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. The president of the University of Central Florida said his institution will receive $40 million the largest donation in the university's history. An infusion of $15 million from Scottthe largest single donation in Accions 27 year historywas immediately put to work in a Covid relief fund. Chef Reign Free received support to keep her catering business afloat during the pandemic due to Scott's philanthropy. Learn more Adolescent Learning Editor's Note: This article was updated on February 19, 2022 to include two additional donations, to Shatterproof and Young People in Recovery. Scott also saw her life inspire a comedy series on AppleTV+, Loot, in which Maya Rudolph plays a fictionalized billionaire divorcing her tech-founder husband and figuring out how to give away the fortune she takes from the marriage. The Scott grants provide them with breathing room, flexibility to make strategic choices, and the opportunity to focus on systems change work. 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. 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. 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. 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. Powered and implemented by Interactive Data Managed Solutions. Go read this Bloomberg article for a detailed look at how shes done it. A representative for MacKenzie Scottcurrently the worlds 19th richest person with a net worth of $59 billionhad a message to deliver. In her divorce from Bezos, Scott received a 4% stake in Amazon. Corporate events, the companys bread and butter, dried up overnight. MacKenzie Scott, the former wife of Amazon founder Jeff Bezos, is shown here in 2018. As she has before, Ms. Scott also included a literary reference, this time from the Sufi poet Rumi. Ms. Scotts disbursement of $6 billion in about five months only accentuated the stodgy pace of her peers. Buy chairs for them. The Scott R. MacKenzie Foundation funds leading-edge human genetic research to advance cures for cancer, lung disease, diabetes and heart disease. So she applied to art school, only to be rejected. 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. A significant amount was granted to organisations focused on issues of equity, with noteworthy support to leaders of colour and those identifying as LGBTQIA+. 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. Its no secret MacKenzie Scott has committed some stunning acts of philanthropy of late. Since Ms. Scott does not have a foundation, at least some of her contributions are made through a donor-advised fund, a controversial vehicle that facilitates some charitable donations. 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. Ms. Scott has not given a media interview recently, and maintains a close circle of friends and advisers. A representative for MacKenzie Scott currently the world's 19th richest person with a net worth of $59 billionhad a message to deliver. MacKenzie Scott promised she would give her fortune away until the safe is empty. That has proved to be harder than expected. Whereas multibillion foundations like Bloomberg Philanthropies and the Bill and Melinda Gates Foundation have fancy headquarters, Ms. Scotts operation has no known address or even website. However accessible the promised application process will make Scotts team, the woman herself isnt changing her communication strategy. 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. Instead, they say, big donations come with the understanding that the money be used for specific purposes and programs. Get some sleep," Scott suggested. After calls for more transparency, in December Scott wrote that she hopes to launch a website with a searchable grants database this year. November 2023 meeting - applications close on the 27th of October 2023. Eventually. The news was almost too good to be true: Her group would be receiving a $9 million gift. Florida International University is receiving the same amount. 2023 Fortune Media IP Limited. Scott, who divorced from Amazon founder Jeff Bezos in 2019, made the announcement in a blog post on the website Medium. Each nonprofit it will list was selected through a rigorous process, and has a strong track record of serving under-supported needs. 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. Get the latest nonprofit news, funding opportunities, job openings, and more delivered to your inbox with Philanthropy News Digest newsletters. [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. $15M MacKenzie Scott grant helps vision sector out of a blind spot, As MacKenzie Scott donates $3.9B, one grantee expresses ambivalence, Global nonprofits among grantees in MacKenzie Scott's $2.7B donation. Some interactive form features may not be fully supported when using Google Chrome. Get the latest nonprofit news, funding opportunities, job openings, and more delivered to your inbox with Philanthropy News Digest newsletters. 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. In a break from the way many foundations operate, Ms. Scott said her gifts were not earmarked for specific programs. The recipients span from institutions of higher education and arts and culture, to organizations fighting poverty, working on interfaith issues and building community engagement. The billionaire philanthropist has so far given away more than $8 billion of her fortune in three rounds of funding. Additionally, the National 4-H Council, an agriculturally focused youth organization, received $50 million. 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. They were valued at the time at $38 billion. 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. "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. Exceptions may be made for religious organizations who can demonstrate bona fide occupational qualifications based on religious belief for employment and volunteer participation. But the criticism of Ms. Scott has tended to be more constructive than pointed. "These are people who have spent years successfully advancing humanitarian aims, often without knowing whether there will be any money in their bank accounts in two months. Me, Dan, a constellation of researchers and administrators and advisors we are all attempting to give away a fortune that was enabled by systems in need of change, she wrote. ", MacKenzie Scott Has Donated More Than $4 Billion In Last 4 Months. This highlights the need to give organizations the freedom to build muscle for resilience, as they see fit. Accions Covid relief fund proved pivotal for one of their longtime customers, chef Reign Free. 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. The scholarship is need based and will fund up to $2,000 per student. It also distinguished her from her former husband, the richest man in the world. MacKenzie Scott seems to be nonresponsive to traditional approaches (there is no application process) and operates much more like a Donor Advised Fund (DAF). 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. In 2020, a year of incredible need, Ms. Scott gave away nearly $6 billion to 500 organizations. A child's future is profoundly influenced by how they learn and develop in their earliest years. Ms. Scott announced the names of groups that got gifts, but she didnt disclose how much each received. As one organization put it, "We should be building local organizations because they will be there longer than us and will have more credibility." 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. Her main expression of that critique is giving away so much money so quickly, and supporting so many bottom-up organizations, Mr. Callahan said. 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. She doesnt appear to have an office or even a mailing address for her philanthropy, instead working through nonprofit firm Bridgespan. 