Billionaire philanthropist and author MacKenzie Scott announced Tuesday she is giving $640 million to 360 small nonprofits that responded to an open call for applications.
Yield Giving’s first round of donations is more than double what Scott had initially pledged to give away through the application process. Since she began giving away billions in 2019, Scott and her team have researched and selected organizations without an application process and provided them with large, unrestricted gifts.
In a brief note on her website, Scott wrote she was grateful to Lever for Change, the organization that managed the “open call,” and the evaluators for “their roles in creating this pathway to support for people working to improve access to foundational resources in their communities. They are vital agents of change.”
Some 6,353 nonprofits applied for the $1 million grants when applications opened.
“In light of the incredible work of these organizations, as judged by their peers and external panelists, the donor team decided to expand the awardee pool and the award amount,” said Lever for Change, which specializes in running philanthropic prize awards.
Competitions like the open call can help organizations who do not have connections with a specific funder get considered, said Renee Karibi-Whyte, senior vice president, Rockefeller Philanthropy Advisors.
“One of the best things about prize philanthropy is that it surfaces people and organizations and institutions that otherwise wouldn’t have access to the people in the power centers and the funding,” she said. Her organization also advises funders who run competitive grants or philanthropic prize competitions to phase the application to diminish the burden of applying on any organization that is eliminated early.
The 279 nonprofits that received top scores from an external review panel were awarded $2 million, while 82 organizations in a second tier received $1 million each.
The “open call” asked for applications from nonprofits who are community-led with missions “to advance the voices and opportunities of individuals and families of meager or modest means,” Yield Giving said on its website. Only nonprofits with annual budgets between $1 and $5 million were eligible to apply.
“In a world teeming with potential and talent, the Open Call has given us an opportunity to identify, uplift, and empower transformative organizations that often remain unseen,” Cecilia Conrad, CEO of Lever for Change, said in a statement.
The awardees were selected through a multilayer process, where applicants scored fellow applicants and then the top organizations were reviewed by a panel of outside experts.
Scott has given away $16.5 billion from the fortune she came into after divorcing Amazon founder Jeff Bezos. Initially, she publicized the gifts in online blog posts, sometimes naming the organizations and sometimes not. She launched a database of her giving in December 2022, under the name Yield Giving.
In an essay reflecting on the website, she wrote, “Information from other people – other givers, my team, the nonprofit teams I’ve been giving to – has been enormously helpful to me. If more information about these gifts can be helpful to anyone, I want to share it.”
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MacKenzie Scott, the ex-wife of Amazon founder Jeff Bezos, has once again made headlines with her generous philanthropic efforts. In a recent announcement, Scott revealed that she has increased her donations to nonprofits to a staggering $640 million, surpassing her original plan of giving away $500 million.
This latest round of donations is part of Scott’s ongoing commitment to supporting organizations that are working to address some of the most pressing issues facing society today. Since her divorce from Bezos in 2019, Scott has emerged as one of the most prominent and impactful philanthropists in the world, using her vast wealth to make a difference in areas such as racial equity, economic mobility, and gender equality.
In a blog post announcing the increased donations, Scott emphasized the importance of supporting organizations that are making a real impact on the ground. She highlighted the work of grassroots organizations and those led by people of color, who are often underfunded and overlooked in the world of philanthropy.
Scott’s approach to giving is unique in that she does not have a formal foundation or set criteria for funding. Instead, she relies on a team of advisors to help identify organizations that are doing important work and are in need of financial support. This allows her to be nimble and responsive in her giving, and to direct funds where they are most needed.
The recipients of Scott’s latest round of donations include a wide range of organizations, from food banks and homeless shelters to educational programs and environmental initiatives. Many of these organizations have been struggling to meet increased demand for their services during the COVID-19 pandemic, making Scott’s support all the more crucial.
Scott’s generosity has been met with widespread praise and gratitude from the nonprofit sector. Many organizations have expressed their appreciation for her willingness to support their work and help them continue making a difference in the lives of those they serve.
As Scott continues to increase her donations and expand her philanthropic efforts, it is clear that she is committed to using her wealth for good and making a positive impact on the world. Her example serves as an inspiration to others who have the means to give back, showing that even small acts of generosity can make a big difference in the lives of those in need.
