Scott, the ex-wife of the world's richest person,. Ms. Scotts disbursement of $6 billion in about five months only accentuated the stodgy pace of her peers. 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. However, some organizations have revealed how much money they'll receive. Scott, the ex-wife of Amazon founder Jeff Bezos, made the announcement in a Medium blog post on Tuesday. Metropolitan Chicago, got a phone call from a representative of the billionaire philanthropist MacKenzie Scott. They divorced in mid-2019 and she received 25% of his Amazon stake. But shares of the company's stock rose sharply during the pandemic, and despite giving away billions, Scott's wealth keeps growing. We want to invest it over decades.. As a subscriber, you have 10 gift articles to give each month. It was really difficult to know what their criteria wasand sure, Id love to be able to provide input, Rey Saldaa, CEO of Communities in Schools, told Fortune earlier this year. They are sworn to secrecy at first but are allowed to talk about the money once Ms. Scotts latest letter is posted. Instead, most grant recipients first learn of their potential windfall when they are approached by representatives of Ms. Scott, often from the nonprofit consulting firm the Bridgespan Group, and told that they are under consideration for a substantial sum from an anonymous giver. In 2020, a year of incredible need, Ms. Scott gave away nearly $6 billion to 500 organizations. 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. The unrestricted grants offered organizations space to learn and experiment lessons that can be shared to uplift an entire field. 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. 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. ", MacKenzie Scott Has Donated More Than $4 Billion In Last 4 Months. Chuck Collins, director of the Program on Inequality and the Common Good at the Institute for Policy Studies, said at the time of Scott's last round of donations that she was "putting to shame the other 650 U.S. billionaires who haven't [figured] out comparable ways to boldly share. But she is not using a foundation. Scott donated to two organizations combatting addiction: $5 million to Shatterproof and $3 million to Young People in Recovery. Over the course of 2020, MacKenzie Scott announced grants totaling almost $6 billion. 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. A base of community and financial support. Must be postmarked by April 30th. Two groups focusing on reproductive rights, the Guttmacher Institute and the Collaborative for Gender + Reproductive Equity, received $15 million and $25 million respectively. 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. 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. 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. were made through a Fidelity donor-advised fund. Jeff Bezos and MacKenzie Scott in 2018. I was quite emotional. So far, MacKenzie Scott has donated almost $6 billion in gifts. She doesn't appear to have a website. 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. The money hit the street, he says. 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. After calls for more transparency, in December Scott wrote that she hopes to launch a website with a searchable grants database this year. 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.. Jewett joined Scott in signing the Giving Pledge, a commitment by wealthy individuals to give away a majority of their money. 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. A gift like this for a nonprofit is equivalent to a billion dollars, Accion chief executive Luz Urrutia told Forbes. 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. Scotts windfall grants have few or no strings attached and center on race, gender, equity, and localized decision-making. She had a tough childhood, she says, having grown up in the 1980s as the child of Peruvian immigrants in San Franciscos Bay Area amid the onset of the war on drugs and era of mass incarceration. 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. Subscribe here. 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.. A representative for MacKenzie Scott currently the world's 19th richest person with a net worth of $59 billionhad a message to deliver. Like Urrutia, Favianna Rodriguez is working to aid communities of color. Go read this Bloomberg article for a detailed look at how shes done it. Instead of traditional in-person corporate events, The Red Door began to provide food for virtual conferences by making at-home deliveries to attendees in the Bay Area. But now Scott, who is also an author and the ex-wife of Amazon founder Jeff Bezos, has announced in . 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. Philanthropist MacKenzie Scott has announced details of the more than $3.86 billion in gifts she has awarded since June of 2021. The wide array of gifts, and the manner in which they were announced, reflect Ms. Scotts highly unconventional approach to philanthropy. MacKenzie Scott, the ex-wife of Amazon founder Jeff Bezos, is giving away her $46 billion fortune faster than anyone in history. We're looking at the crisis of the epidemic, the economic crisis, the climate crisis, and this moment of racial reckoning. Corporate events, the companys bread and butter, dried up overnight. 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. The Scott R. MacKenzie Foundation funds leading-edge human genetic research to advance cures for cancer, lung disease, diabetes and heart disease. 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. 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 university will use the funds to meet needs in four areas, including campus infrastructure improvement projects, a new faculty development plan, a program focused on social innovation and entrepreneurship, and one of its signature retention programs, the Graduation & Retention Access to Continued Excellence (GRACE) Grant. Less than two months into 2022, Scott isn't showing any signs of . 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. Learn more Adolescent Learning This Foundation was established in 1976 by brothers Alan and Don Mackenzie. Thanks to the soaring value of that stock, Ms. Scott is accumulating wealth faster than she can give it away. And even fewer support organizations to restructure and shift control closer to the communities they support. Eventually. 