In the course of a few months, Ms. Scott has turned traditional philanthropy on its head. Mackenzie Investments Charitable Foundation grants in 2018: $801,000 35 charities received grants in 2018 Largest grant to a partner charity in 2018: $50,000 Our Partner Charities The Foundation focuses on giving high-impact grants to charities across the country, with a special focus on organizations that help children and youth at risk. "These are people who have spent years successfully advancing humanitarian aims, often without knowing whether there will be any money in their bank . 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. In ablog post, Scott whose divorce from Amazon founder and CEO Jeff Bezos reportedly left her with Amazon stock valued at more than $35 billion and whotweetedon Tuesday that she would begin using her middle name as her last name wrote that she had been working with nonprofit advisors from historically marginalized race, gender, and sexual identity groups to help identify and evaluate potential grantees. Her latest round on June 15 was $2.7 billion distributed to 286 groups. Feel free to contact us anytime. Like Urrutia, Favianna Rodriguez is working to aid communities of color. Feasibility studies for capital campaigns. MacKenzie Scott, the former wife of Amazon founder Jeff Bezos, is shown here in 2018. 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. Must be postmarked by April 30th. (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.). On Wednesday, Scotts team published a long-promised website with details about her philanthropy, including a database of the donations she has made since 2020. 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. August 2023 meeting - applications close on the 28th of July 2023. 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. But Scott gave directly to charitable organizations: Chuck Collins, director of the Program on Inequality and the Common Good at the Institute for Policy Studies, notes that cash went directly to charities, rather than sitting in a foundation. 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. Use the applications and forms below to open new Mackenzie Investments accounts, transfer assets from other institutions and other tasks. 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. FORTUNE may receive compensation for some links to products and services on this website. A representative for MacKenzie Scott currently the world's 19th richest person with a net worth of $59 billionhad a message to deliver. They were valued at the time at $38 billion. 2023 Fortune Media IP Limited. MacKenzie Scott : "There are lots of resources each of us can pull from our safes to share with others. MacKenzie Scott in 2018. 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. Less than two months into 2022, Scott isn't showing any signs of . She has swiftly followed through, and by 2021 had become the third most generous U.S. philanthropist on paper. November 2023 meeting - applications close on the 27th of October 2023. But she is not using a foundation. 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. Long Beach City College, in California, thanked Scott for $30 million also the single largest donation in its history. 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. Staff capacity, sound fiscal policy and responsible financial management. 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. Hire a few extra team members they know they can pay for the next five years. We know that LGBTQ young people are powerful and resilient, and Bezos' gift will allow us to help more LGBTQ young people pursue higher education and achieve their full potential as leaders in our society.". 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. Shaw. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice| Do Not Sell/Share My Personal Information| Ad Choices We want to invest it over decades.. If you are looking for a way to serve humanitys common cause, every one of them is a great candidate. were made through a Fidelity donor-advised fund. 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. Her work focuses on supporting social entrepreneurs and social change leaders to implement their work through fiscal sponsorship and other partnership models, and co-leading efforts to deepen learning and knowledge sharing across the nonprofit and philanthropic sectors. The surprising part was the unrestricted . 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. In order to be eligible, you must: be a qualified recipient that is a tax exempt US organization with a charitable purpose stated under section 501 (c) 3 of the Internal Revenue Code. 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. 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. Ms. Scott has a recognition that the organizations are doing the good work and let us be the stewards of those dollars.. Recognizes the positive impact of diversity to improve lives in our community. She has this anti-elite approach to philanthropy. So far, MacKenzie Scott has donated almost $6 billion in gifts. And something greater rises up every time we give." She seems to have a handle on how to do the most good as directly as possible. By disbursing her money quickly and without much hoopla, Ms. Scott has pushed the focus away from the giver and onto the nonprofits she is trying to help. Political candidates or organizations, fraternal organizations or veteran organizations. 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. 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. 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. Please Note: We are NOT MacKenzie Scott or Dan Jewett. Find new creative ways to help. "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. Candid gets you the information you need to do good. Email to ctucker@scottrmackenziefoundation.com or mail to 2518 Park Street, Suite 2, Jacksonville, FL 32204. Go read this Bloomberg article for a detailed look at how shes done it. "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. But shares of the company's stock rose sharply during the pandemic, and despite giving away billions, Scott's wealth keeps growing. A large, unrestricted grant can shift an organizations position providing greater visibility, more opportunities to influence the fields direction, and greater legitimacy with donors. Get the latest nonprofit news, funding opportunities, job openings, and more delivered to your inbox with Philanthropy News Digest newsletters. Collaboration and cooperation with other organizations. In a recent analysis, we looked at the characteristics of the December cohort, which totaled $4.2 billion to 384 nonprofits. 