Many big-time donors, he said, model themselves off of venture capitalism and take an extremely aggressive approach in terms of monitoring the performance of grant recipients. She has swiftly followed through, and by 2021 had become the third most generous U.S. philanthropist on paper. They divorced in mid-2019 and she received 25% of his Amazon stake. Shes not putting herself in the drivers seat., MacKenzie Scott Gives Away Another $2.74 Billion Even as Her Wealth Grows, https://www.nytimes.com/2021/06/15/business/mackenzie-scott-philanthropy.html. Scott is currently worth about $21.2 billion, according to Bloomberg. However, some organizations have revealed how much money they'll receive. That fund will eventually disclose the groups that received money, but is not required to say who is behind each gift. "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. 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. It works on two levels!). In the last few years, they have ramped up attention to organizational culture and health to achieve maximum organizational impact. A gift like this for a nonprofit is equivalent to a billion dollars, Accion chief executive Luz Urrutia told Forbes. 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. Women dont like to splash their names on buildings, in general.. 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. / Sign up for Verge Deals to get deals on products we've tested sent to your inbox daily. And although Ms. Scott offered a list of nearly 400 organizations, she could well have given gifts to other groups. Scotts windfall grants have few or no strings attached and center on race, gender, equity, and localized decision-making. 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. Mr. Bezos has made some big charitable commitments but has not made philanthropy a top priority. Yield Givings website includes a page devoted to Scotts process, describing the quiet research and evaluations her team has relied upon to pick recipients. Editor's note: Updated on Feb. 22, 2022 to include a donation to National 4-H Council. In a break from the way many foundations operate, Ms. Scott said her gifts were not earmarked for specific programs. MacKenzie Scott promised she would give her fortune away until the safe is empty. That has proved to be harder than expected. (Editor's note: The amount of money transferred into Lehman College's endowment has been changed based on updated information provided by the college.) MacKenzie Scott in 2018. MacKenzie Scott announced on Tuesday her second major charitable contribution of the year, giving away nearly $4.2 billion to 384 organizations as part of a plan to donate a majority of her fortune. People-centered measures for recruitment and staff wellness, training, and retention. Documenting their founding principles and values. Intentionally communicating about evolving organizational norms in both directions between leadership and staff. Creating space for fostering staff agency, risk-taking and ideas generation among both the board of directors and staff. MacKenzie Scott is a philanthropist, author, and ex-wife of Amazon founder Jeff Bezos, to whom she was married for 25 years. Candid gets you the information you need to do good. GRANT APPLICATION Jacksonville's Scott R. MacKenzie Foundation offers grants for genetic research. 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. 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. 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. We're looking at the crisis of the epidemic, the economic crisis, the climate crisis, and this moment of racial reckoning. Exceptions may be made for religious organizations who can demonstrate bona fide occupational qualifications based on religious belief for employment and volunteer participation. Ms. Scott, who declined to comment, rocketed to public attention with the announcement nearly two years ago that she and Mr. Bezos were divorcing. Notably, Scott didnt publicly announce these donations herself, as she has done in the past. Ms. McWhorter shed tears of joy on the call. 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. She has this anti-elite approach to philanthropy. Jewett joined Scott in signing the Giving Pledge, a commitment by wealthy individuals to give away a majority of their money. "Many reported that this trust significantly increased the impact of the gift," Scott wrote. 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. Sign up for Verge Deals to get deals on products we've tested sent to your inbox daily. 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. So she applied to art school, only to be rejected. "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. 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. Ms. Scott has a recognition that the organizations are doing the good work and let us be the stewards of those dollars.. On July 28, 2020, MacKenzie Scott shocked the philanthropic community by donating USD 1.7 billion to 116 nonprofits around the world. please try again later. As one organization put it, "We should be building local organizations because they will be there longer than us and will have more credibility." Scott, the ex-wife of the worlds richest person, Amazon founder Jeff Bezos (net worth nearly $200 billion), was making a transformative donation to Morgan of $40 million. $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. Use the applications and forms below to open new Mackenzie Investments accounts, transfer assets from other institutions and other tasks. The latest grants will be distributed to 286 organizations including major universities, distinguished arts groups, and nonprofits working to combat racial injustice and domestic violence. 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. These organizations work in agriculture, civic engagement, community-led development, access to education and health, gender equity, legal empowerment, and poverty alleviation. Scott also won praise from philanthropy experts for the way she donated her money: without strings attached. She seems to have a handle on how to do the most good as directly as possible. 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. 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. 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. 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. This shift in the locus of decision-making is critical. The Bloomberg timeline shows how the pace of giving shifted after the couple divorced; prior to 2019, they made several million- and multimillion-dollar donations here and there. Scott alluded to her thinking behind helping groups helping others in her latest Medium post, writing, We believe that teams with experience on the front lines of challenges will know best how to put the money to good use. Ultimately, Urrutia says, Scotts philanthropy sends the message that you and your team know how to best deploy the dollars.. 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. Get some sleep," Scott suggested. "These are people who have spent years successfully advancing humanitarian aims, often without knowing whether there will be any money in their bank . Her net worth is estimated to be nearly $60 billion. 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