She had three children from her former marriage and they adopted one girl from China. Her fortune comes from shares of Amazon that she got after her divorce last year from Jeff Bezos, the companys founder. 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. As part of their split, she received 4 percent of the outstanding shares of Amazon. Some things Jeff Bezos can do with his $193 billion, Meta backs new tool for removing sexual images of minors posted online, Mark Zuckerberg says Meta now has a team building AI tools and personas, Whoops! 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 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.". MacKenzie Scott has unveiled a website to provide more transparency around her philanthropic efforts. Scott, the ex-wife of the world's richest person,. 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. August 2023 meeting - applications close on the 28th of July 2023. MacKenzie Scott, the ex-wife of Amazon founder Jeff Bezos, is giving away her $46 billion fortune faster than anyone in history. 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. Scott is currently worth about $21.2 billion, according to Bloomberg. We have to accelerate. MacKenzie Scott, the ex-wife of Amazon founder Jeff Bezos, is giving away her $46 billion fortune faster than anyone in history. 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. She was behind the wheel when she and Mr. Bezos drove to Seattle to start an online bookstore named after a Brazilian river. In her blog post, Scott describes systemic societal inequities and her belief that giving money to organizations directly working with communities in need is the way her wealth can be put to use, saying that she, her husband and her staff and advisers "are all attempting to give away a fortune that was enabled by systems in need of change. 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. She does not have a foundation of her own, which would require detailed public filings and a potentially large staff. Instead, at least some of her donations including the gift to the Chicago Y.W.C.A. Like her previous public letters, Ms. Scotts latest blog post was a personal reflection on privilege, need and responsibility. Get the latest nonprofit news, funding opportunities, job openings, and more delivered to your inbox with Philanthropy News Digest newsletters. Large global development organizations adopted remote and distributed approaches to staffing long before the pandemic. Anyone can read what you share. 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. Philanthropist MacKenzie Scott has donated more than $2.7 billion to hundreds of charities and organizations. Exceptions may be made for religious organizations who can demonstrate bona fide occupational qualifications based on religious belief for employment and volunteer participation. Morgan State University, a historically Black public college in Baltimore that traces its roots to the year 1867, has always struggled financially. 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. By Invitation Only. By Alexandra Hutzler Newsweek. And something greater rises up every time we give." Find new creative ways to help. On a Monday evening in November, Dorri McWhorter, the chief executive of the Y.W.C.A. Scott is now married to Seattle teacher Dan Jewett. The development community can learn about how to fund internationally from the choices, questions, and experiences of Scott grant recipients. Must be postmarked by April 30th. Chef Reign Free received support to keep her catering business afloat during the pandemic due to Scott's philanthropy. Buy chairs for them. 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. But the Red Door had the rug pulled out from under it when Covid hit. Yield Givings website includes a page devoted to Scotts process, describing the quiet research and evaluations her team has relied upon to pick recipients. While Scott publicly announces each round on Medium, the blogging website, she does not appear to speak directly to the nonprofits. Mr. Bezos has made some big charitable commitments but has not made philanthropy a top priority. 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 grants funding for genome research in order to advance cures. Its really critical for any philanthropist to address the inequities of how their wealth was created, she said. Even as the philanthropic funding discourse is gradually shifting toward localized and decentralized decision-making, funding practice hasnt kept up. 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. To subscribe, select any of the newsletters listed below. The website dropped at the end of a year in which Scott became more famous than ever, despite her shying from the spotlight, and not always for her donations. They are sworn to secrecy at first but are allowed to talk about the money once Ms. Scotts latest letter is posted. 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. If their choice is to hold onto that wealth or give it away, Im going to come down on the side of giving it away every time., Giving Billions Fast, MacKenzie Scott Upends Philanthropy, https://www.nytimes.com/2020/12/20/business/mackenzie-scott-philanthropy.html. BEGIN THE APPLICATION PROCESS. 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. 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. In the last few years, they have ramped up attention to organizational culture and health to achieve maximum organizational impact. So far, MacKenzie Scott has donated almost $6 billion in gifts. To subscribe, select any of the newsletters listed below. Scott also won praise from philanthropy experts for the way she donated her money: without strings attached. As one organization put it, "We should be building local organizations because they will be there longer than us and will have more credibility." After calls for more transparency, in December Scott wrote that she hopes to launch a website with a searchable grants database this year. 