Additional Coverage:
Billionaire philanthropist MacKenzie Scott has announced a further $2 billion in donations, bringing her total giving since 2019 to an astonishing $19.2 billion.
Scott has a unique approach to managing her wealth. Instead of withdrawing funds from her bank account or stock portfolio, she invests them in “mission-aligned ventures” that support her philanthropic goals.
Unlike traditional donors, Scott provides large grants with no strings attached, empowering nonprofits to use the funds as they see fit. This “trust-based philanthropy” has had a transformative impact on the nonprofit sector.
In 2024, Scott surprised some organizations by awarding repeat donations. Enterprise Community Partners, an affordable housing organization, received a second major grant of $65 million, bringing their total funding from Scott to $115 million.
Scott’s recent grants were awarded through an open application process, with over 6,300 nonprofits applying. She awarded more money to more organizations than initially promised, committing $640 million to over 360 groups.
The unrestricted nature of Scott’s grants is particularly valuable to nonprofits, allowing them to use the funds to further their charitable missions without limitations. Her giving has had a significant impact on entire sectors, such as affordable housing.