Yield Giving's first round of donations is more than double what Scott had initially pledged to give away through the application process.
Billionaire philanthropist and author MacKenzie Scott announced Tuesday she is giving $640 million to 361 small nonprofits that responded to an open call for applications. Several nonprofits in theis more than double what Scott had initially pledged to give away through the application process. Since she began giving away billions in 2019, Scott and her team have researched and selected organizations without an application process and provided them with large, unrestricted gifts.
"One of the best things about prize philanthropy is that it surfaces people and organizations and institutions that otherwise wouldn't have access to the people in the power centers and the funding," she said. Her organization also advises funders who run competitive grants or philanthropic prize competitions to phase the application to diminish the burden of applying on any organization that is eliminated early.
Her organization has won lawsuits recently around access to emergency contraception and the rights of trans youth to play sports. They plan to use the funds to expand their work into North Dakota. Peterson said the funds must be used for tax exempt purposes but otherwise come with no restrictions or reporting requirements - just like Scott's previous grants.
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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