Giving Compass' Take:
- Akil Bello highlights the efforts of MacKenzie Scott and other philanthropists who are forgoing traditional modes of higher education philanthropy in favor of focusing on equity.
- Bello emphasizes both which organizations these philanthropists chose to support and how they choose to give their support. Can your giving approach be improved?
- Find out why funders often hurt the nonprofits they are trying to help.
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MacKenzie Scott, author and the first accountant at Amazon, is leading a new wave of individual social impact philanthropy. Late in 2020, she announced her latest round of almost $6 billion in charitable gifts, bringing to more than $800 million her total donations to higher education in just one year. The unprecedented scale and pace of her giving isn’t the most impressive part of her actions. Her donations are data-driven and promote the public good rather than simply personal preference or self-interest.
She wrote, "We do this research and deeper diligence not only to identify organizations with high potential for impact, but also to pave the way for unsolicited and unexpected gifts given with full trust and no strings attached."
Unlike typical highly publicized donations, none of Scott’s university gifts went to institutions that could be considered wealthy or prestigious. Representing a scale of giving these institutions don’t normally receive, the donations will be a driver of economic growth and social mobility for students who will benefit the most from the infusion of funding.
Read the full article about higher education philanthropy by Akil Bello at Forbes.