As a subscriber, you have 10 gift articles to give each month. 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 just doesnt seem to be tuned in to that kind of stuff at all, Mr. Callahan said. Scott, who divorced from Amazon founder Jeff Bezos in 2019, made the announcement in a blog post on the website Medium. Like Urrutia, Favianna Rodriguez is working to aid communities of color. The money hit the street, he says. Scotts made quite the impression on the world of philanthropy as a result, even while shunning the spotlight and not talking to reporters. As she has before, Ms. Scott also included a literary reference, this time from the Sufi poet Rumi. The president of the University of Central Florida said his institution will receive $40 million the largest donation in the university's history. Shaw. 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. 2023 Fortune Media IP Limited. LinkedIn has officially entered its cringe era, and its working. All completed Initial Grant Applications must be submitted by April 30 for consideration in that year. 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. Accions Covid relief fund proved pivotal for one of their longtime customers, chef Reign Free. Additionally, the funds were used to invest in systems that would outlast the founding leaders and teams. Their service supports and empowers people who go on to support and empower others.". Staff capacity, sound fiscal policy and responsible financial management. While Scott publicly announces each round on Medium, the blogging website, she does not appear to speak directly to the nonprofits. 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 the Red Door had the rug pulled out from under it when Covid hit. 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. She does not have a foundation of her own, which would require detailed public filings and a potentially large staff. 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. 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 . They were valued at the time at $38 billion. It works on two levels!). 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. (In practical terms, shes even more impressive: Last years second-biggest donor to charity, Elon Musk, directed his $5.7 billion donation in Tesla shares to his personal foundation, reaping a tax benefit without distributing much of the money to charity, tax records show.). Among the recipients are more than 220 organizations operating globally, half of which are based outside the United States. At the time, her portion of the settlement, some 4 percent of Amazon shares, was valued at around $36 billion. If you are looking for a way to serve humanitys common cause, every one of them is a great candidate. MacKenzie. We have to accelerate. It is with gratitude and irrepressible smiles that the sisterhood of Urgent Action Funds announces our collective receipt of MacKenzie Scott's generous, transformative, and indeed "human and soft" gift of $20 million.. All the words we could possibly use would be an understatement of the impact that this gift will have on the Urgent Action Funds. To subscribe, select any of the newsletters listed below. 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. The development community can learn about how to fund internationally from the choices, questions, and experiences of Scott grant recipients. 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. 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. "Bezos' support comes at a critical moment as we broaden and deepen our efforts to support LGBTQ students who are Black, Indigenous, and people of color and LGBTQ students who are grappling with the COVID-19 pandemic. Her net worth, which Forbes estimates at $60 billion, keeps rising, thanks to Amazon stock. 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. We invite you to join us. 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. But shares of the company's stock rose sharply during the pandemic, and despite giving away billions, Scott's wealth keeps growing. Collaboration and cooperation with other organizations. 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. And although Ms. Scott offered a list of nearly 400 organizations, she could well have given gifts to other groups. 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. 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 . 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. An infusion of $15 million from Scottthe largest single donation in Accions 27 year historywas immediately put to work in a Covid relief fund. 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. 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. Scott says that she and her organization spent the first quarter of 2021 identifying and researching equity-oriented nonprofit organizations working in neglected and underfunded areas. This is why Panorama Globallaunched the Collaborative Learning from Impact Philanthropy, CLIP, initiative, which includes several peer learning cohorts designed for Scott grant recipients at their request. 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. Scott donated to two organizations combatting addiction: $5 million to Shatterproof and $3 million to Young People in Recovery. historically Black colleges and universities, community colleges. Power deserves scrutiny.. 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. 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. 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. 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. 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.. 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. It is a pathbreaking approach to megaphilanthropy that seems designed to protect her tightly guarded privacy. She doesn't appear to have a website. MacKenzie Scott promised she would give her fortune away until the safe is empty. That has proved to be harder than expected. Some of the messages were viewed as possible scams or landed in spam filters. For the third time in less than a year, MacKenzie Scott has announced a multibillion-dollar round of grants. MacKenzie Scott in 2018. In the last few years, they have ramped up attention to organizational culture and health to achieve maximum organizational impact. MacKenzie Scott, the former wife of Amazon founder Jeff Bezos, is shown here in 2018. Please do not submit any medical/patient information or other private information through this form. 5 min read. Scott also won praise from philanthropy experts for the way she donated her money: without strings attached. Scott prefers simply to announce via blog post the organizations she has chosen for her next multibillion-dollar giveaway. This highlights the need to give organizations the freedom to build muscle for resilience, as they see fit. Like her previous public letters, Ms. Scotts latest blog post was a personal reflection on privilege, need and responsibility. 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. Scott is now married to Seattle teacher Dan Jewett. Her fortune comes from shares of Amazon that she got after her divorce last year from Jeff Bezos, the companys founder. 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