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. Editor's note: Updated on Feb. 15, 2022 to include a donation to Leading Educators. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. For example, at national organizations with many affiliates across the country, she has funded some affiliates but not otherswithout asking those nonprofits for inputoccasionally creating internal difficulties and confusion for her recipients. I was quite emotional. "These are people who have spent years successfully advancing humanitarian aims, often without knowing whether there will be any money in their bank . chapters. Her latest round on June 15 was $2.7 billion distributed to 286 groups. She has swiftly followed through, and by 2021 had become the third most generous U.S. philanthropist on paper. The university said Scott and Jewett "were drawn to UTSA because of the university's strong commitment to create pathways to success for students from communities with significant educational attainment and income disparities" as well is its commitment to serving Latino students. On a Monday evening in November, Dorri McWhorter, the chief executive of the Y.W.C.A. Her fortune comes from shares of Amazon that she got after her divorce last year from Jeff Bezos, the companys founder. Evan Agostini/Invision/AP She seems to have a handle on how to do the most good as directly as possible. Like her previous public letters, Ms. Scotts latest blog post was a personal reflection on privilege, need and responsibility. 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. 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. Scott's post lists all the recipients but doesn't state the amount of money they've been granted. She does not have a foundation of her own, which would require detailed public filings and a potentially large staff. 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. 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. Favianna Rodriguez, who received $11 million from Scott, says Scott's giving is a redistribution of wealth. This shift in the locus of decision-making is critical. Staff capacity, sound fiscal policy and responsible financial management. Morgan State University, a historically Black public college in Baltimore that traces its roots to the year 1867, has always struggled financially. 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. Find new creative ways to help. LinkedIn has officially entered its cringe era, and its working. 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. All completed Initial Grant Applications must be submitted by April 30 for consideration in that year. 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. 5 min read. The article also notes that Bezos and Scott tend to differ in how they donate their money. PAST COVERAGE: San Jacinto College anonymous donor gives free tuition to 2021 high school grads. So far, MacKenzie Scott has donated almost $6 billion in gifts. Her net worth is estimated to be nearly $60 billion. 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. Like Urrutia, Favianna Rodriguez is working to aid communities of color. Recognizes the positive impact of diversity to improve lives in our community. 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. However, some organizations have revealed how much money they'll receive. Who Can Apply for a Grant? 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. 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. Jeff Bezos and MacKenzie Scott in 2018. A gift like this for a nonprofit is equivalent to a billion dollars, Accion chief executive Luz Urrutia told Forbes. Scott is now married to Seattle teacher Dan Jewett. were made through a Fidelity donor-advised fund. Accions Covid relief fund provided support to The Red Door, helping Free to pivot her business model. Were not looking to spend the money right away, he says. All Rights Reserved, By submitting your email, you agree to our. It works on two levels!). But the Red Door had the rug pulled out from under it when Covid hit. 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. You may request printed copies of these forms by contacting Client Relations at 18003870614 or at service@mackenzieinvestments.com. As gestures of transparency, she released lists of recipient organizations in July and in December. Morgan could do with it as it saw fit. Candid gets you the information you need to do good. If Ms. Scott was making her donations through a foundation, she would be required to publicly disclose the amounts and recipients of all gifts. On July 28, 2020, MacKenzie Scott shocked the philanthropic community by donating USD 1.7 billion to 116 nonprofits around the world. hide caption. While many donors want scale, few offer space to experiment and learn or to deepen community impact. Scotts gifts come in the form of unrestricted grants, meaning that nonprofits can spend the money however they want rather than on particular programs. MacKenzie Scott's 2020 giving outstripped the over $5 billion in grants given by the Bill and Melinda Gates Foundation in 2019. FORTUNE may receive compensation for some links to products and services on this website. Morgan State is one of about 780 organizations to receive part of the $8.5 billion given away by Scott in three rounds since July 2020. 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. MacKenzie. 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. Ms. Scott has a recognition that the organizations are doing the good work and let us be the stewards of those dollars.. For a complete list of grant recipients, see Scotts Medium post. To subscribe, select any of the newsletters listed below. The Foundation is a nonprofit, tax-exempt charitable organization . Gloria C. MacKenzie Foundation Seeks Grantees If your organization is interested in applying for a grant, we invite you to proceed with our grant application process. Our new weekly Impact Report newsletter examines how ESG news and trends are shaping the roles and responsibilities of todays executives. However long it takes to become reality, the promised application process marks an intriguing strategy shift for Scottand an apparent response to some of the criticisms she has faced. 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. 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. Stop having to work every weekend. Mr. Bezos, the richest man in the world, has made big charitable commitments but not made philanthropy a top priority. Scott, the ex-wife of Amazon founder Jeff Bezos, made the announcement in a Medium blog post on Tuesday. 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. I even shed a tear. Wilson says he plans to add 95% of Scotts donation to Morgans $100 million endowment, which will help fund scholarships, academic research and innovative new programs including work on health equity and intergenerational mobility. In the last few years, they have ramped up attention to organizational culture and health to achieve maximum organizational impact. 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. "Though we still have a lot to learn about how to act on these beliefs without contradicting and subverting them, we can begin by acknowledging that people working to build power from within communities are the agents of change. Scott also won praise from philanthropy experts for the way she donated her money: without strings attached. 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. 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. Scotts windfall grants have few or no strings attached and center on race, gender, equity, and localized decision-making. The phone rang in Morgans development office. That changed in December 2020. 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. 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