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. 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. Some of the messages were viewed as possible scams or landed in spam filters. hide caption. 26 Feb Feb 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. 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. 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. (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.). [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. 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. Ms. Scott is working on her giving with the Bridgespan Group, a nonprofit organization in Boston that advises charities and philanthropies, including those set up by Mr. Gates and Michael Bloomberg, as well as the Ford and Rockefeller foundations. Crypto company Gemini is having some trouble with fraud, Some Pixel phones are crashing after playing a certain YouTube video. Stop having to work every weekend. Ms. Scott made that pledge in 2019, after her divorce from Jeff Bezos. 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. When I got off the phone I had to collect myself, says Morgan President David Wilson. Ms. Scott has not given a media interview recently, and maintains a close circle of friends and advisers. 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. 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 . 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. PAST COVERAGE: San Jacinto College anonymous donor gives free tuition to 2021 high school grads. Yield Givings website includes a page devoted to Scotts process, describing the quiet research and evaluations her team has relied upon to pick recipients. 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. But the moment Rodriguez was waiting for came two weeks ago, when Scott donated $11 million to the group. Image Credit: Instagram MacKenzie Scott Foundation Website 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. Feel free to contact us anytime. 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. 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. Women dont like to splash their names on buildings, in general.. She said she hoped to de-emphasize privileged voices and cede focus to others.. Scott is currently worth about $21.2 billion, according to Bloomberg. It also promises an upcoming open-call process to introduce an additional pathway for information about organizations to reach us. The open calls will focus on one or more specific themes, geographies, and types of organizations at a time, according to the website. 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. 5 min read. BEGIN THE APPLICATION PROCESS. 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. Anyone can read what you share. 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. Mackenzie Scott gave nearly $6 billion to charity in 2020. . Philanthropist MacKenzie Scott has donated more than $2.7 billion to hundreds of charities and organizations. Rodriguez found her escape through art, allowing her to express herself through screen printing, painting murals and making social justice posters. While a windfall grant can boost organizational legitimacy, organizations and donors must intentionally craft a strategic message around organizational impact and priorities. Ms. McWhorter was not the only recipient who cried. 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. Some things Jeff Bezos can do with his $193 billion, Meta backs new tool for removing sexual images of minors posted online, Mark Zuckerberg says Meta now has a team building AI tools and personas, Whoops! Metropolitan Chicago. She seems to have a handle on how to do the most good as directly as possible. Many big-time donors, he said, model themselves off of venture capitalism and take an extremely aggressive approach in terms of monitoring the performance of grant recipients. In her divorce from Bezos, Scott received a 4% stake in Amazon. Florida International University is receiving the same amount. MacKenzie Scott : "There are lots of resources each of us can pull from our safes to share with others. On July 28, 2020, MacKenzie Scott shocked the philanthropic community by donating USD 1.7 billion to 116 nonprofits around the world. Through a streamlined operation, Ms. Scott has given away $6 billion this year, much of it to small charities and nonprofits. 2023 Fortune Media IP Limited. Ms. Scott made a new round of grants, to 286 organizations. MacKenzie Scott seems to be nonresponsive to traditional approaches (there is no application process) and operates much more like a Donor Advised Fund (DAF). Her net worth, which Forbes estimates at $60 billion, keeps rising, thanks to Amazon stock. 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. Ms. Scott announced the names of groups that got gifts, but she didnt disclose how much each received. GRANT APPLICATION Jacksonville's Scott R. MacKenzie Foundation offers grants for genetic research. Scott also won praise from philanthropy experts for the way she donated her money: without strings attached. Calling the donations to individual organizations "relatively large," Scott described the new cash as a means to do more good work with less financial stress. The billionaire philanthropist has so far given away more than $8 billion of her fortune in three rounds of funding. 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. The development community can learn about how to fund internationally from the choices, questions, and experiences of Scott grant recipients. 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. Understanding of and ability to describe the relationship between the proposed project and other services, and service providers within the community. Please note: Mackenzie Charitable Foundation do not make grants to individuals. 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. 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. "These are people who have spent years successfully advancing humanitarian aims, often without knowing whether there will be any money in their bank . Use the applications and forms below to open new Mackenzie Investments accounts, transfer assets from other institutions and other tasks. 