Candid gets you the information you need to do good. Dance Theater of Harlem, which received $10 million, said the gift was the largest in its history. 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. 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. 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. 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. "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. She does not have a foundation of her own, which would require detailed public filings and a potentially large staff. If you are looking for a way to serve humanitys common cause, every one of them is a great candidate. 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. All Rights Reserved. Anyone can read what you share. 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. MacKenzie. 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. 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. 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. 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. [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. 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. 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. 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. After calls for more transparency, in December Scott wrote that she hopes to launch a website with a searchable grants database this year. 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. She refers to a team of advisers rather than a large dedicated staff. "These are people who have spent years successfully advancing humanitarian aims, often without knowing whether there will be any money in their bank . 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. To subscribe, select any of the newsletters listed below. And something greater rises up every time we give." Among the recipients are more than 220 organizations operating globally, half of which are based outside the United States. Eventually. Ms. Scott, who declined to comment, rocketed to public attention with the announcement nearly two years ago that she and Mr. Bezos were divorcing. To subscribe, select any of the newsletters listed below. 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. August 2023 meeting - applications close on the 28th of July 2023. Editor's note: Updated on Feb. 22, 2022 to include a donation to National 4-H Council. Eligibility requirements include completion of the Free Application for Federal Student Aid (FAFSA) and a simple scholarship application. While philanthropy experts applauded Ms. Scotts generosity, the scale of her giving is prompting calls for her to be more transparent. Florida International University is receiving the same amount. 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 large, unrestricted grant can shift an organizations position providing greater visibility, more opportunities to influence the fields direction, and greater legitimacy with donors. But the Red Door had the rug pulled out from under it when Covid hit. Yet even as she disbursed her billions, Ms. Scott expressed some ambivalence about her fortune and the source of it, writing in a blog post that it would be better if disproportionate wealth were not concentrated in a small number of hands.. Get the latest nonprofit news, funding opportunities, job openings, and more delivered to your inbox with Philanthropy News Digest newsletters. Conference expenses, memberships, tickets to events or informational visits by experts or recognized speakers. But she is not using a foundation. 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. MacKenzie Scott is a philanthropist, author, and ex-wife of Amazon founder Jeff Bezos, to whom she was married for 25 years. Scotts made quite the impression on the world of philanthropy as a result, even while shunning the spotlight and not talking to reporters. The phone rang in Morgans development office. 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. We have to quantum leap., This is a BETA experience. Foundations are required by law to pay out at least 5 percent of their endowments a year. 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. Scott donated to two organizations combatting addiction: $5 million to Shatterproof and $3 million to Young People in Recovery. They included well-known arts groups such as the Apollo Theater and Ballet Hispnico. Accions Covid relief fund proved pivotal for one of their longtime customers, chef Reign Free. Free was forced to lay off employees. Morgan could do with it as it saw fit. 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. Additionally, the National 4-H Council, an agriculturally focused youth organization, received $50 million. Money was tight. 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. MacKenzie Scott promised she would give her fortune away until the safe is empty. That has proved to be harder than expected. please try again later. Among those receiving grants the average size was just under $10 million were the Alaska Native Heritage Center, Broward College in Florida and Jazz at Lincoln Center. Scott noted that all were awarded general operating support grants but did not disclose individual grant amounts. A representative for MacKenzie Scottcurrently the worlds 19th richest person with a net worth of $59 billionhad a message to deliver. 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. The wide array of gifts, and the manner in which they were announced, reflect Ms. Scotts highly unconventional approach to philanthropy. Evan Agostini/Invision/AP 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.. The news was almost too good to be true: Her group would be receiving a $9 million gift. What do we think they might do with more cash on hand than they expected? MacKenzie Scott in 2018. Her main expression of that critique is giving away so much money so quickly, and supporting so many bottom-up organizations, Mr. Callahan said. Were not looking to spend the money right away, he says. $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. A gift like this for a nonprofit is equivalent to a billion dollars, Accion chief executive Luz Urrutia told Forbes. Email to ctucker@scottrmackenziefoundation.com or mail to 2518 Park Street, Suite 2, Jacksonville, FL 32204. While a windfall grant can boost organizational legitimacy, organizations and donors must intentionally craft a strategic message around organizational impact and priorities. However, some organizations have revealed how much money they'll receive. However accessible the promised application process will make Scotts team, the woman herself isnt changing her communication strategy. David Callahan, founder of the website Inside Philanthropy, added that while Ms. Scott was clearly focused on organizations doing work on the front lines, she had so far shown little interest in the think tanks and research institutes that often shape policy in Washington and statehouses around the country. They were farmers of Ealing who wanted to leave . Instead, at least some of her donations including the gift to the Chicago Y.W.C.A. Experts on philanthropy said Ms. Scotts nearly $6 billion in gifts might be among the most ever handed out directly to charities in a single year by a living donor (as opposed to a billionaire making a huge one-time gift to a foundation to be disbursed over decades). 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. MacKenzie Scott(formerly Bezos) has announced the recipients of $1.67 billion in grants awarded since she signed theGiving Pledgefourteen months ago. 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. 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. 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. Like Urrutia, Favianna Rodriguez is working to aid communities of color. Terms & Conditions. She said she hoped to de-emphasize privileged voices and cede focus to others.. Many of the gifts were the largest the charities had ever received. 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. The National Council on Aging got $8 million, while mental health nonprofit the Jed Foundation got $15 million. She has swiftly followed through, and by 2021 had become the third most generous U.S. philanthropist on paper. But shares of the company's stock rose sharply during the pandemic, and despite giving away billions, Scott's wealth keeps growing. 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. Staff capacity, sound fiscal policy and responsible financial management. Find new creative ways to help. Go read this Bloomberg article for a detailed look at how shes done it. 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. 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. Get some sleep," Scott suggested. 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. The first email literally got stuck in my junk mail.. It is a pathbreaking approach to megaphilanthropy that seems designed to protect her tightly guarded privacy. "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 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.). The business was teetering on the brink. Ms. McWhorter was not the only recipient who cried. 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. 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. 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. Scott, the ex-wife of the world's richest person,. In the last few years, they have ramped up attention to organizational culture and health to achieve maximum organizational impact. She did make some of her personal life public this year when she announced that she had married Dan Jewett, a chemistry teacher at her childrens school. Over the past nine months, Scott has awarded grants to 465 nonprofits. ", MacKenzie Scott Has Donated More Than $4 Billion In Last 4 Months. 2023 Fortune Media IP Limited. In February alone, nine organizations announced gifts from Scott totaling $264.5 million. Her net worth, estimated at $36.1 billion in October 2019, has increased by some $23 billion since then. In the course of a few months, Ms. Scott has turned traditional philanthropy on its head. That reflects an incomplete understanding of how change happens in this country. Two groups focusing on reproductive rights, the Guttmacher Institute and the Collaborative for Gender + Reproductive Equity, received $15 million and $25 million respectively. 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. 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. She was behind the wheel when she and Mr. Bezos drove to Seattle to start an online bookstore named after a Brazilian river. (Editor's note: The amount of money transferred into Lehman College's endowment has been changed based on updated information provided by the college.) 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. 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. Our new weekly Impact Report newsletter examines how ESG news and trends are shaping the roles and responsibilities of todays executives. As a subscriber, you have 10 gift articles to give each month. Political candidates or organizations, fraternal organizations or veteran organizations. 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