Philanthropist MacKenzie Scott has announced a generous donation of $640 million to 361 nonprofits in response to an open call for applications, as disclosed by her organization, Yield Giving, and Lever for Change on Tuesday.
Originally planning to award 250 grants of $1 million each, the initiative received overwhelming interest, with over 6,000 nonprofit organizations applying for funding. In light of the exceptional work demonstrated by these organizations, Scott decided to expand the awardee pool and the total award amount, surpassing initial expectations.
Since beginning her philanthropic journey in 2019, Scott and her team have provided substantial, unrestricted gifts to various organizations without requiring an application process. This latest round of donations through Yield Giving marks a significant increase from her initial commitment.
Expressing gratitude to Lever for Change and the evaluators for facilitating the selection process, Scott highlighted the importance of supporting initiatives aimed at improving access to essential resources within communities.
The decision to broaden both the award amount and the number of organizations selected has been met with enthusiasm. Elisha Smith Arrillaga, vice president at The Center for Effective Philanthropy, emphasized the positive impact of such initiatives in promoting inclusivity and diversity within the philanthropic sector.
Competitive philanthropic opportunities like Scott’s open call provide a platform for organizations that may not have access to traditional funding channels. Renee Karibi-Whyte, senior vice president at Rockefeller Philanthropy Advisors, emphasized the value of such competitions in amplifying the voices of underrepresented groups and organizations.
Reflecting on the application process, Megan Peterson, executive director of the Minnesota-based nonprofit Gender Justice, emphasized the significance of the opportunity to garner recognition from Scott. Peterson’s organization plans to utilize the funds to expand their impactful work into North Dakota.
Yield Giving’s open call specifically targeted community-led nonprofits with a focus on advancing opportunities for individuals and families with limited means. The selection process involved rigorous evaluation by both peers and external experts to ensure transparency and fairness.
Scott’s commitment to philanthropy has been evident through her substantial contributions, totaling $16.5 billion to date. By sharing information about her giving journey through Yield Giving, Scott aims to inspire others and foster a culture of transparency within the philanthropic community.