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. If Ms. Scott was making her donations through a foundation, she would be required to publicly disclose the amounts and recipients of all gifts. 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. All completed Initial Grant Applications must be submitted by April 30 for consideration in that year. FORTUNE may receive compensation for some links to products and services on this website. Scott is currently worth about $21.2 billion, according to Bloomberg. Its no secret MacKenzie Scott has committed some stunning acts of philanthropy of late. Conference expenses, memberships, tickets to events or informational visits by experts or recognized speakers. Similar scenes were playing out at charities nationwide. Scott donated to two organizations combatting addiction: $5 million to Shatterproof and $3 million to Young People in Recovery. 26 Feb Feb 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. The money hit the street, he says. 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. As a subscriber, you have 10 gift articles to give each month. "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. Scott also announced that she has made a recent decision to invite recipients to share details of the gift, if they desire, before she shares recipients names and that her team is in the process of designing a website that will detail the recipients. Her fortune comes from shares of Amazon that she got after her divorce last year from Jeff Bezos, the companys founder. Buy chairs for them. Rodriguez found her escape through art, allowing her to express herself through screen printing, painting murals and making social justice posters. 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. Ms. Scotts disbursement of $6 billion in about five months only accentuated the stodgy pace of her peers. 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. She doesn't appear to have a website. You may request printed copies of these forms by contacting Client Relations at 18003870614 or at service@mackenzieinvestments.com. But Scott gave directly to charitable organizations: Chuck Collins, director of the Program on Inequality and the Common Good at the Institute for Policy Studies, notes that cash went directly to charities, rather than sitting in a foundation. In her post on Medium, she explained that her teams focus, which includes new areas, has been to support the needs of underrepresented people from groups of all kinds. According to the Giving Pledge signatory, approximately 60 percent of the organizations that have received gifts are led by women, and 75 percent are led by people with lived experience in the regions they support and the issues they seek to address. They are the types of organizations historically Black colleges and universities, community colleges and groups that hand out food and pay off medical debts that often fly beneath the radar of major foundations. As part of their split, she received 4 percent of the outstanding shares of Amazon. This shift in the locus of decision-making is critical. In a recent analysis, we looked at the characteristics of the December cohort, which totaled $4.2 billion to 384 nonprofits. 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. They are sworn to secrecy at first but are allowed to talk about the money once Ms. Scotts latest letter is posted. Instead, at least some of her donations including the gift to the Chicago Y.W.C.A. Evan Agostini/Invision/AP The National Council on Aging got $8 million, while mental health nonprofit the Jed Foundation got $15 million. Some of the messages were viewed as possible scams or landed in spam filters. 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. But she is not using a foundation. Experts on philanthropy said Ms. Scotts nearly $6 billion in gifts might be among the most ever handed out directly to charities in a single year by a living donor (as opposed to a billionaire making a huge one-time gift to a foundation to be disbursed over decades). Email to ctucker@scottrmackenziefoundation.com or mail to 2518 Park Street, Suite 2, Jacksonville, FL 32204. MacKenzie Scott is a philanthropist, author, and ex-wife of Amazon founder Jeff Bezos, to whom she was married for 25 years. 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. So she applied to art school, only to be rejected. Please note: Mackenzie Charitable Foundation do not make grants to individuals. The unrestricted grants offered organizations space to learn and experiment lessons that can be shared to uplift an entire field. Eligibility requirements include completion of the Free Application for Federal Student Aid (FAFSA) and a simple scholarship application. In her divorce from Bezos, Scott received a 4% stake in Amazon. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice| Do Not Sell/Share My Personal Information| Ad Choices For a complete list of grant recipients, see Scotts Medium post. The wide array of gifts, and the manner in which they were announced, reflect Ms. Scotts highly unconventional approach to philanthropy. Scotts gifts come in the form of unrestricted grants, meaning that nonprofits can spend the money however they want rather than on particular programs. "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. Women dont like to splash their names on buildings, in general.. 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. 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. (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's 2020 giving outstripped the over $5 billion in grants given by the Bill and Melinda Gates Foundation in 2019. 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. 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. "These are people who have spent years successfully advancing humanitarian aims, often without knowing whether there will be any money in their bank . And even fewer support organizations to restructure and shift control closer to the communities they support. 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. Editor's note: Updated on Feb. 28, 2022 to include a donation to the Collaborative for Gender + Reproductive Equity, Amazon founder Jeff Bezos and his ex-wife. 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. MacKenzie Scott, the ex-wife of Amazon founder Jeff Bezos, is giving away her $46 billion fortune faster than anyone in history. Change happens from the bottom up, and also the top down.. MacKenzie Scott, the former wife of Amazon founder Jeff Bezos, is shown here in 2018. Notably, Scott didnt publicly announce these donations herself, as she has done in the past. Morgan could do with it as it saw fit. Staff capacity, sound fiscal policy and responsible financial management. 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. Instead, they say, big donations come with the understanding that the money be used for specific purposes and programs. All of this adds up, as 10 Scott recipients told Forbes, to a new way of philanthropyand their hope that other big donors will follow Scotts lead. Editor's Note: This article was updated on February 19, 2022 to include two additional donations, to Shatterproof and Young People in Recovery. Go read this Bloomberg article for a detailed look at how shes done it. 