{"id":138668,"date":"2024-12-19T05:42:52","date_gmt":"2024-12-18T22:42:52","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=138668"},"modified":"2024-12-19T05:42:52","modified_gmt":"2024-12-18T22:42:52","slug":"philanthropist-mackenzie-scott-reveals-another-2-billion-in-donations-in-2024","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=138668","title":{"rendered":"Philanthropist MacKenzie Scott reveals another $2 billion in donations in 2024"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div>\n<p>NEW YORK (AP) \u2014 Billionaire author and philanthropist <span class=\"LinkEnhancement\"><a class=\"Link AnClick-LinkEnhancement\" data-gtm-enhancement-style=\"LinkEnhancementA\" href=\"https:\/\/apnews.com\/article\/mackenzie-scott-donations-962490e92faab36492b7481205ec7249\">MacKenzie Scott<\/a><\/span> acknowledged another $2 billion in donations in a blog post on Wednesday, bringing the total she\u2019s given away since 2019 to $19.2 billion. <\/p>\n<p>She also revealed new information about how she was managing her wealth, saying she had directed advisors to invest her funds into \u201cmission-aligned ventures.\u201d Most of the grants she made in 2024, she said, went to bolstering economic security and opportunities..<\/p>\n<p>\u201cI\u2019ve asked the investment team helping me manage the assets I\u2019m working to give away to source funds and companies focused on for-profit solutions to these challenges,\u201d Scott wrote. That is in contrast to \u201cwithdrawing funds from a bank account, or from a stock portfolio that increases the wealth and influence of leaders who already have it.\u201d <\/p>\n<p>Most of Scott\u2019s wealth comes from shares of Amazon that she received when she divorced the company\u2019s founder, Jeff Bezos. Forbes estimates her current wealth to be $31.7 billion, even after giving away her money for five years. <\/p>\n<p>Gabrielle Fitzgerald, founder and CEO of The Panorama Group, has researched Scott\u2019s giving and provided advice and support for nonprofits who have received Scott\u2019s gifts. She said she sees a growing focus in Scott\u2019s giving on issues of poverty. <\/p>\n<p>\u201cShe is creating an amazing role model for philanthropists, although I don\u2019t see very many that have followed her role modeling,\u201d Fitzgerald said. \u201cBut it really shows that it\u2019s easy to give away a lot of money to good groups.\u201d<\/p>\n<p>In announcing the gifts on her Yield Giving website, Scott mulled over the meaning of \u201cinvesting,\u201d writing that it \u201cseems to have undergone a kind of semantic shriveling. On the list of its big, beautiful, original definitions? To devote resources for a useful purpose. To endow with rights. To clothe.\u201d<\/p>\n<p>Scott, who does not comment on her giving beyond the rare post on her website, has shaken up the nonprofit sector with her embrace of \u201ctrust-based philanthropy,\u201d providing <span class=\"LinkEnhancement\"><a class=\"Link AnClick-LinkEnhancement\" data-gtm-enhancement-style=\"LinkEnhancementA\" href=\"https:\/\/apnews.com\/article\/technology-science-philanthropy-girl-scouts-of-the-usa-climate-and-environment-153426751261a5a0d40da5afca7c1fbb\">big grants with no strings attached<\/a><\/span> to over 2,450 nonprofits. <\/p>\n<p>In 2024, she also gave repeat gifts to several organizations \u2014 something of a new development in her giving, which has set a high bar for <span class=\"LinkEnhancement\"><a class=\"Link AnClick-LinkEnhancement\" data-gtm-enhancement-style=\"LinkEnhancementA\" href=\"https:\/\/apnews.com\/article\/billionaires-giving-pledge-marie-benoit-dageville-b5dca08e17e55b65226db20ce94a1b4c\">how much and how fast megadonors can give<\/a><\/span>. Two organizations, CAMFED, which supports girls education in Africa, and <span class=\"LinkEnhancement\"><a class=\"Link AnClick-LinkEnhancement\" data-gtm-enhancement-style=\"LinkEnhancementA\" href=\"https:\/\/apnews.com\/article\/mackenzie-scott-donation-undue-medical-debt-8d31a181ae26c4ff283fb63d6520d752\">Undue Medical Debt<\/a><\/span>, which was formerly called RIP Medical Debt, both got third donations from Scott this year.<\/p>\n<p>Grantees say that when Scott\u2019s team notifies them of grants they say not to expect additional support. So it was a surprise for Shaun Donovan, CEO of the <span class=\"LinkEnhancement\"><a class=\"Link AnClick-LinkEnhancement\" data-gtm-enhancement-style=\"LinkEnhancementA\" href=\"https:\/\/apnews.com\/article\/low-income-housing-tax-credit-affordable-harris-8f68bcf189c17f910459142ee8a50289\">affordable housing<\/a><\/span> organization Enterprise Community Partners, when he got the news of a second, major donation. <\/p>\n<p>\u201cI was taking my luggage off the security screener at LaGuardia Airport and my phone rang and I was told that MacKenzie Scott was awarding us another $65 million,\u201d Donovan said in an interview in November. <\/p>\n<p>His organization had received $50 million from Scott in 2020, making them one of the nonprofits that has received the most funding from Scott, based on grant data made public on <span class=\"LinkEnhancement\"><a class=\"Link AnClick-LinkEnhancement\" data-gtm-enhancement-style=\"LinkEnhancementA\" href=\"https:\/\/apnews.com\/article\/business-philanthropy-amazoncom-inc-cd1001a49c168f1d01c99ade96c5c671\">Yield Giving<\/a><\/span>. About 500 organizations have not disclosed the amount of funding they\u2019ve received from Scott.