As a subscriber, you have 10 gift articles to give each month. And, unlike much philanthropic giving to institutions of higher education, the Scott money came with no strings attached. Get the latest nonprofit news, funding opportunities, job openings, and more delivered to your inbox with Philanthropy News Digest newsletters. Ms. Scott, who declined to comment, rocketed to public attention with the announcement nearly two years ago that she and Mr. Bezos were divorcing. Charitable groups applauded the unconditional nature of Ms. Scotts gifts. 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 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. 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. She thought she had found her lifes calling, but says there were a lack of opportunities. Terms & Conditions. 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. 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. Eventually. 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. 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. 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. 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. 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. 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. 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. On July 28, 2020, MacKenzie Scott shocked the philanthropic community by donating USD 1.7 billion to 116 nonprofits around the world. Like Urrutia, Favianna Rodriguez is working to aid communities of color. 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. 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. 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. MacKenzie. A large, unrestricted grant can shift an organizations position providing greater visibility, more opportunities to influence the fields direction, and greater legitimacy with donors. Ms. Scotts team recently sent out hundreds of out-of-the-blue emails to charities, notifying them of an incoming gift. "Many reported that this trust significantly increased the impact of the gift," Scott wrote. Scott, the ex-wife of the world's richest person,. This Foundation was established in 1976 by brothers Alan and Don Mackenzie. She doesnt appear to have an office or even a mailing address for her philanthropy, instead working through nonprofit firm Bridgespan. The recipients span from institutions of higher education and arts and culture, to organizations fighting poverty, working on interfaith issues and building community engagement. The Scott R. MacKenzie Foundation grants funding for genome research in order to advance cures. Unable to update subscription. ", "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. By Invitation Only. Her fortune comes from shares of Amazon that she got after her divorce last year from Jeff Bezos, the companys founder. The article also notes that Bezos and Scott tend to differ in how they donate their money. 2023 Fortune Media IP Limited. You may opt-out by. To maximize time for giving and ensure information reaches us at times when we are prepared to review it, we do not invite unsolicited messages suggesting candidates, including forwards from friends, family, or personal connections, Scotts website says. MacKenzie Scott, the former wife of Amazon founder Jeff Bezos, is shown here in 2018. And while that rate is breaking records, Scott needs her giving machine to work faster, because the stock she holds in Amazon has rocketed in value from $23.6 billion this year to $60.7 billion, according to the Bloomberg Billionaires Index . Like the $4 billion Scott gave to 384 organizations in the last four months of 2020, the donations are unrestricted, so recipients can use the money as they see fit. Chef Reign Free received support to keep her catering business afloat during the pandemic due to Scott's philanthropy. Find new creative ways to help. 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. Helping any of us can help us all.. Instead, at least some of her donations including the gift to the Chicago Y.W.C.A. An infusion of $15 million from Scottthe largest single donation in Accions 27 year historywas immediately put to work in a Covid relief fund. The first email literally got stuck in my junk mail.. Scott's post lists all the recipients but doesn't state the amount of money they've been granted. 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. All completed Initial Grant Applications must be submitted by April 30 for consideration in that year. While a windfall grant can boost organizational legitimacy, organizations and donors must intentionally craft a strategic message around organizational impact and priorities. 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. MacKenzie Scott seems to be nonresponsive to traditional approaches (there is no application process) and operates much more like a Donor Advised Fund (DAF). Florida International University is receiving the same amount. They divorced in mid-2019 and she received 25% of his Amazon stake. Unrestricted large grants help push the global development field forward with opportunity for increased growth, sustainability, and innovation. Ms. Scott made that pledge in 2019, after her divorce from Jeff Bezos. Similar scenes were playing out at charities nationwide. She refers to a team of advisers rather than a large dedicated staff. MacKenzie Scott, the ex-wife of Amazon founder Jeff Bezos, is giving away her $46 billion fortune faster than anyone in history. Here are some deeper insights from our pilot cohort of Scott grant recipients for the global development sector: Global recipient organizations are redefining the notion of scale and increasing impact by reaching more people in ways that give communities greater agency. If you have any questions about the Foundation or our grant process, email us below for a quick response. 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. For a complete list of grant recipients, see Scotts Medium post. Dance Theater of Harlem, which received $10 million, said the gift was the largest in its history. Collaboration and cooperation with other organizations. 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. After deeper research into 822 of them, she and her advisers selected 384 groups to receive nearly $4.2 billion in funds. If you are looking for a way to serve humanitys common cause, every one of them is a great candidate. MacKenzie Scott is a philanthropist, author, and ex-wife of Amazon founder Jeff Bezos, to whom she was married for 25 years. Additionally, the National 4-H Council, an agriculturally focused youth organization, received $50 million. 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. Email us below for a quick response 2019, after her divorce from Jeff Bezos nearly $ 4.2 in... 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