The billionaire philanthropist and author MacKenzie Scott announced Tuesday she would give $640 million to more than 360 organizations in response to an application process she launched last year.
FILE - Billionaire philanthropist MacKenzie Scott arrives at the Vanity Fair Oscar Party, March 4, 2018, in Beverly Hills, Calif. Scott announced Tuesday, March 19, 2024 she would give $640 million to more than 360 organizations in response to an application process she launched last year. The award is more than double the amount that she initially promised in an open call for applications. to 250 organizations last year through an “open call” for applications.
The 279 nonprofits that received top scores from an external review panel were awarded $2 million, while 82 organizations in a second tier received $1 million each. The “open call” asked for applications from nonprofits who are community-led with missions “to advance the voices and opportunities of individuals and families of meager or modest means,” Yield Giving said on its website. Only nonprofits with annual budgets between $1 and $5 million were eligible to apply.
The awardees were selected through a multilayer process, where applicants scored fellow applicants and then the top organizations were reviewed by a panel of outside experts.
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