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. The wide array of gifts, and the manner in which they were announced, reflect Ms. Scotts highly unconventional approach to philanthropy. But the $2.74 billion. Since divorcing Bezos in 2019, the 51-year-old Scott has emerged as one of the most secretive and prolific philanthropists in the world. Unable to update subscription. Some interactive form features may not be fully supported when using Google Chrome. Ms. Scott appears attuned to the fact that her vast and growing fortune is made possible through Amazon, a company that has long faced scrutiny for its harsh working conditions and the myriad ways it has reshaped the economy, often centralizing wealth and power along the way. The billionaire philanthropist has so far given away more than $8 billion of her fortune in three rounds of funding. 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. 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. Evan Agostini/Invision, via Associated Press, inaccurate and at times bizarre responses. 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. She said she hoped to de-emphasize privileged voices and cede focus to others.. The first email literally got stuck in my junk mail.. 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. 26 Feb Feb 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. Who Can Apply for a Grant? If you have any questions about the Foundation or our grant process, email us below for a quick response. If Ms. Scott was making her donations through a foundation, she would be required to publicly disclose the amounts and recipients of all gifts. The remaining funds will go to initiatives such as fellowships for artists that include full salary and benefits, support for LGBTQ people of color breaking into Hollywood and administrative tasks like hiring additional staff. 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. Terms & Conditions. 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. Scotts gifts come in the form of unrestricted grants, meaning that nonprofits can spend the money however they want rather than on particular programs. 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 . Bezos said in 2017 he wanted to include right now donations among his mostly long-term philanthropic efforts since the bulk of his donations went to foundations. Feel free to contact us anytime. Get the latest nonprofit news, funding opportunities, job openings, and more delivered to your inbox with Philanthropy News Digest newsletters. 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. 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. 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. A representative for MacKenzie Scottcurrently the worlds 19th richest person with a net worth of $59 billionhad a message to deliver. The unrestricted grants offered organizations space to learn and experiment lessons that can be shared to uplift an entire field. (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.). Foundations are required by law to pay out at least 5 percent of their endowments a year. please try again later. Women dont like to splash their names on buildings, in general.. Her net worth, estimated at $36.1 billion in October 2019, has increased by some $23 billion since then. 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. Similar scenes were playing out at charities nationwide. 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. The phone rang in Morgans development office. 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. Little is known about how Ms. Scott selects her grantees, and there is no formal method for groups to apply for funds. Scotts operations have been largely shrouded in secrecy: A writer who calls herself a private person, she and her team refuse all interview requests. Power deserves scrutiny.. Staff capacity, sound fiscal policy and responsible financial management. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. 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. Scott's post lists all the recipients but doesn't state the amount of money they've been granted. 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. Metropolitan Chicago, got a phone call from a representative of the billionaire philanthropist MacKenzie Scott. 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. The MacKenzie Scott Opportunities Scholarship (S.O.S) will assist first-time, credential-seeking, young adults under age 25 attend college. This followed an announcement. Our programs and grants help create joyful, enriching experiences that lay the foundation for a lifetime of learning, and provide adults with the knowledge and skills they need to give children the best possible start. 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 works on two levels!). But Scotts gifts in 2020 were unrestricted, indicating she trusted the people on the ground doing the work, and it gives lie to the idea that its hard to make billion-dollar donations. We're looking at the crisis of the epidemic, the economic crisis, the climate crisis, and this moment of racial reckoning. Please Note: We are NOT MacKenzie Scott or Dan Jewett. A new MacKenzie Scott Opportunity Scholarship Fund, set to launch this year, is expected to yield an estimated $400,000 per year in new funding for scholarships. 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. And even fewer support organizations to restructure and shift control closer to the communities they support. You may opt-out by. Her latest round on June 15 was $2.7 billion distributed to 286 groups. 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.. "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. Its no secret MacKenzie Scott has committed some stunning acts of philanthropy of late. 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. Get some sleep," Scott suggested. 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. 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. 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. She just doesnt seem to be tuned in to that kind of stuff at all, Mr. Callahan said. MacKenzie Scott details recipients of recent awards, Habitat for Humanity receives $436 million from MacKenzie Scott, Boys & Girls Clubs of America receives $281 million gift, National 4-H Council receives $50 million from MacKenzie Scott, MacKenzie Scott announces recipients of $1.67 billion in grants, 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. Worth of $ 1.67 billion in decentralized decision-making, funding opportunities, job openings, and this of! Amount of money they 've been granted since then reflect Ms. Scotts highly unconventional approach to philanthropy donated! 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