Mackenzie Scott, the ex-wife of Amazon founder Jeff Bezos, has revolutionized philanthropy by giving away $19 billion in unrestricted gifts to over 2,000 nonprofits since 2019. The median gift size was around $5 million, allowing recipients to spend the funds as they saw fit.
Research from the Center for Effective Philanthropy (CEP) found that Scott’s approach has enabled nonprofits to become more financially stable and increase their impact. A three-year study surveyed 800 organizations that received gifts from Scott, revealing that:
– 90% of nonprofit heads said the grants strengthened their financial positions.
– Half reported that Scott’s gift made fundraising easier.
– Only 7% lost funders due to the grant.
Grant recipients used the funds to expand programming and observe meaningful change in communities. One organization expanded its meals service from 2.5 million people a day to 10 million, while another saw an increase in refugees receiving legal orientation and life-saving shelter.
Scott’s approach was rooted in her belief that those closest to the work are best positioned to identify needs. “I needn’t ask what to say or do for them; I can share what I have with them to stand behind them as they speak and act for themselves,” she said.
The study dispels concerns that large grants would make it difficult for groups to continue fundraising, instead revealing that Scott’s gifts attracted new contributions. The CEP report highlights the transformative impact of Scott’s unrestricted gifts on nonprofits and communities alike.
Source: https://www.cbsnews.com/news/mackenzie-scotts-large-unrestricted-gifts-have-transformed-non-profits-research-shows