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Philanthropist MacKenzie Scott Donates an Astounding $640 Million To 361 Nonprofits | More Than Finances
Thursday, May 16, 2024

Philanthropist MacKenzie Scott Donates an Astounding $640 Million To 361 Nonprofits

Renowned philanthropist MacKenzie Scott has broken her own record once more, surprising an impressive count of 361 nonprofits with donations totaling $640 million, under her organization, Yield Giving. 

This generous giving spree was announced by Lever for Change and introduces a new dimension to the traditional philanthropic approach.

A Giving Strategy Unique in its Own Rights

mackenzie scott
Credit: DepositPhotos

Scott, co-establisher of Amazon and ex-spouse of Jeff Bezos, is carving her own philanthropic path, opting for a disparate approach than her former husband. 

Bezos, known for eye-catching, large donations, recently announced a whopping $50 million pledge along with his fiancée Lauren Sánchez. 

However, Scott preferentially fragments her philanthropy, granting hefty sums to an array of smaller organizations – a decision that promotes diversity and extends the benefits of her generosity to a wider range.

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A Gift Bringing Transformative Change

The impact of Scott’s benefactions is truly transformative. Among the recipients is Gender Justice, an organization striving for gender equity. 

Upon receiving their $2 million donation, the largest one-time contribution in their history, Megan Peterson, the executive director of the organization, mentioned, “This Open Call award helps us take our fight for justice and equity to the next level, continuing our work to dismantle the legal, structural, and cultural barriers that contribute to gender inequity.”

More than 6,000 nonprofits applied for the funding, exceeding the initial expectations of the open call that intended for 250 awards, each worth $1 million. 

According to Lever for Change, the organization that managed the open call, the overwhelming talent and earnest work of the participating nonprofits prompted the donor team to expand both the awardees pool and the total award amount.

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A Competition under Peer and Panel Scrutiny

This philanthropic initiative also introduced a unique review process. Contestants were peer-rated and judged by an external panel. The highest-rated nonprofits were shortlisted and underwent a second-round interview and final round, details shared by Lever for Change. 

Ultimately, the top 279 nonprofits, which led the scorecards, each received $2 million, while the subsequent 82 in line received $1 million apiece.

A History of Continuous Generosity

AmazonGo
Credits: DepositPhotos

Scott’s history of altruism runs deep. In 2022, her team pledged over $3.8 billion to 465 organizations in a span of nine months. 

Notable among the beneficiaries were Habitat for Humanity, with a generous gift of $436 million, and Girl Scouts of the USA, which received its largest ever individual donation of $84.5 million. As of this announcement, Scott’s philanthropic contributions for the past year stand at a towering $2.15 billion.

Both Yield Giving and Scott herself maintain a database of donation amounts intended for NGOs and nonprofits. 

Despite her immense generosity, the philanthropist still reportedly commands a staggering fortune of $36.2 billion, according to the Bloomberg Billionaires Index.

MacKenzie Scott, reshaping the landscape of philanthropy one donation at a time, truly exemplifies that wealth alone doesn’t make an impact – it’s about how you choose to distribute it.

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