MacKenzie Scott Donates $42M to Support First-Gen Learners at 10,000 Degrees
MacKenzie Scott, the renowned philanthropist and former wife of Jeff Bezos, has made headlines for her latest charitable act. She, alongside Yield Giving, has donated $42 million to 10,000 Degrees, a nonprofit organization based in San Rafael. This donation marks the largest contribution in the organization’s 45-year history.
Support for First-Generation Learners
The $42 million donation is aimed at supporting first-generation and low-income students. Many of these beneficiaries are students of color, highlighting Scott’s commitment to diversity, equity, and inclusion (DEI) in education. Her strategic focus on these demographics underscores a broader trend towards enhancing opportunities for underrepresented learners.
Reinforcing Commitment to DEI
Scott’s philanthropic efforts come at a time when funding for DEI initiatives is retracting in some sectors. Despite this trend, Scott continues to champion education equity. Her substantial contributions also include funding for Native Forward, the largest scholarship provider for Native students in the United States. These actions illustrate her dedication to sustaining and advancing equity-centered initiatives.
Transformative Donations and Strategies
- In 2023, Scott donated $70 million to UNCF to bolster endowments at 37 historically Black colleges and universities (HBCUs).
- Her approach is characterized by quick and unrestricted funding, allowing organizations to allocate resources where they are most needed.
- Over the past five years, she has donated more than $19 billion across various sectors including education, healthcare, and housing.
Her funding strategy focuses on speed and scale, prioritizing organizations that emphasize equity. Scott typically provides flexible capital through her grants, enabling nonprofits to respond quickly to the needs of underrepresented learners.
Future of Philanthropy
Looking ahead, MacKenzie Scott is likely to continue her trust-based funding model. This strategy involves repeat donations to organizations committed to fostering equity and strengthening endowments, particularly for HBCUs and scholarship programs targeted at underserved students.
Scott’s history of transformative giving signifies an ongoing momentum in her philanthropic journey. By channeling funds into mission-driven organizations, she aims to close gaps in educational equity and create sustainable resources for future generations.
