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. A base of community and financial support. The business was teetering on the brink. She has so far given away more than $8 billion in three rounds of funding revealed in the same manner. Rodriguez is already putting the funds to work: $8 million will be redistributed, she says, to support artists of color in the groups network. 2023 Fortune Media IP Limited. Two groups focusing on reproductive rights, the Guttmacher Institute and the Collaborative for Gender + Reproductive Equity, received $15 million and $25 million respectively. 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. MacKenzie Scott's 2020 giving outstripped the over $5 billion in grants given by the Bill and Melinda Gates Foundation in 2019. They included well-known arts groups such as the Apollo Theater and Ballet Hispnico. 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.. We're looking at the crisis of the epidemic, the economic crisis, the climate crisis, and this moment of racial reckoning. 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. 26 Feb Feb While Scott's participation in funder collaboratives and initiatives such asBlue Meridian Partnersand theEquality Can't Wait Challengehas been noted previously, she had not announced details of her giving. But the moment Rodriguez was waiting for came two weeks ago, when Scott donated $11 million to the group. 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. Her Oakland neighborhood was beset by pollution and gang violence. The National Council on Aging got $8 million, while mental health nonprofit the Jed Foundation got $15 million. Scott is now married to Seattle teacher Dan Jewett. Subscribe here. 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. 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. Today, they are worth about $62 billion, although its unclear how many of the shares Ms. Scott still holds. 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. But now Scott, who is also an author and the ex-wife of Amazon founder Jeff Bezos, has announced in . 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. 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. Unable to update subscription. 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. 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. Her fortune comes from shares of Amazon that she got after her divorce last year from Jeff Bezos, the companys founder. 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. PAST COVERAGE: San Jacinto College anonymous donor gives free tuition to 2021 high school grads. "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. were made through a Fidelity donor-advised fund. I was quite emotional. 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. Scotts operations have been largely shrouded in secrecy: A writer who calls herself a private person, she and her team refuse all interview requests. 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. The news was almost too good to be true: Her group would be receiving a $9 million gift. Jewett joined Scott in signing the Giving Pledge, a commitment by wealthy individuals to give away a majority of their money. Many only barely meet that requirement, instead hoarding their cash and giving away less than the profits they earn through investments. They were farmers of Ealing who wanted to leave . A gift like this for a nonprofit is equivalent to a billion dollars.. The scholarship is need based and will fund up to $2,000 per student. Dia DipasupilGetty Images MacKenzie Scott, the reclusive billionaire who has in three. To subscribe, select any of the newsletters listed below. A gift like this for a nonprofit is equivalent to a billion dollars, Accion chief executive Luz Urrutia told Forbes. If you are looking for a way to serve humanitys common cause, every one of them is a great candidate. 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. Now, for the third time in under a year, Ms. Scott has announced a new round of grants, worth a combined $2.74 billion, demonstrating that her dedication to rapidly disbursing her fortune has not abated. 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. Ms. Scott, who declined to comment, rocketed to public attention with the announcement nearly two years ago that she and Mr. Bezos were divorcing. 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. Many donors of large amounts have specific instructions for how they want charities to use their funds. 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. Less than two months into 2022, Scott isn't showing any signs of . There is no evident mechanism by which organizations can apply for donations. Anyone can read what you share. FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. 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. 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. hide caption. BEGIN THE APPLICATION PROCESS. 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. (I'm still chuckling at the image for the year 2014 when the Bezoses donated a total of $2.25 million to fund clinical food allergy . 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. Understanding of and ability to describe the relationship between the proposed project and other services, and service providers within the community. 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. 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. In a break from the way many foundations operate, Ms. Scott said her gifts were not earmarked for specific programs. 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. It also distinguished her from her former husband, the richest man in the world. Her work focuses on supporting social entrepreneurs and social change leaders to implement their work through fiscal sponsorship and other partnership models, and co-leading efforts to deepen learning and knowledge sharing across the nonprofit and philanthropic sectors. 2023 Vox Media, LLC. (Editor's note: The amount of money transferred into Lehman College's endowment has been changed based on updated information provided by the college.) Morgan could do with it as it saw fit. The billionaire philanthropist has so far given away more than $8 billion of her fortune in three rounds of funding. They were valued at the time at $38 billion. 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. Scott, the ex-wife of Amazon founder Jeff Bezos, made the announcement in a Medium blog post on Tuesday. 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. Offers may be subject to change without notice. Were not looking to spend the money right away, he says. In the last few years, they have ramped up attention to organizational culture and health to achieve maximum organizational impact. These organizations work in agriculture, civic engagement, community-led development, access to education and health, gender equity, legal empowerment, and poverty alleviation. After deeper research into 822 of them, she and her advisers selected 384 groups to receive nearly $4.2 billion in funds. She seems to have a handle on how to do the most good as directly as possible. 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. 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. Dance Theater of Harlem, which received $10 million, said the gift was the largest in its history. The website dropped at the end of a year in which Scott became more famous than ever, despite her shying from the spotlight, and not always for her donations. MacKenzie. 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. Ms. Scotts team recently sent out hundreds of out-of-the-blue emails to charities, notifying them of an incoming gift. The money hit the street, he says. 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. On July 28, 2020, MacKenzie Scott shocked the philanthropic community by donating USD 1.7 billion to 116 nonprofits around the world. The Scott R. MacKenzie Foundation grants funding for genome research in order to advance cures. Where Scott grant recipients chose to spend their unrestricted grants offers clues about the areas of global development that have historically been underfunded. Notably, Scott didnt publicly announce these donations herself, as she has done in the past. You may request printed copies of these forms by contacting Client Relations at 18003870614 or at service@mackenzieinvestments.com. At the time, her portion of the settlement, some 4 percent of Amazon shares, was valued at around $36 billion. 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. chapters. 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. Her latest round on June 15 was $2.7 billion distributed to 286 groups. 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. The surprising part was the unrestricted . Large global development organizations adopted remote and distributed approaches to staffing long before the pandemic. 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. She has this anti-elite approach to philanthropy. 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