Share on FacebookIn a stunning announcement, MacKenzie Scott has generously decided to donate $640 million to 361 small nonprofits that are working hard to make a difference in their communities. She is the co-founder of Amazon and isn’t slowing down here giving.
This exciting initiative comes from Scott's Yield Giving, which opened its doors to applications for the first time. It allowed organizations to directly request funding from the Yield Giving.
This amount is a significant increase from what was initially expected. It shows Scott's commitment to supporting grassroots efforts that aim to enhance basic services and resources for other people. A staggering 6,353 nonprofits jumped at the chance to apply, eager for the opportunity to receive funds that could greatly expand their impact.
Out of all of these applications, 279 top-rated nonprofits by an external review panel will receive $2 million each. Another 82 groups also did exceptionally well and will get $1 million each to push their missions forward.
This funding process, which invited applications from groups led by the community itself, aimed to empower organizations that typically might not have easy access to such large sums of money.
These nonprofits focus on various important causes, such as advancing the rights and opportunities of less privileged individuals and families. They often operate on tight budgets of $1 to $5 million per year, making this financial boost a game-changer.
MacKenzie Scott has already distributed $16.5 billion of her fortune to other people. She hopes that sharing information about her philanthropic efforts will inspire others to give back and help people in need.
Some people think that they need to have a lot of money to help other people but your time, energy, and attention are some of the best ways to give.