<\/p>\n<p>\u201cWe were not expecting their second gift. Every time they award this funding, they\u2019re very clear that organizations should not expect it,\u201d Donovan said, adding his advice is, \u201cReally treat it that way. Don\u2019t use it for regular operating expenses. Don\u2019t use it for things that will create a cliff or a hole in your budget for your organization.\u201d<\/p>\n<p>This year was already a standout in Scott\u2019s giving because it was the first time that she awarded grants through an application process. In March, she announced the recipients of an <span class=\"LinkEnhancement\"><a class=\"Link AnClick-LinkEnhancement\" data-gtm-enhancement-style=\"LinkEnhancementA\" href=\"https:\/\/apnews.com\/article\/business-philanthropy-amazoncom-inc-cd1001a49c168f1d01c99ade96c5c671\">\u201copen call\u201d for applications from nonprofits<\/a><\/span>. She surprised recipients by awarding more money to more organizations than she had initially promised, committing <span class=\"LinkEnhancement\"><a class=\"Link AnClick-LinkEnhancement\" data-gtm-enhancement-style=\"LinkEnhancementA\" href=\"https:\/\/apnews.com\/article\/mackenzie-scott-open-call-yield-giving-bezos-ae809a469080e9e61a945a14a230629e\">$640 million<\/a><\/span> to more than 360 nonprofits. <\/p>\n<p>In one measure of the demand for the large and unrestricted grants she makes, <span class=\"LinkEnhancement\"><a class=\"Link AnClick-LinkEnhancement\" data-gtm-enhancement-style=\"LinkEnhancementA\" href=\"https:\/\/apnews.com\/article\/mackenzie-scott-grants-3bec2a5fd1467e68728eb636d5b9f46a\">6,353 nonprofits<\/a><\/span> applied through the nonprofit Lever for Change, which ran the \u201copen call\u201d for Scott. Ultimately, 279 nonprofits were awarded $2 million, while 82 organizations received $1 million each. Previously, organizations have said they\u2019ve responded to <span class=\"LinkEnhancement\"><a class=\"Link AnClick-LinkEnhancement\" data-gtm-enhancement-style=\"LinkEnhancementA\" href=\"https:\/\/apnews.com\/article\/philanthropy-9405ee32f2271adb01780e0bbd25c26a\">questions from an anonymous donor<\/a><\/span> who turned out to be Scott or just received an email or cold call without any application at all. <\/p>\n<p>The fact that her grants are unrestricted, meaning that nonprofits can use them however they want to further their charitable purpose, is part of what makes them so valuable, Donovan said. Five years into her philanthropic blitz, he said it\u2019s now possible to see her impact across whole sectors. <\/p>\n<p>\u201cThe scale of this giving has really not just changed individual organizations but changed entire fields like affordable housing,\u201d he said.<\/p>\n<h2>___<\/h2>\n<p>Associated Press coverage of philanthropy and nonprofits receives support through the AP\u2019s collaboration with The Conversation US, with funding from Lilly Endowment Inc. The AP is solely responsible for this content. For all of AP\u2019s philanthropy coverage, visit <span class=\"LinkEnhancement\"><a class=\"Link AnClick-LinkEnhancement\" data-gtm-enhancement-style=\"LinkEnhancementA\" href=\"https:\/\/apnews.com\/hub\/philanthropy\">https:\/\/apnews.com\/hub\/philanthropy<\/a><\/span>.<\/p>\n<\/p><\/div>\n<p><script>\n  window.fbAsyncInit = function() {\n      FB.init({\n              appId : '870613919693099',\n          xfbml : true,\n          version : 'v2.9'\n      });\n  };\n  (function(d, s, id){\n     var js, fjs = d.getElementsByTagName(s)[0];\n     if (d.getElementById(id)) {return;}\n     js = d.createElement(s); js.id = id;\n     js.src = \"https:\/\/connect.facebook.net\/en_US\/sdk.js\";\n     fjs.parentNode.insertBefore(js, fjs);\n   }(document, 'script', 'facebook-jssdk'));\n<\/script><br \/>\n<br \/><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><div data-type=\"_mgwidget\" data-widget-id=\"1660802\">\r\n<\/div>\r\n<script>(function(w,q){w[q]=w[q]||[];w[q].push([\"_mgc.load\"])})(window,\"_mgq\");\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/apnews.com\/article\/mackenzie-scott-donations-billionaires-philanthropy-ad9c1b67e2ca76eb2c107ec158a4640f\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>NEW YORK (AP) \u2014 Billionaire author and philanthropist MacKenzie Scott acknowledged another $2 billion in donations in a blog post on Wednesday, bringing the total she\u2019s given away since 2019 &hellip; <a href=\"https:\/\/hotvideos24.online\/?p=138668\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-138668","post","type-post","status-publish","format-standard","hentry","category-business","entry"],"_links":{"self":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/138668","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=138668"}],"version-history":[{"count":0,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/138668\/revisions"}],"wp:attachment":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=138668"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=138668"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=138668"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}