That reflects an incomplete understanding of how change happens in this country. 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. Buy chairs for them. As part of their split, she received 4 percent of the outstanding shares of Amazon. Sign up for Verge Deals to get deals on products we've tested sent to your inbox daily. For the third time in less than a year, MacKenzie Scott has announced a multibillion-dollar round of grants. A gift like this for a nonprofit is equivalent to a billion dollars, Accion chief executive Luz Urrutia told Forbes. In February alone, nine organizations announced gifts from Scott totaling $264.5 million. Florida International University is receiving the same amount. Scotts gifts come in the form of unrestricted grants, meaning that nonprofits can spend the money however they want rather than on particular programs. 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. 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. Two groups focusing on reproductive rights, the Guttmacher Institute and the Collaborative for Gender + Reproductive Equity, received $15 million and $25 million respectively. MacKenzie Scott(formerly Bezos) has announced the recipients of $1.67 billion in grants awarded since she signed theGiving Pledgefourteen months ago. 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. Weve looked at the impact of these grants with the ambition to share lessons with other windfall gift recipients and to inspire other funders on how to localize, decentralize, and shift power from elite corridors of development aid to the community level. Less than two months into 2022, Scott isn't showing any signs of . / Sign up for Verge Deals to get deals on products we've tested sent to your inbox daily. 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. 2023 Vox Media, LLC. Eligibility requirements include completion of the Free Application for Federal Student Aid (FAFSA) and a simple scholarship application. The website unveiled this week is the result. BEGIN THE APPLICATION PROCESS. 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.. Ms. Scott has moved away from the heavy hand of the philanthropy in steering the direction of social change, said Benjamin Soskis, a senior research associate in the Center on Nonprofits and Philanthropy at the Urban Institute. To subscribe, select any of the newsletters listed below. 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." It works on two levels!). As she has before, Ms. Scott also included a literary reference, this time from the Sufi poet Rumi. 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. 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. [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. The Scott R. MacKenzie Foundation grants funding for genome research in order to advance cures. By Invitation Only. When I got off the phone I had to collect myself, says Morgan President David Wilson. 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. 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 . 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. As a subscriber, you have 10 gift articles to give each month. 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. 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. 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. 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. Get the latest nonprofit news, funding opportunities, job openings, and more delivered to your inbox with Philanthropy News Digest newsletters. 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. Accions Covid relief fund proved pivotal for one of their longtime customers, chef Reign Free. There is no evident mechanism by which organizations can apply for donations. Scott's approach to philanthropy is unusual in a number of ways. 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.. 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 . Forbes takes the position that people with billions of dollars at their disposal warrant more scrutiny than average Americans because of the power that money wields. Email to [email protected] or mail to 2518 Park Street, Suite 2, Jacksonville, FL 32204. The largest donation, $133.5 million, went to Communities in Schools, a non-profit that helps keep at-risk children in schools. The MacKenzie Scott Opportunities Scholarship (S.O.S) will assist first-time, credential-seeking, young adults under age 25 attend college. (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.). 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. MacKenzie Scott An umbrella organization for more than 120 women's funds and foundations is among the recipients of the latest $2.7 billion round of grants from McKenzie Scott. MacKenzie Scott : "There are lots of resources each of us can pull from our safes to share with others. Two previous Accion loans allowed Free to expand her Oakland, California catering business, The Red Door, from a couple of employees and a van in 2011 to dozens of employees and a 5,000 square foot kitchen before the pandemic. Because we believe that teams with experience on the front lines of challenges will know best how to put the money to good use, we encouraged them to spend it however they choose, she said. Morgan State University, a historically Black public college in Baltimore that traces its roots to the year 1867, has always struggled financially. Ms. Scott has not given a media interview recently, and maintains a close circle of friends and advisers. Their service supports and empowers people who go on to support and empower others.". | Chattanooga Web Design by Strafire. Similar scenes were playing out at charities nationwide. 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. Scott, who divorced from Amazon founder Jeff Bezos in 2019, made the announcement in a blog post on the website Medium. 