MacKenzie Scott has married a science teacher at the school her children attend in Seattle and signed the Giving Pledge, promising to devote the majority of her wealth to giving back
IN JUNE 2020, Jorge Valencia, executive director of the Point Foundation, began receiving calls and emails from consultants doing due diligence on his organisation, which helps lesbian, gay, bisexual, transgender and queer students into higher education. They wanted financial statements and asked probing questions about how the group was responding to the pandemic. For a nonprofit organisation that relies on donations, it was nothing out of the ordinary.
married a science teacher at the school her children attend in Seattle and signed the Giving Pledge, promising to devote the majority of her wealth to giving back. Her only comments on her philanthropy so far are contained in three short blog posts littered with references to poetry by Rumi and Emily Dickinson.
The first big decision rich people make when they decide to give money away is who to give it to. Here, Ms Scott has relied on outside advisers, including The second step is deciding how to dish out money. Here, Ms Scott’s decision to make unrestricted grants is particularly popular with beneficiaries. The leaders of nonprofit organisations have long grumbled that donors too often tie money to specific projects, leaving them struggling to finance day-to-day operations. One-third of groups that received funds from Ms Scott are using the money to hire more people and over a fifth plan to invest in technology, according to the Bloomberg poll.
None of this is to say that Ms Scott has found some magic formula for responsible philanthropy. In pursuit of discretion, she forgoes transparency. She has kept her advisers secret, so nonprofit leaders eager to get on her radar have no way to contact her, aside from commenting on her blog. There are so many con artists pretending to dole out cash on her behalf that Ms Scott’s Twitter bio directs victims to a Federal Bureau of Investigation complaints page.
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