Yield Giving Explained

Type:Foundation
Founded:July 2020 (first grants)December 2022 (foundation)
Founder:MacKenzie Scott
Area Served:Global

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 philanthropy by giving up control to local organizations (localization).[2]

The website was launched in December 2022.[3] At the time, Scott had already donated approximately $14 billion to around 1,600 with $1 billion of the funds directed outside the United States after her 2019 divorce.

In March 2023, Scott announced Yield Giving would launch 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. 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]

References

  1. Web site: Candid . MacKenzie Scott’s Yield Giving awards $640 million for open call . 2024-09-21 . Philanthropy News Digest (PND) . en.
  2. Web site: Scott's Yield Giving Competition Awards $640 million . 2024-09-21 . The NonProfit Times . en-US.
  3. Web site: 2023-01-05 . MacKenzie Scott Is Funding to Empower People Globally. Here’s What We Know About Her Priorities Inside Philanthropy . 2024-09-21 . www.insidephilanthropy.com . en-US.
  4. News: Beaty . Thalia . March 21, 2024 . MacKenzie Scott donates $640 million, more than doubling her planned gifts to nonprofit applicants . live . https://web.archive.org/web/20240321080845/https://apnews.com/article/mackenzie-scott-open-call-yield-giving-bezos-ae809a469080e9e61a945a14a230629e . March 21, 2024 . March 21, 2024 . The Associated Press.
  5. News: Gamboa . Glenn . March 21, 2023 . MacKenzie Scott sets new 'open call' to donate $250 million . live . https://archive.today/20230322173329/https://www.washingtonpost.com/business/2023/03/21/mackenzie-scott-open-call-philanthropy/ae8cfeb8-c7f1-11ed-9cc5-a58a4f6d84cd_story.html . March 22, 2023 . March 24, 2023 . The Washington Post.
  6. News: 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 . live . https://archive.today/20231222022509/https://fortune.com/2023/07/19/billionaire-philanthropist-mackenzie-scott-open-call-grants/amp/ . December 22, 2023 . December 22, 2023 . Fortune.
  7. Web site: Liu . Phoebe . December 8, 2023 . MacKenzie Scott Has Donated $2.2 Billion To Charity This Year . live . https://archive.today/20231211104026/https://www.forbes.com/sites/phoebeliu/2023/12/08/mackenzie-scott-has-donated-22-billion-to-charity-this-year/?sh=6a770485c143 . December 11, 2023 . December 22, 2023 . Forbes.
  8. Web site: Beaty . Thalia . December 7, 2023 . Philanthropist MacKenzie Scott reveals the groups that got some of her $2.1 billion in gifts in 2023 . live . https://web.archive.org/web/20240116131759/https://apnews.com/article/mackenzie-scott-donations-962490e92faab36492b7481205ec7249 . January 16, 2024 . January 16, 2024 . Associated Press.
  9. News: Halpert . Madeline . March 21, 2024 . MacKenzie Scott donates $640m to US non-profits . live . https://archive.today/20240321114553/https://www.bbc.com/news/world-us-canada-68609687 . March 21, 2024 . March 21, 2024 . BBC News.
  10. News: Maruf . Ramishah . March 19, 2024 . MacKenzie Scott donates $640 million after open call for nonprofits . live . https://web.archive.org/web/20240321082457/https://edition.cnn.com/2024/03/19/business/mackenzie-scott-donates-640-million-open-call/index.html . March 21, 2024 . March 21, 2024 . CNN Business.
  11. Web site: Gavin . William . March 20, 2024 . Amazon co-founder MacKenzie Scott doubles her charitable donations after Elon Musk's criticism . live . https://archive.today/20240320180714/https://qz.com/mackenzie-scott-amazon-donate-philanthropy-musk-critici-1851351886 . March 20, 2024 . March 21, 2024 . Quartz.
  12. Web site: 2024-04-04 . What is next for billionaire philanthropist MacKenzie Scott's giving? . 2024-09-21 . AP News . en.

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