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Yield Giving

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Yield Giving is an American foundation which is the primary philanthropic vehicle for MacKenzie Scott, the former wife of Amazon CEO Jeff Bezos.[1] The organization's name is based on her philosophy of adding value in her philanthoropy by giving up control to local organizations (localization).[2] The website was launched in December 2022.[3] At the time, Scott had donated approximately $14 billion to around 1,600 with $1 billion of the funds directed outside the United States.[3]

In March 2023, Scott launched Yield Giving by launching an "open call" for community-focused nonprofits with annual budgets between $1 and $5 million that she could fund.[4] Scott planned to make unrestricted $1 million donations to 250 nonprofits selected in the process.[5] Lever for Change announced that Scott's open call for grants prompted 6,000 applicants.[6] Scott donated nearly $2.2 billion in 2023 to 360 organizations supporting early learning, access to affordable housing, race and gender equity, health equity, and civic and social engagement.[7] As of December 2023, Scott had donated more than $16 billion to non-profit organizations.[8] On March 19, 2024, Yield Giving announced another $640 million donated to 361 small nonprofits, more than double what the original open call planned for.[9] 279 organizations received $2 million each while 82 were given $1 million each.[9][10] In March 2024, Scott's donations had reached $17.2 billion.[11][12]

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References

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  1. ^ Candid. "MacKenzie Scott's Yield Giving awards $640 million for open call". Philanthropy News Digest (PND). Retrieved 2024-09-21.
  2. ^ "Scott's Yield Giving Competition Awards $640 million". The NonProfit Times. Retrieved 2024-09-21.
  3. ^ a b "MacKenzie Scott Is Funding to Empower People Globally. Here's What We Know About Her Priorities | Inside Philanthropy". www.insidephilanthropy.com. 2023-01-05. Retrieved 2024-09-21.
  4. ^ Beaty, Thalia (March 21, 2024). "MacKenzie Scott donates $640 million, more than doubling her planned gifts to nonprofit applicants". The Associated Press. Archived from the original on March 21, 2024. Retrieved March 21, 2024.
  5. ^ Gamboa, Glenn (March 21, 2023). "MacKenzie Scott sets new 'open call' to donate $250 million". The Washington Post. Archived from the original on March 22, 2023. Retrieved March 24, 2023.
  6. ^ Beaty, Thalia; The Associated Press (July 19, 2023). "Billionaire philanthropist MacKenzie Scott sets off a frenzy for $1 million grants as over 6,000 applicants pour in for 250 slots". Fortune. Archived from the original on December 22, 2023. Retrieved December 22, 2023.
  7. ^ Liu, Phoebe (December 8, 2023). "MacKenzie Scott Has Donated $2.2 Billion To Charity This Year". Forbes. Archived from the original on December 11, 2023. Retrieved December 22, 2023.
  8. ^ Beaty, Thalia (December 7, 2023). "Philanthropist MacKenzie Scott reveals the groups that got some of her $2.1 billion in gifts in 2023". Associated Press. Archived from the original on January 16, 2024. Retrieved January 16, 2024.
  9. ^ a b Halpert, Madeline (March 21, 2024). "MacKenzie Scott donates $640m to US non-profits". BBC News. Archived from the original on March 21, 2024. Retrieved March 21, 2024.
  10. ^ Maruf, Ramishah (March 19, 2024). "MacKenzie Scott donates $640 million after open call for nonprofits". CNN Business. Archived from the original on March 21, 2024. Retrieved March 21, 2024.
  11. ^ Gavin, William (March 20, 2024). "Amazon co-founder MacKenzie Scott doubles her charitable donations after Elon Musk's criticism". Quartz. Archived from the original on March 20, 2024. Retrieved March 21, 2024.
  12. ^ "What is next for billionaire philanthropist MacKenzie Scott's giving?". AP News. 2024-04-04. Retrieved 2024-09-21.
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