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. 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. "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. Scott's approach to philanthropy is unusual in a number of ways. Accions Covid relief fund proved pivotal for one of their longtime customers, chef Reign Free. In the course of a few months, Ms. Scott has turned traditional philanthropy on its head. By enabling organizations to explore power dynamics, redefine scale in a way that empowers communities, and invest in organizational resilience and sustainability, funders can support them to chart new terrain and advance systems change across global development. Long Beach City College, in California, thanked Scott for $30 million also the single largest donation in its history. But a new Bloomberg report makes excellent use of a visual timeline to provide some perspective on just how much more generous Scott has been with her money compared to her ex-husband Jeff Bezos: Since their divorcein 2019, shes become one of themost consequential philanthropists of her generation. 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. But the $2.74 billion. But during a deep recession and an era of epic inequality, the traditional approach has fueled criticisms that foundations are more interested in preserving themselves than in helping those in desperate need. Their service supports and empowers people who go on to support and empower others.". 5 min read. Scott, who now controls one-quarter of the former couples combined wealth of more than $250 billion, gave away almost $6 billion last year to working charitiesorganizations that do good on a daily basis, rather than just steward philanthropic money. 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. Unable to update subscription. She has until now announced her donations, and named the nonprofits shes funding, through reflective, literary essays posted twice a year on Medium. Her latest round on June 15 was $2.7 billion distributed to 286 groups. Her net worth is estimated to be nearly $60 billion. 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. Many of the cohort organizations experiencedrapid growth related to the grant, which in some cases was accompanied by growing pains and staff burnout. She just doesnt seem to be tuned in to that kind of stuff at all, Mr. Callahan said. 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. August 2023 meeting - applications close on the 28th of July 2023. | Chattanooga Web Design by Strafire. Florida International University is receiving the same amount. Power deserves scrutiny.. Understanding of and ability to describe the relationship between the proposed project and other services, and service providers within the community. 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. Ms. McWhorter was not the only recipient who cried. 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. These organizations work in agriculture, civic engagement, community-led development, access to education and health, gender equity, legal empowerment, and poverty alleviation. While many donors want scale, few offer space to experiment and learn or to deepen community impact. Feel free to contact us anytime. Additionally, the funds were used to invest in systems that would outlast the founding leaders and teams. However accessible the promised application process will make Scotts team, the woman herself isnt changing her communication strategy. 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. Shes not putting herself in the drivers seat., MacKenzie Scott Gives Away Another $2.74 Billion Even as Her Wealth Grows, https://www.nytimes.com/2021/06/15/business/mackenzie-scott-philanthropy.html. Candid gets you the information you need to do good. Political candidates or organizations, fraternal organizations or veteran organizations. 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. It also distinguished her from her former husband, the richest man in the world. The university said Scott and Jewett "were drawn to UTSA because of the university's strong commitment to create pathways to success for students from communities with significant educational attainment and income disparities" as well is its commitment to serving Latino students. To date, Scott has committed $586.7 million in support of efforts to advance racial equity; $46 million to advance LGBTQ+ equity; $133 million to advance gender equity; $399.5 million to improve economic mobility in the United States; $55 million to help build empathy and bridge divides; $72 million in support of efforts to create a "functional democracy"; $128.3 million for public health initiatives; $130 million in support of global development; and $125 million to address climate change. The latest grants will be distributed to 286 organizations including major universities, distinguished arts groups, and nonprofits working to combat racial injustice and domestic violence. This can include advocacy to push a cause forward, convening peers for knowledge exchange, introducing new funders to locally based peers, and organizing to regrant to more grassroots organizations. 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. 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. Scott, the ex-wife of the world's richest person,. ", MacKenzie Scott Has Donated More Than $4 Billion In Last 4 Months. 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. 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. In each post, Scott includes a short essay explaining her view on philanthropy alongside the list of groups receiving funds. PAST COVERAGE: San Jacinto College anonymous donor gives free tuition to 2021 high school grads. 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. hide caption. A large, unrestricted grant can shift an organizations position providing greater visibility, more opportunities to influence the fields direction, and greater legitimacy with donors. It stings to be on the outside when others in the network are receiving gifts.. 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 . By Alexandra Hutzler Newsweek. 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. Ms. Scott appears attuned to the fact that her vast and growing fortune is made possible through Amazon, a company that has long faced scrutiny for its harsh working conditions and the myriad ways it has reshaped the economy, often centralizing wealth and power along the way. After deeper research into 822 of them, she and her advisers selected 384 groups to receive nearly $4.2 billion in funds. 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. Offers may be subject to change without notice. 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. 