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MacKenzie Scott Makes Significant Donation to Affordable Housing Initiative
Billionaire philanthropist MacKenzie Scott recently made headlines with her generous contribution of $65 million to Enterprise Community Partners, a national nonprofit organization based in Maryland dedicated to combating the pressing issue of affordable housing in the United States.
The unexpected donation has left representatives of the organization pleasantly surprised. “Some of us probably wanted to cry for joy,” expressed Janine Lind, president of Enterprise’s community development division, in a statement to the Baltimore Banner. She emphasized the timing of the donation, noting that the affordable housing sector is currently facing significant challenges.
This donation marks Scott’s second major contribution to the 42-year-old nonprofit, following an earlier gift of $50 million in 2020. According to a recent press release, this latest financial support is recognized as “one of the largest reported gifts to an affordable housing organization.”
“Housing affordability is on the national radar in a way that it’s never been in my three decades of work in this field,” stated Shaun Donovan, CEO and President of Enterprise Community Partners. He illustrated the growing bipartisan consensus regarding the necessity to tackle this crisis and highlighted that Scott’s ongoing support underscores the mission of Enterprise. Donovan affirmed that the new funding will empower the organization to enhance its efforts in delivering community-driven and sustainable housing solutions to those in need.
MacKenzie Scott, known for her pivotal role in founding Amazon alongside her former husband Jeff Bezos, retains a significant stake in the company, holding approximately 1.3% of its shares as per a November 2024 SEC filing. Her net worth is estimated to be around $41.3 billion, as reported by Bloomberg.
In addition to her recent donation to Enterprise Community Partners, Scott has made waves in philanthropy in previous years. In 2022, she contributed two Beverly Hills properties valued at $55 million to the California Community Foundation, aimed at bolstering affordable housing and immigrant integration efforts. That same year, Scott also extended her philanthropic reach by donating $84.5 million to the Girl Scouts of the USA.
As philanthropic initiatives continue to gain momentum, Scott’s impactful giving serves as a potent reminder of the role private donations play in addressing critical social challenges.
Related: Melinda French Gates Announces Open Call for $250 Million Fund. Here’s Who Can Apply.
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