Twenty-four nonprofits announced they’ve received donations totaling $146 million from MacKenzie Scott through her Yield Giving fund this year, according to a Chronicle of Philanthropy tally.
Still, there were pros and cons to consider. Trust officials wanted to announce the gift to show that a high profile philanthropist like Scott has faith in the trust’s mission and its ability to manage a gift of that size.
Patricia Lozano, executive director of Early Edge California, an early-childhood education advocacy group, had similar reasons for wanting to publicize the $3 million gift the organization received this summer. “Philanthropy as a whole would benefit from more knowledge about the organizations getting the grants and why they’re getting them,” says Joanne Florino, a Philanthropy Roundtable official who advises donors and foundations.
Scott’s case is unique because of the size of her wealth, currently estimated at roughly $37 billion, and because her fortune was generated by her stock in Amazon, one of the highest-profile companies in the world, Rosqueta says. “If you look at the media, if you look at institutions, the focus is on the wealthy individual and always has been,” Rosqueta says. “It should be no surprise that a wealthy, very high-profile individual who is pushing back against that quite intentionally is making people concerned or feel uncomfortable because it is not the way things have been.” to community-focused charities to apply to Yield Giving for grants and plans to give $1 million apiece to 250 charities.
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