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. The money hit the street, he says. Who Can Apply for a Grant? 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. 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. 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.. "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. 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. And though in many ways Ms. Scott is upending how philanthropy has worked in recent decades, she also invested in several mainstays of the existing philanthropic community. The recipients span from institutions of higher education and arts and culture, to organizations fighting poverty, working on interfaith issues and building community engagement. An infusion of $15 million from Scottthe largest single donation in Accions 27 year historywas immediately put to work in a Covid relief fund. 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. 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. Editor's note: Updated on Feb. 15, 2022 to include a donation to Leading Educators. Please do not submit any medical/patient information or other private information through this form. 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. Among the recipients are more than 220 organizations operating globally, half of which are based outside the United States. Over the past nine months, Scott has awarded grants to 465 nonprofits. Ms. Scotts disbursement of $6 billion in about five months only accentuated the stodgy pace of her peers. Notably, Scott didnt publicly announce these donations herself, as she has done in the past. The unrestricted grants offered organizations space to learn and experiment lessons that can be shared to uplift an entire field. She thought she had found her lifes calling, but says there were a lack of opportunities. 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. hide caption. 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. ", "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. MacKenzie Scott, the ex-wife of Amazon founder Jeff Bezos, is giving away her $46 billion fortune faster than anyone in history. Anyone can read what you share. The phone rang in Morgans development office. Though her net worth now exceeds the value of the endowment of the Bill and Melinda Gates Foundation, the largest charity in the world, Ms. Scott has shown no interest in developing that kind of formal structure around her giving. But the criticism of Ms. Scott has tended to be more constructive than pointed. So far, MacKenzie Scott has donated almost $6 billion in gifts. While many donors want scale, few offer space to experiment and learn or to deepen community impact. 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. They were valued at the time at $38 billion. Scott is now married to Seattle teacher Dan Jewett. 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. Instead, at least some of her donations including the gift to the Chicago Y.W.C.A. And even fewer support organizations to restructure and shift control closer to the communities they support. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. It is a pathbreaking approach to megaphilanthropy that seems designed to protect her tightly guarded privacy. And rather than a few targeted donations, she gave broadly to hundreds of groups. But the Red Door had the rug pulled out from under it when Covid hit. The Scott grants provide them with breathing room, flexibility to make strategic choices, and the opportunity to focus on systems change work. 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. 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. 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. Find new creative ways to help. Yield Givings website includes a page devoted to Scotts process, describing the quiet research and evaluations her team has relied upon to pick recipients. Helping any of us can help us all.. These are the kinds of stories Scotts grant was able to propel, says Urrutia. She was behind the wheel when she and Mr. Bezos drove to Seattle to start an online bookstore named after a Brazilian river. The billionaire philanthropist has so far given away more than $8 billion of her fortune in three rounds of funding. Its no secret MacKenzie Scott has committed some stunning acts of philanthropy of late. Scott prefers simply to announce via blog post the organizations she has chosen for her next multibillion-dollar giveaway. On a Monday evening in November, Dorri McWhorter, the chief executive of the Y.W.C.A. MacKenzie Scott, the ex-wife of Amazon founder Jeff Bezos, is giving away her $46 billion fortune faster than anyone in history. Shaw. She had three children from her former marriage and they adopted one girl from China. Understanding of and ability to describe the relationship between the proposed project and other services, and service providers within the community. Go read this Bloomberg article for a detailed look at how shes done it. Where Scott grant recipients chose to spend their unrestricted grants offers clues about the areas of global development that have historically been underfunded. The president of the University of Central Florida said his institution will receive $40 million the largest donation in the university's history. 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. Ms. Scott has a recognition that the organizations are doing the good work and let us be the stewards of those dollars.. But the $2.74 billion in gifts, announced just six months after that windfall, firmly establishes her as the most generous and influential philanthropist working today. Stop having to work every weekend. A child's future is profoundly influenced by how they learn and develop in their earliest years. Her net worth, estimated at $36.1 billion in October 2019, has increased by some $23 billion since then. 