MacKenzie Scott’s quest to give the bulk of her wealth to charity continues.
So far this year, 17 nonprofits have announced they’ve received unrestricted donations from Scott through her Yield Giving fund, according to a Chronicle of Philanthropy tally. The gifts total $97 million and range from $1 million to $15 million. Nearly half went to charities focused on early-childhood education and early-childhood development. Scott has nowTo encourage people to focus on the charities rather than on her, Scott has stopped announcing her donations as she had in the past.
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.
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