MacKenzie Scott donates $640 million after open call for nonprofits

MacKenzie Scott donates $640 million after open call for nonprofits - Business - News

MacKenzie Scott’s Transformative $640 Million Philanthropic Initiative: Empowering 361 Nonprofits

MacKenzie Scott, a renowned philanthropist, recently announced that her organization, Yield Giving, along with Lever for Change, will be distributing an astonishing $640 million to 361 deserving nonprofits following a call for applications. This substantial investment surpassed the initial plan of granting 250 organizations $1 million each, as more than 6,000 applicants showcased their exceptional work.

The application process was rigorous, requiring organizations to be rated by their peers. The top-rated applicants advanced to a series of interviews with an external panel before undergoing the final selection process. In total, 279 organizations received $2 million each and 82 organizations in the next tier were awarded a grant of $1 million.

One such recipient, Gender Justice, which aims to promote gender equality, received a record-breaking $2 million donation – the largest one-time gift in their history. Megan Peterson, Gender Justice’s executive director, expressed her gratitude: “This Open Call award helps us take our fight for justice and equity to the next level, continuing our work to dismantle legal, structural, and cultural barriers that contribute to gender inequity.”

Scott’s unique approach to philanthropy sets her apart from her ex-husband Jeff Bezos. While Bezos and his partner Lauren Sánchez donated high-profile, yet smaller sums to actress Eva Longoria and retired Admiral Bull McRaven, Scott distributes her vast resources among numerous organizations.

Scott’s charitable efforts have proven transformative for many recipients. Yield Giving maintains a comprehensive database of donation amounts to nonprofits and organizations that receive her contributions. In December 2021, she revealed $2.15 billion in donations distributed over the previous year on Yield Giving. Between January and September 2022, her team donated a staggering $3.8 billion to 465 organizations.

Among the beneficiaries, Habitat for Humanity received an impressive $436 million and Girl Scouts of the USA secured its largest-ever donation of $84.5 million from a single individual – MacKenzie Scott. With a net worth of $36.2 billion, according to the Bloomberg Billionaires Index, her philanthropic initiatives are not only impactful but also inspire change within numerous communities.