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. But now Scott, who is also an author and the ex-wife of Amazon founder Jeff Bezos, has announced in . 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. Collaborative Learning from Impact Philanthropy, $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, General Call for CVs Agriculture Specialist, Team Lead & Agriculture Development Specialist, Opinion: Rethinking global health funding for the good of all, Opinion: Why we all play a role in vaccine confidence, Q&A: Beyond borders and money how banks should support Ukraine, How data science can unlock development in least developed countries, Watch: Partnering to close the health equity gap, MacKenzie Scott's giving 'profoundly positive' for nonprofits: report, Devex Newswire: MacKenzie Scott and Jeff Bezos have new giving plans, Melinda French Gates-backed Co-Impact gives $161M in new grants. Among the recipients are more than 220 organizations operating globally, half of which are based outside the United States. MacKenzie Scott, the ex-wife of Amazon founder Jeff Bezos, is giving away her $46 billion fortune faster than anyone in history. She has until now announced her donations, and named the nonprofits shes funding, through reflective, literary essays posted twice a year on Medium. Metropolitan Chicago, got a phone call from a representative of the billionaire philanthropist MacKenzie Scott. BEGIN THE APPLICATION PROCESS. 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. MacKenzie Scott seems to be nonresponsive to traditional approaches (there is no application process) and operates much more like a Donor Advised Fund (DAF). Where Scott grant recipients chose to spend their unrestricted grants offers clues about the areas of global development that have historically been underfunded. If you have any questions about the Foundation or our grant process, email us below for a quick response. Philanthropist MacKenzie Scott has announced details of the more than $3.86 billion in gifts she has awarded since June of 2021.. Over the past nine months, Scott has awarded grants to 465 nonprofits. Each nonprofit it will list was selected through a rigorous process, and has a strong track record of serving under-supported needs. To subscribe, select any of the newsletters listed below. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. The phone rang in Morgans development office. 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. 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. 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. 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. 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. For global south organizations in the cohort that had rarely received unrestricted funds, using this grant to build stronger, more flexible and more diverse revenue streams was a top priority. Many donors of large amounts have specific instructions for how they want charities to use their funds. After deeper research into 822 of them, she and her advisers selected 384 groups to receive nearly $4.2 billion in funds. Little is known about how Ms. Scott selects her grantees, and there is no formal method for groups to apply for funds. We don't have a lot of time. 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. Rodriguez found her escape through art, allowing her to express herself through screen printing, painting murals and making social justice posters. The Scott grants provide them with breathing room, flexibility to make strategic choices, and the opportunity to focus on systems change work. 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. The Scott R. MacKenzie Foundation funds leading-edge human genetic research to advance cures for cancer, lung disease, diabetes and heart disease. Similar scenes were playing out at charities nationwide. Unable to update subscription. Accions Covid relief fund proved pivotal for one of their longtime customers, chef Reign Free. She refers to a team of advisers rather than a large dedicated staff. In her divorce from Bezos, Scott received a 4% stake in Amazon. She just doesnt seem to be tuned in to that kind of stuff at all, Mr. Callahan said. Scotts operations have been largely shrouded in secrecy: A writer who calls herself a private person, she and her team refuse all interview requests. The wide array of gifts, and the manner in which they were announced, reflect Ms. Scotts highly unconventional approach to philanthropy. 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. 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. 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.. Thanks to the soaring value of that stock, Ms. Scott is accumulating wealth faster than she can give it away. 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. Evan Agostini/Invision/AP Usually you dont have very large philanthropists wandering the landscape looking to drop millions of dollars very quietly into organizations that they care about, said Adam Zimmerman, president and chief executive of Craft3, which gives loans to small businesses in Oregon and Washington and which received a $10 million gift from Ms. Scott. GRANT APPLICATION Jacksonville's Scott R. MacKenzie Foundation offers grants for genetic research. The billionaire philanthropist has so far given away more than $8 billion of her fortune in three rounds of funding. 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. Giving Billions Fast, MacKenzie Scott Upends Philanthropy Through a streamlined operation, Ms. Scott has given away $6 billion this year, much of it to small charities and nonprofits.. 5 min read. A child's future is profoundly influenced by how they learn and develop in their earliest years. The scholarship is need based and will fund up to $2,000 per student. Foundations are required by law to pay out at least 5 percent of their endowments a year. 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