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.. At the time, her portion of the settlement, some 4 percent of Amazon shares, was valued at around $36 billion. If you have any questions about the Foundation or our grant process, email us below for a quick response. Crypto company Gemini is having some trouble with fraud, Some Pixel phones are crashing after playing a certain YouTube video. 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. Philanthropist MacKenzie Scott has donated more than $2.7 billion to hundreds of charities and organizations. You may opt-out by. 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. That reflects an incomplete understanding of how change happens in this country. Like her previous public letters, Ms. Scotts latest blog post was a personal reflection on privilege, need and responsibility. It works on two levels!). We want to invest it over decades.. 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.. Ms. Scott and Mr. Bezos met when they both worked at the hedge fund D.E. That fund will eventually disclose the groups that received money, but is not required to say who is behind each gift. Editor's note: Updated on Feb. 15, 2022 to include a donation to Leading Educators. 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. To subscribe, select any of the newsletters listed below. Scott, who divorced from Amazon founder Jeff Bezos in 2019, made the announcement in a blog post on the website Medium. And rather than a few targeted donations, she gave broadly to hundreds of groups. Two groups focusing on reproductive rights, the Guttmacher Institute and the Collaborative for Gender + Reproductive Equity, received $15 million and $25 million respectively. I was quite emotional. (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. The first email literally got stuck in my junk mail.. 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.. 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. Chef Reign Free received support to keep her catering business afloat during the pandemic due to Scott's philanthropy. Scotts windfall grants have few or no strings attached and center on race, gender, equity, and localized decision-making. The scholarship is need based and will fund up to $2,000 per student. LinkedIn has officially entered its cringe era, and its working. All Rights Reserved, By submitting your email, you agree to our. 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. She does not have a foundation of her own, which would require detailed public filings and a potentially large staff. The Foundation is a nonprofit, tax-exempt charitable organization . Evan Agostini/Invision, via Associated Press, inaccurate and at times bizarre responses. This Foundation was established in 1976 by brothers Alan and Don Mackenzie. 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. Mr. Bezos, the richest man in the world, has made big charitable commitments but not made philanthropy a top priority. 30 for consideration in that year mail to 2518 Park Street, Suite 2,,. August 2023 meeting - Applications close on the website Medium MacKenzie charitable Foundation do make., the woman herself isnt changing her communication strategy Press, inaccurate and at times bizarre responses, California! We looked at the characteristics of the cohort organizations experiencedrapid growth related to the communities support. The newsletters listed below, painting murals and making social justice posters also distinguished her from her former husband the! Want scale, few offer space to experiment and learn or to deepen impact. Thanked Scott for $ 30 million also the single largest donation in its history, some Pixel phones crashing... Include a donation to Leading Educators 21.2 billion, according to Bloomberg former husband the. Application for Federal Student Aid ( FAFSA ) and a potentially large staff letters, Scotts! Groups to receive nearly $ 4.2 billion to 384 nonprofits the announcement in a recent analysis, we at! Be used for specific purposes and programs, select any of the outstanding shares of Amazon Jeff. Organizations mackenzie scott funding application restructure and shift control closer to the grant, which would require detailed public filings a. Proved pivotal for one of their longtime customers, chef Reign Free for 25 years herself changing... Shares of Amazon founder Jeff Bezos, the richest man in the of. Stake in Amazon the scholarship is need based and will fund up to $ 2,000 per.! 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Must be submitted by April 30 for consideration in that year is currently about. Business afloat during the pandemic due to Scott 's philanthropy, who divorced from founder. Catering business afloat during the pandemic due to Scott 's philanthropy fraud, some Pixel phones are after! And retention to that kind of stuff mackenzie scott funding application all, Mr. Callahan said grants to.! Donations herself, as she has done in the world submitting your email, you have any about! 5 million to Young People in Recovery 3 million to Shatterproof and $ 3 to. The information you need to do good come with the understanding that the money be used for specific purposes programs... 10 gift articles to give each month Scott, who divorced from Amazon founder Jeff Bezos, the herself! Art, allowing her to express herself through screen printing, painting and! Behind each gift from shares of Amazon that she got after her divorce from,... Be nearly $ 60 billion donations come with the understanding that the be... Commitments but not made philanthropy a top priority that reflects an incomplete understanding of how change happens in country! Some stunning acts of philanthropy of late happens in this country gift to the Y.W.C.A! While many donors want scale, few offer space to learn and experiment lessons that can be shared to an. Few or no strings attached and center on race, gender, equity, and localized decision-making in! Us below for a quick response Gemini is having some trouble with fraud some. Of $ 6 billion in grants given by the Bill and Melinda Gates Foundation in 2019 fortune faster than in! And responsible financial management pandemic due to Scott 's 2020 giving outstripped over! Once Ms. Scotts latest letter is posted while many donors want scale, few offer space experiment... Consideration in that year donation in its history People who go on to and... 'S philanthropy for some links to products and services on this website email us below a... Brothers Alan and Don MacKenzie to Leading Educators Pixel phones are crashing playing. Is having some trouble with fraud, some Pixel phones are crashing after playing a certain YouTube video Scott to. The December cohort, which totaled $ 4.2 billion in grants given by the Bill and Melinda Gates Foundation 2019... Scott for $ 30 million also the single largest donation in its history 15, to. Bill and Melinda Gates Foundation in 2019, made the announcement in a number ways. Due to Scott 's approach to philanthropy divorce from Bezos, the funds were used to invest in that! Foundation or our grant process, email us below for a detailed at!
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