She just doesnt seem to be tuned in to that kind of stuff at all, Mr. Callahan said. While a windfall grant can boost organizational legitimacy, organizations and donors must intentionally craft a strategic message around organizational impact and priorities. historically Black colleges and universities, community colleges. 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. MacKenzie Scott is a philanthropist, author, and ex-wife of Amazon founder Jeff Bezos, to whom she was married for 25 years. "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. 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. You may request printed copies of these forms by contacting Client Relations at 18003870614 or at service@mackenzieinvestments.com. The Scott grants provide them with breathing room, flexibility to make strategic choices, and the opportunity to focus on systems change work. To subscribe, select any of the newsletters listed below. But now Scott, who is also an author and the ex-wife of Amazon founder Jeff Bezos, has announced in . The president of the University of Central Florida said his institution will receive $40 million the largest donation in the university's history. MacKenzie Scott : "There are lots of resources each of us can pull from our safes to share with others. 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. While many donors want scale, few offer space to experiment and learn or to deepen community impact. She has this anti-elite approach to philanthropy. Dance Theater of Harlem, which received $10 million, said the gift was the largest in its history. 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. Each nonprofit it will list was selected through a rigorous process, and has a strong track record of serving under-supported needs. On July 28, 2020, MacKenzie Scott shocked the philanthropic community by donating USD 1.7 billion to 116 nonprofits around the world. 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. 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. And, unlike much philanthropic giving to institutions of higher education, the Scott money came with no strings attached. Candid gets you the information you need to do good. MacKenzie Scott, the ex-wife of Amazon founder Jeff Bezos, is giving away her $46 billion fortune faster than anyone in history. What do we think they might do with more cash on hand than they expected? Ms. McWhorter was not the only recipient who cried. Her net worth, which Forbes estimates at $60 billion, keeps rising, thanks to Amazon stock. Many of the cohort organizations experiencedrapid growth related to the grant, which in some cases was accompanied by growing pains and staff burnout. The scholarship is need based and will fund up to $2,000 per student. Some of the messages were viewed as possible scams or landed in spam filters. 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. 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. Use the applications and forms below to open new Mackenzie Investments accounts, transfer assets from other institutions and other tasks. Its really critical for any philanthropist to address the inequities of how their wealth was created, she said. Additionally, the National 4-H Council, an agriculturally focused youth organization, received $50 million. However, in a field already torn apart by competition and a scarcity mindset, this can create tensions between those that received Scott grants and others that didnt. 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. So far, MacKenzie Scott has donated almost $6 billion in gifts. 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. That fund will eventually disclose the groups that received money, but is not required to say who is behind each gift. Many only barely meet that requirement, instead hoarding their cash and giving away less than the profits they earn through investments. A social enterprise, we connect and inform 1,021,000+ development, health, humanitarian, and sustainability professionals through news, business intelligence, and funding & career opportunities so you can do more good for more people. Conference expenses, memberships, tickets to events or informational visits by experts or recognized speakers. Scott, the ex-wife of Amazon founder Jeff Bezos, made the announcement in a Medium blog post on Tuesday. Hire a few extra team members they know they can pay for the next five years. 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. 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. Another education nonprofit, Leading Educators, got $10 million to provide professional development for teachers. Understanding of and ability to describe the relationship between the proposed project and other services, and service providers within the community. Terms & Conditions. They included well-known arts groups such as the Apollo Theater and Ballet Hispnico. Get the latest nonprofit news, funding opportunities, job openings, and more delivered to your inbox with Philanthropy News Digest newsletters. It also distinguished her from her former husband, the richest man in the world. In 2020, a year of incredible need, Ms. Scott gave away nearly $6 billion to 500 organizations. 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. 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. During the Covid-19 pandemic, MacKenzie Scott accompanied three rounds of billion-dollar donations to hundreds of organizations with separate announcements elaborating on her philanthropic approach. Learn more Adolescent Learning Political candidates or organizations, fraternal organizations or veteran organizations. The organizations invested in their sustainability put the grants toward areas such as programmatic innovation, operations and infrastructure, reserves, salaries, new recruitment, and staff and leadership development. Scott's approach to philanthropy is unusual in a number of ways. In the course of a few months, Ms. Scott has turned traditional philanthropy on its head. 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. Our new weekly Impact Report newsletter examines how ESG news and trends are shaping the roles and responsibilities of todays executives. 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. 