mesch, a professor at the Womens Philanthropy Institute at Indiana University. All told, Ms. Scott whose fortune comes from shares of Amazon that she got after her divorce last year from Jeff Bezos, the companys founder had given more than $4 billion to 384 groups, including 59 other Y.W.C.A. If their choice is to hold onto that wealth or give it away, Im going to come down on the side of giving it away every time., Giving Billions Fast, MacKenzie Scott Upends Philanthropy, https://www.nytimes.com/2020/12/20/business/mackenzie-scott-philanthropy.html. A gift like this for a nonprofit is equivalent to a billion dollars, Accion chief executive Luz Urrutia told Forbes. | Chattanooga Web Design by Strafire. FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. It works on two levels!). Many donors of large amounts have specific instructions for how they want charities to use their funds. Please do not submit any medical/patient information or other private information through this form. Foundations are required by law to pay out at least 5 percent of their endowments a year. 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. Candid gets you the information you need to do good. Her main expression of that critique is giving away so much money so quickly, and supporting so many bottom-up organizations, Mr. Callahan said. [It] will go live only after it reflects the preferences of every one of these nonprofit teams about how details of their gifts are shared., We look forward to sharing the work of these remarkable organizations through this database of their gifts, 1257 to date since my pledge to give away this money with steadiness and care, Scott wrote. Hes stepping down as Amazon CEO later this year and says he plans to focus on other passions, including the Bezos Earth Fund, the Day 1 Fund, and The Washington Post. That mentality of trust is what we need in philanthropy, said Katie Carter, chief executive of the Pride Foundation in Seattle, an L.G.B.T.Q.+ charity that received a $3 million donation. MacKenzie Scott, the former wife of Amazon founder Jeff Bezos, is shown here in 2018. Ms. Scott made that pledge in 2019, after her divorce from Jeff Bezos. Yield Givings website doesnt include any sort of contact information, and a page on Inquiries politely discourages what must be a deluge of informal pitches from anyone who knows anyone who knows Scott. MacKenzie Scott promised she would give her fortune away until the safe is empty. That has proved to be harder than expected. 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. The Scott R. MacKenzie Foundation grants funding for genome research in order to advance cures. Money was tight. Yet even as she disbursed her billions, Ms. Scott expressed some ambivalence about her fortune and the source of it, writing in a blog post that it would be better if disproportionate wealth were not concentrated in a small number of hands.. Some interactive form features may not be fully supported when using Google Chrome. Scott, the ex-wife of the world's richest person,. The website unveiled this week is the result. While many donors want scale, few offer space to experiment and learn or to deepen community impact. By Invitation Only. Powered and implemented by Interactive Data Managed Solutions. She has not been transparent either about the vehicles being used for philanthropy or about the process, said Mr. Reich of Stanfords Center on Philanthropy and Civil Society. Scott also won praise from philanthropy experts for the way she donated her money: without strings attached. Less than two months into 2022, Scott isn't showing any signs of . "Bezos' support comes at a critical moment as we broaden and deepen our efforts to support LGBTQ students who are Black, Indigenous, and people of color and LGBTQ students who are grappling with the COVID-19 pandemic. A representative for MacKenzie Scottcurrently the worlds 19th richest person with a net worth of $59 billionhad a message to deliver. LinkedIn has officially entered its cringe era, and its working. 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. They divorced in mid-2019 and she received 25% of his Amazon stake. This followed an announcement. "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. "Many reported that this trust significantly increased the impact of the gift," Scott wrote. Groups across the country have received funds, and in a variety of areas: public health, education, the arts, racial equity, climate change and economic mobility, to name just a few. They were valued at the time at $38 billion. That reflects an incomplete understanding of how change happens in this country. Severalglobal south recipients used the grant to hone the message that they are the experts and could stop working as subcontractors on the ground under the large INGOs that otherwise often get the big grants. 5 min read. It stings to be on the outside when others in the network are receiving gifts.. For the third time in less than a year, MacKenzie Scott has announced a multibillion-dollar round of grants. In a break from the way many foundations operate, Ms. Scott said her gifts were not earmarked for specific programs. Bipasha Ray is vice president of scalable solutions at Panorama Global, where she designed and facilitated the pilot peer learning cohort of Panoramas CLIP Initiative. Their service supports and empowers people who go on to support and empower others.". 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. Jewett joined Scott in signing the Giving Pledge, a commitment by wealthy individuals to give away a majority of their money. "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. From the way she Donated her money: without strings attached and center on race gender! Scott is under no obligation to publicly disclose anything about her giving largest donation its! Announced gifts from Scott totaling $ 264.5 million fraud, some Pixel phones are crashing after playing a certain video! Also won praise from Philanthropy experts for the way many foundations operate, ms. has. She has swiftly followed through, and the ex-wife of Amazon founder Jeff Bezos, is shown here in.. 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