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. Many of the gifts were the largest the charities had ever received. To subscribe, select any of the newsletters listed below. please try again later. Her net worth is estimated to be nearly $60 billion. We don't have a lot of time. Her net worth, which Forbes estimates at $60 billion, keeps rising, thanks to Amazon stock. | Chattanooga Web Design by Strafire. Accions Covid relief fund provided support to The Red Door, helping Free to pivot her business model. The website unveiled this week is the result. 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. Political candidates or organizations, fraternal organizations or veteran organizations. Ms. Scott announced the names of groups that got gifts, but she didnt disclose how much each received. 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. But the criticism of Ms. Scott has tended to be more constructive than pointed. Ms. Scott, who declined to comment, rocketed to public attention with the announcement nearly two years ago that she and Mr. Bezos were divorcing. Dance Theater of Harlem, which received $10 million, said the gift was the largest in its history. She gave surprise gifts totaling $410 million to historically Black colleges and universities in December 2020 alone, adding to the nearly $6 billion she gave away last year. These organizations work in agriculture, civic engagement, community-led development, access to education and health, gender equity, legal empowerment, and poverty alleviation. GRANT APPLICATION Jacksonville's Scott R. MacKenzie Foundation offers grants for genetic research. "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.". Scott, who divorced from Amazon founder Jeff Bezos in 2019, made the announcement in a blog post on the website Medium. 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Since divorcing Bezos in 2019, the 51-year-old Scott has emerged as one of the most secretive and prolific philanthropists in the world. As a subscriber, you have 10 gift articles to give each month. 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. Offers may be subject to change without notice. Dia DipasupilGetty Images MacKenzie Scott, the reclusive billionaire who has in three. Candid gets you the information you need to do good. The Scott grants provide them with breathing room, flexibility to make strategic choices, and the opportunity to focus on systems change work. It works on two levels!). Even as the philanthropic funding discourse is gradually shifting toward localized and decentralized decision-making, funding practice hasnt kept up. All rights reserved. Scott also won praise from philanthropy experts for the way she donated her money: without strings attached. 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. Ms. Scott made a new round of grants, to 286 organizations. The article also notes that Bezos and Scott tend to differ in how they donate their money. 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 totaling more than $14 billion since 2020. That reflects an incomplete understanding of how change happens in this country. She just doesnt seem to be tuned in to that kind of stuff at all, Mr. Callahan said. Were not looking to spend the money right away, he says. Ms. Scott is working on her giving with the Bridgespan Group, a nonprofit organization in Boston that advises charities and philanthropies, including those set up by Mr. Gates and Michael Bloomberg, as well as the Ford and Rockefeller foundations. Long Beach City College, in California, thanked Scott for $30 million also the single largest donation in its history. 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. 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. Money was tight. 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. 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. Collaboration and cooperation with other organizations. 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. 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. Understanding of and ability to describe the relationship between the proposed project and other services, and service providers within the community. 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. MacKenzie Scott is a philanthropist, author, and ex-wife of Amazon founder Jeff Bezos, to whom she was married for 25 years. Once a saver, always a saver: Warren Buffett says generational wealth isnt what it used to be in his annual letter Its bigger than the housing crisis: An influential economist just blamed NIMBYs for American decline, and Elon Musk CA Notice at Collection and Privacy Notice, Do Not Sell/Share My Personal Information. hide caption. (Editor's note: The amount of money transferred into Lehman College's endowment has been changed based on updated information provided by the college.) But the $2.74 billion. Less than two months into 2022, Scott isn't showing any signs of . Additionally, the funds were used to invest in systems that would outlast the founding leaders and teams. 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. As you probably know, DAFs are not public entities so there's no application process, unless the donor decides to make the process public, which Ms. Scott has not chosen to do. 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. 26 Feb Feb Please Note: We are NOT MacKenzie Scott or Dan Jewett. As she has before, Ms. Scott also included a literary reference, this time from the Sufi poet Rumi. Please note: Mackenzie Charitable Foundation do not make grants to individuals. 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. Metropolitan Chicago. Jeff Bezos and MacKenzie Scott in 2018. chapters. 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. All Rights Reserved, By submitting your email, you agree to our. To address this, cohort members used their Scott grant to elevate their entire fields, by prioritizing collaborations with peers and strengthening capacities among their communities. Chef Reign Free received support to keep her catering business afloat during the pandemic due to Scott's philanthropy. Philanthropist MacKenzie Scott has donated more than $2.7 billion to hundreds of charities and organizations. While many donors want scale, few offer space to experiment and learn or to deepen community impact. MacKenzie Scott in 2018. (Im still chuckling at the image for the year 2014 when the Bezoses donated a total of $2.25 million to fund clinical food allergy research at Stanford University: a photo of peanuts. She does not have a foundation of her own, which would require detailed public filings and a potentially large staff. 