In a sweeping act of philanthropy, billionaire MacKenzie Scott has donated a hefty $9 million to various Nashville nonprofits, as part of a larger gesture that injects $640 million into organizations across the nation. Nashville's windfall is just the latest in a series of donations by Scott, who has been on a giving spree since acquiring a significant fortune after her divorce from Amazon founder Jeff Bezos. Previously, Meharry Medical College and United Way of Greater Nashville have been among the local beneficiaries of Scott's giving, receiving $20 million each in 2022 and December 2020, respectively, as reported by the Nashville Business Journal.
This recent distribution of funds is part of Scott's commitment to support organizations working to reduce disparities in economic outcomes, education, health, and other pivotal societal challenges. The Yield Giving open call, overseen by Lever for Change, initially anticipated handing out 250 awards of $1 million each, but the response was so overwhelming that they expanded the number to 279 organizations, each receiving $2 million, according to 6ABC. An another 82 organizations scored the second tier, each securing $1 million.
Scott's generosity has been nothing short of transformational for the selected organizations. With a total of $16.5 billion given away from her personal wealth, she has made a significant impact across a broad spectrum of charities and causes. Scott detailed the rationale behind her donations in an essay accompanying the launch of a database of her philanthropy under the umbrella of Yield Giving in December 2022, saying, "Information from other people - other givers, my team, the nonprofit teams I've been giving to - has been enormously helpful to me. If more information about these gifts can be helpful to anyone, I want to share it," as 6ABC reported.
The reaction to Scott's method and transparency in her philanthropic initiatives has been positive. Sector experts, like Smith Arrillaga of CEP, highlighted the importance of Scott's approach: "continuing to honor her commitment in terms of giving away her wealth, even though she's thinking, changing and tweaking the 'how' of how it's done and she's still trying to go with the spirit of what she committed to," according to 6ABC. Scott ensures her giving not only follows the letter of her pledge but also the intent, focusing on fostering substantive change rather than merely making a gesture.
As the wave of her philanthropic efforts continue to roll out across the country, Scott has ensured that her wealth serves as a catalyst for positive change, setting a new bar for transparent and impact-focused giving. The beneficiaries of these funds have hailed from 38 states, Washington, D.C., and Puerto Rico, proving that this billionaire donor's reach is as wide-ranging as the societal issues she aims to tackle. According to the Star-Advertiser, such expansive and thoughtful giving marks a high point in an era of unprecedented wealth accumulation and philanthropic potential.