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. But the criticism of Ms. Scott has tended to be more constructive than pointed. If you are looking for a way to serve humanitys common cause, every one of them is a great candidate. Like Urrutia, Favianna Rodriguez is working to aid communities of color. FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. But the $2.74 billion. Morgan could do with it as it saw fit. 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. In a recent analysis, we looked at the characteristics of the December cohort, which totaled $4.2 billion to 384 nonprofits. For a complete list of grant recipients, see Scotts Medium post. Eligibility requirements include completion of the Free Application for Federal Student Aid (FAFSA) and a simple scholarship application. 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. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. chapters. 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. 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. Since colleges and universities began shuttering their campuses, our students have faced incredible challenges, from losing safe housing after campus closures to losing jobs and income. Fundraising expenses or activities or staff positions related to development or fundraising. "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. Two groups focusing on reproductive rights, the Guttmacher Institute and the Collaborative for Gender + Reproductive Equity, received $15 million and $25 million respectively. The billionaire philanthropist has so far given away more than $8 billion of her fortune in three rounds of funding. It is a pathbreaking approach to megaphilanthropy that seems designed to protect her tightly guarded privacy. 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! Jeff Bezos and MacKenzie Scott in 2018. You may opt-out by. These are the kinds of stories Scotts grant was able to propel, says Urrutia. MacKenzie Scott, the former wife of Amazon founder Jeff Bezos, is shown here in 2018. ", MacKenzie Scott Has Donated More Than $4 Billion In Last 4 Months. 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. Mackenzie Scott gave nearly $6 billion to charity in 2020. . 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. 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. They divorced in mid-2019 and she received 25% of his Amazon stake. 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. And something greater rises up every time we give." 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. LinkedIn has officially entered its cringe era, and its working. Grant recipients include Howard University, which announced that it received a $40 million the largest gift in the school's history from Scott, a former student of alumna Toni Morrison. Please note: Mackenzie Charitable Foundation do not make grants to individuals. In February alone, nine organizations announced gifts from Scott totaling $264.5 million. This Foundation was established in 1976 by brothers Alan and Don Mackenzie. A gift like this for a nonprofit is equivalent to a billion dollars.. A gift like this for a nonprofit is equivalent to a billion dollars, Accion chief executive Luz Urrutia told Forbes. 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. We want to invest it over decades.. Unable to update subscription. The website unveiled this week is the result. Accions Covid relief fund proved pivotal for one of their longtime customers, chef Reign Free. For the third time in less than a year, MacKenzie Scott has announced a multibillion-dollar round of grants. (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.). 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. 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. Ms. Scott has a recognition that the organizations are doing the good work and let us be the stewards of those dollars.. 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. 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. Usually you dont have very large philanthropists wandering the landscape looking to drop millions of dollars very quietly into organizations that they care about, said Adam Zimmerman, president and chief executive of Craft3, which gives loans to small businesses in Oregon and Washington and which received a $10 million gift from Ms. Scott. Scotts operations have been largely shrouded in secrecy: A writer who calls herself a private person, she and her team refuse all interview requests. 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. Her net worth, estimated at $36.1 billion in October 2019, has increased by some $23 billion since then. Florida International University is receiving the same amount. The University of Texas at San Antonio is also receiving $40 million, which its president called "completely transformational." Unable to update subscription. Her main expression of that critique is giving away so much money so quickly, and supporting so many bottom-up organizations, Mr. Callahan said. "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.". As one organization put it, "We should be building local organizations because they will be there longer than us and will have more credibility." Rodriguez found her escape through art, allowing her to express herself through screen printing, painting murals and making social justice posters. August 2023 meeting - applications close on the 28th of July 2023. Unrestricted large grants help push the global development field forward with opportunity for increased growth, sustainability, and innovation. 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. We don't have a lot of time. 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. Staff capacity, sound fiscal policy and responsible financial management. Who Can Apply for a Grant? To subscribe, select any of the newsletters listed below. MacKenzie Scott's 2020 giving outstripped the over $5 billion in grants given by the Bill and Melinda Gates Foundation in 2019. 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. From our safes to share with others 6 billion in Last 4 months project and services. Blogging website, she does not appear to speak directly to the grant, which $... 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