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. The Foundation is a nonprofit, tax-exempt charitable organization . 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. If you are looking for a way to serve humanitys common cause, every one of them is a great candidate. November 2023 meeting - applications close on the 27th of October 2023. It's not only a significant moment for myself, but it's a moment for BIPOC-led and BIPOC-serving art institutions at a time when we have been devastated by the pandemic, she says. They were farmers of Ealing who wanted to leave . 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. 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. 26 Feb Feb In her latest round of donations, Ms. Scott did not list the amount she gave each organization, but her blog post included a list of those receiving funds. Ms. Scotts team recently sent out hundreds of out-of-the-blue emails to charities, notifying them of an incoming gift. While Scott publicly announces each round on Medium, the blogging website, she does not appear to speak directly to the nonprofits. Favianna Rodriguez, who received $11 million from Scott, says Scott's giving is a redistribution of wealth. Instead, they say, big donations come with the understanding that the money be used for specific purposes and programs. 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. 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. And although Ms. Scott offered a list of nearly 400 organizations, she could well have given gifts to other groups. Subscribe here. 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. She refers to a team of advisers rather than a large dedicated staff. Billionaire philanthropist MacKenzie Scott has donated almost $2 billion to more than 300 organizations in the last seven months, she said in a Medium post Monday. 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. All completed Initial Grant Applications must be submitted by April 30 for consideration in that year. 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. If you want to have a leading voice in addressing inequality, you have to address Amazons profit maximization in the private sector.. 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. Get some sleep," Scott suggested. Mr. Bezos has made some big charitable commitments but has not made philanthropy a top priority. Eventually. After deeper research into 822 of them, she and her advisers selected 384 groups to receive nearly $4.2 billion in funds. 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. 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. Her latest round on June 15 was $2.7 billion distributed to 286 groups. 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! Some interactive form features may not be fully supported when using Google Chrome. Ms. Scott is under no obligation to publicly disclose anything about her giving. Powered and implemented by Interactive Data Managed Solutions. Power deserves scrutiny.. 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. Unable to update subscription. Less than two months into 2022, Scott isnt showing any signs of slowing down. MacKenzie Scott seems to be nonresponsive to traditional approaches (there is no application process) and operates much more like a Donor Advised Fund (DAF). 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. 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. 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. 2023 Fortune Media IP Limited. 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. Another education nonprofit, Leading Educators, got $10 million to provide professional development for teachers. 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. 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. On July 28, 2020, MacKenzie Scott shocked the philanthropic community by donating USD 1.7 billion to 116 nonprofits around the world. 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 article also notes that Bezos and Scott tend to differ in how they donate their money. Collaboration and cooperation with other organizations. Metropolitan Chicago. 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. Editor's note: Updated on Feb. 22, 2022 to include a donation to National 4-H Council. 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. Scott's post lists all the recipients but doesn't state the amount of money they've been granted. Scott noted that all were awarded general operating support grants but did not disclose individual grant amounts. 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. They included well-known arts groups such as the Apollo Theater and Ballet Hispnico. As she reached adulthood, Rodriguez says she realized that all parts of the creative industryHollywood, museums, dance, televisionwere run by white men holding all the power and financing. 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. Scotts July 2020 giving could not have come at a better time for Accion Opportunity Fund, a small business loan provider in California focusing on women and Black-owned businesses. Scott donated to two organizations combatting addiction: $5 million to Shatterproof and $3 million to Young People in Recovery. In her divorce from Bezos, Scott received a 4% stake in Amazon. Philanthropist MacKenzie Scott has donated more than $2.7 billion to hundreds of charities and organizations. Like her previous public letters, Ms. Scotts latest blog post was a personal reflection on privilege, need and responsibility. 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