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. 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. 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. All rights reserved. She thought she had found her lifes calling, but says there were a lack of opportunities. Fundraising expenses or activities or staff positions related to development or fundraising. 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. Find new creative ways to help. Scott's approach to philanthropy is unusual in a number of ways. "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.". Favianna Rodriguez, who received $11 million from Scott, says Scott's giving is a redistribution of wealth. A representative for MacKenzie Scottcurrently the worlds 19th richest person with a net worth of $59 billionhad a message to deliver. A significant amount was granted to organisations focused on issues of equity, with noteworthy support to leaders of colour and those identifying as LGBTQIA+. Ms. Scott described in her Medium post how her team used hundreds of emails and phone interviews and thousands of pages of data analysis to sift through 6,490 potential gift recipients. Additionally, the National 4-H Council, an agriculturally focused youth organization, received $50 million. Conference expenses, memberships, tickets to events or informational visits by experts or recognized speakers. Free was forced to lay off employees. The MacKenzie Scott Opportunities Scholarship (S.O.S) will assist first-time, credential-seeking, young adults under age 25 attend college. She refers to a team of advisers rather than a large dedicated staff. Chef Reign Free received support to keep her catering business afloat during the pandemic due to Scott's philanthropy. 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. Feasibility studies for capital campaigns. MacKenzie Scott has unveiled a website to provide more transparency around her philanthropic efforts. She has so far given away more than $8 billion in three rounds of funding revealed in the same manner. Ms. Scott, who declined to comment, rocketed to public attention with the announcement nearly two years ago that she and Mr. Bezos were divorcing. 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. That fund will eventually disclose the groups that received money, but is not required to say who is behind each gift. The president of the University of Central Florida said his institution will receive $40 million the largest donation in the university's history. Scotts made quite the impression on the world of philanthropy as a result, even while shunning the spotlight and not talking to reporters. Change happens from the bottom up, and also the top down.. 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. While many donors want scale, few offer space to experiment and learn or to deepen community impact. 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.. The billionaire philanthropist has so far given away more than $8 billion of her fortune in three rounds of funding. MacKenzie Scott, the former wife of Amazon founder Jeff Bezos, is shown here in 2018. 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. Its really critical for any philanthropist to address the inequities of how their wealth was created, she said. 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. 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 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. Dia DipasupilGetty Images MacKenzie Scott, the reclusive billionaire who has in three. As she has before, Ms. Scott also included a literary reference, this time from the Sufi poet Rumi. There is no evident mechanism by which organizations can apply for donations. Mr. Bezos, the richest man in the world, has made big charitable commitments but not made philanthropy a top priority. Editor's note: Updated on Feb. 22, 2022 to include a donation to National 4-H Council. If you have any questions about the Foundation or our grant process, email us below for a quick response. 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. please try again later. Many of the gifts were the largest the charities had ever received. She doesnt appear to have an office or even a mailing address for her philanthropy, instead working through nonprofit firm Bridgespan. The scholarship is need based and will fund up to $2,000 per student. The University of Texas at San Antonio is also receiving $40 million, which its president called "completely transformational." 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. Editor's Note: This article was updated on February 19, 2022 to include two additional donations, to Shatterproof and Young People in Recovery. Collaboration and cooperation with other organizations. Scotts operations have been largely shrouded in secrecy: A writer who calls herself a private person, she and her team refuse all interview requests. MacKenzie Scott, the ex-wife of Amazon founder Jeff Bezos, is giving away her $46 billion fortune faster than anyone in history. Ms. Scott also gave to higher-education institutions including schools in the University of California and the University of Texas systems; organizations focused on racial justice, such as Race Forward and Borealis Philanthropy; groups focused on gender equity and combating domestic violence; and an assortment of other nonprofits including the Authors League Fund, which helps writers in financial need, and Afrika Tikkun, which works to end child poverty in South Africa. 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. "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. Bezos said in 2017 he wanted to include right now donations among his mostly long-term philanthropic efforts since the bulk of his donations went to foundations. Another education nonprofit, Leading Educators, got $10 million to provide professional development for teachers. Windfall grant can boost organizational legitimacy, organizations and donors must intentionally a... Amazon stock the crisis of the world not make grants to individuals promises! Allowed to talk about the Foundation or our grant process, email us below for a nonprofit equivalent. 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