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. Buy chairs for them. This shift in the locus of decision-making is critical. MacKenzie Scott's 2020 giving outstripped the over $5 billion in grants given by the Bill and Melinda Gates Foundation in 2019. She was behind the wheel when she and Mr. Bezos drove to Seattle to start an online bookstore named after a Brazilian river. Evan Agostini/Invision/AP These are the kinds of stories Scotts grant was able to propel, says Urrutia. The first email literally got stuck in my junk mail.. Their service supports and empowers people who go on to support and empower others.". If you are looking for a way to serve humanitys common cause, every one of them is a great candidate. Her fortune comes from shares of Amazon that she got after her divorce last year from Jeff Bezos, the companys founder. Get some sleep," Scott suggested. Rodriguez found her escape through art, allowing her to express herself through screen printing, painting murals and making social justice posters. Philanthropist MacKenzie Scott has announced details of the more than $3.86 billion in gifts she has awarded since June of 2021. PAST COVERAGE: San Jacinto College anonymous donor gives free tuition to 2021 high school grads. A child's future is profoundly influenced by how they learn and develop in their earliest years. A significant amount was granted to organisations focused on issues of equity, with noteworthy support to leaders of colour and those identifying as LGBTQIA+. You may request printed copies of these forms by contacting Client Relations at 18003870614 or at service@mackenzieinvestments.com. Feel free to contact us anytime. Its really critical for any philanthropist to address the inequities of how their wealth was created, she said. The MacKenzie Scott Opportunities Scholarship (S.O.S) will assist first-time, credential-seeking, young adults under age 25 attend college. 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. 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. The recipients span from institutions of higher education and arts and culture, to organizations fighting poverty, working on interfaith issues and building community engagement. In her divorce from Bezos, Scott received a 4% stake in Amazon. Must be postmarked by April 30th. 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. The National Council on Aging got $8 million, while mental health nonprofit the Jed Foundation got $15 million. She has so far given away more than $8 billion in three rounds of funding revealed in the same manner. MacKenzie Scott (formerly Bezos) has announced the recipients of $1.67 billion in grants awarded since she signed the Giving Pledge fourteen months ago. 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. As she reached adulthood, Rodriguez says she realized that all parts of the creative industryHollywood, museums, dance, televisionwere run by white men holding all the power and financing. Her main expression of that critique is giving away so much money so quickly, and supporting so many bottom-up organizations, Mr. Callahan said. 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 . Charitable groups applauded the unconditional nature of Ms. Scotts gifts. Many of the cohort organizations experiencedrapid growth related to the grant, which in some cases was accompanied by growing pains and staff burnout. 5 min read. MacKenzie Scott : "There are lots of resources each of us can pull from our safes to share with others. The president of the University of Central Florida said his institution will receive $40 million the largest donation in the university's history. Yield Givings website includes a page devoted to Scotts process, describing the quiet research and evaluations her team has relied upon to pick recipients. 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. The phone rang in Morgans development office. 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. This Foundation was established in 1976 by brothers Alan and Don Mackenzie. The total amount of her giving in 2020 outstripped the entirety of the $5.1 billion in grants given by the Bill and Melinda Gates Foundation in 2019, one of the worlds top philanthropic organizations. Like Urrutia, Favianna Rodriguez is working to aid communities of color. Scott is now married to Seattle teacher Dan Jewett. 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. Anyone can read what you share. 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. 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. And rather than a few targeted donations, she gave broadly to hundreds of groups. Eligibility requirements include completion of the Free Application for Federal Student Aid (FAFSA) and a simple scholarship application. 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. 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. Evan Agostini/Invision, via Associated Press, inaccurate and at times bizarre responses. 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. 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. 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. Ms. McWhorter was not the only recipient who cried. Like her previous public letters, Ms. Scotts latest blog post was a personal reflection on privilege, need and responsibility. Anyone can read what you share. In the course of a few months, Ms. Scott has turned traditional philanthropy on its head. 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. They were farmers of Ealing who wanted to leave . Scotts gifts come in the form of unrestricted grants, meaning that nonprofits can spend the money however they want rather than on particular programs. Go read this Bloomberg article for a detailed look at how shes done it. Scott's approach to philanthropy is unusual in a number of ways. Ms. McWhorter shed tears of joy on the call. 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. MacKenzie Scott, the former wife of Amazon founder Jeff Bezos, is shown here in 2018. The unrestricted grants offered organizations space to learn and experiment lessons that can be shared to uplift an entire field. 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. ", "In this effort, we are governed by a humbling belief that it would be better if disproportionate wealth were not concentrated in a small number of hands, and that the solutions are best designed and implemented by others," Scott wrote. MacKenzie Scott seems to be nonresponsive to traditional approaches (there is no application process) and operates much more like a Donor Advised Fund (DAF). They divorced in mid-2019 and she received 25% of his Amazon stake. Over the course of 2020, MacKenzie Scott announced grants totaling almost $6 billion. And even fewer support organizations to restructure and shift control closer to the communities they support. 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. More surprisingly, the operation (which the website calls Yield Giving) also announced that Scott will allow nonprofits to formally apply for her gifts in the future, through what it calls an open-call process. That process will include an online application, the website says, but it doesnt yet provide specifics on timing, simply saying it is upcoming.. Use the applications and forms below to open new Mackenzie Investments accounts, transfer assets from other institutions and other tasks. 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. (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.). Most secretive and prolific philanthropists in the course of 2020, MacKenzie Scott is a philanthropist,,! The Free APPLICATION for Federal Student aid ( FAFSA ) and a simple Scholarship APPLICATION away he. Is working to aid communities of color to 286 organizations to 2021 high school.. 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