The billionaire mentioned that COVID-19 is “a wrecking ball for Americans who are already struggling”.
4 min read
- Scott asked a team of advisors to help accelerate his 2020 donations with immediate assistance to people financially harmed by the pandemic.
- A total of 384 organizations in 50 states, Puerto Rico, and Washington DC will be sharing gifts valued at $ 4,158,500,000, including food banks, emergency funds, and support services for the most vulnerable.
Billionaire philanthropist and American author MacKenzie Scott announced their donations to total 384 non-profit organizations in the past four months Fulfilling a promise made last year to help those hardest hit by the coronavirus pandemic.
Scott made his known Pandemic Philanthropy through the platform medium, this Tuesday as reported The Seattle Times. “Both the economic losses and the health effects were worse for women, people of color and people living in poverty,” she added. “In contrast – the pandemic – has allowed billionaires to grow their wealth dramatically,” he said.
In the meantime be Ex-husband Jeff Bezos, chief Executive Officer from Amazon, During the pandemic, his net worth grew up to $ 13,000 million in a single day in profits reaching up to $ 200,000 million.
After Scott donated $ 1.68 billion to 116 nonprofits, including universities, community development groups, and legal organizations, last July, Scott asked a team of advisors to help expedite his 2020 donations with immediate assistance. to people who have been financially damaged by the pandemic.
Image: Mackenzie Scott via Twitter.
He stated that the team took a data-driven approach, identifying organizations with strong leadership and results, particularly in communities with high food insecurity, racial inequality and poverty rates, and “low access to philanthropic capital.”
6,490 organizations were created, 822 were invested, and 438 were put on hold “for now” to learn more about their impact, management, and dealings with workers or members of the community.
Total, 384 organizations in 50 states, Puerto Rico and Washington DC share $ 4,158,500,000 Gifts include food banks, emergency funds, and support services for the most vulnerable. Other organizations address the “systematic long-term inequalities exacerbated by the crisis” such as debt relief, professional training, credit and financial services for low-income communities, and education for historically marginalized and underserved people. These funds will also be used to support legal protection funds that “accept institutional discrimination”.
The organization of the state Washington Craft3, a Community Development Finance Institution (CDFI) focused on investing in businesses owned by black people, including black and indigenous owners, received $ 10 million. It is one of several CDFI nationwide this receives an investment of Scott.
“We are incredibly honored to be recognized for this unparalleled gift. The Community development finance institutions are the avant-garde inclusive and fair financing in the US“He mentioned Adam Zimmerman, President and CEO of Craft3, by a statement.
Scott realized it was him “Far from being complete” her promise to donate and urged others to follow her example in every possible way: time, a voice, or money.