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From: Philanthropy Today
Subject: The Election and Your Year-End Campaign
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In what could be a prelude to another huge batch of gifts, MacKenzie Scott sold Amazon shares worth billions of dollars in recent months, according to filings with the U.S. Securities and Exchange Commission. How much she cashed out depends on exactly when she sold the shares because of share price fluctuations, but if she sold the shares on the last day of the three-month reporting period, September 30, the proceeds would exceed $11 billion. Scott, whose net worth is estimated to be about $30 billion after the sale, has not announced specific plans for the money, but observers are expecting it to fuel “another big tranche of her giving,” says Kaky Grant, a principal at Grant Philanthropic Advisors in Charleston, S.C. (Barron’s— subscription)
Background from the Chronicle: The Ripple Effects of MacKenzie Scott’s Philanthropy
A gun control nonprofit could be the ultimate beneficiary of conspiracy theorist Alex Jones’ bankruptcy proceedings. Humor website The Onion put up the winning bid for Infowars, the media company that Jones founded, and announced that it would provide free advertising and sponsored articles to Everytown for Gun Safety, an anti-gun violence nonprofit that was seeded with $50 million from philanthropist Michael Bloomberg after the deadly 2012 mass shooting at Sandy Hook Elementary School in Connecticut. In 2022, Jones was ordered to pay families of Sandy Hook victims a total of about $1 billion for repeatedly claiming the shootings were a hoax. A judge has paused the final ruling on The Onion’s bankruptcy acquisition of Infowars to determine whether the bidding was transparent. (New York Times)
Background from the Chronicle: The New Gun-Control Movement
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Housing: The Home Depot Foundation’s Veteran Housing Grants program awards grants to nonprofit organizations for the new construction or rehabilitation of multifamily, permanent supportive housing for veterans throughout the United States, including Puerto Rico. The grants fund physical construction costs, and must comprise less than 50% of the total development cost of the project. Grants range from $100,000 to $500,000; application deadlines December 13, 2024, and March 21 and July 3, 2025.
Visual Arts: Teiger Foundation supports curator-led initiatives in the field of contemporary visual art in the United States. Supported initiatives may include group exhibitions, single-artist surveys, participatory and community-engaged art projects, digital exhibitions, live and virtual performance in the context of the visual arts, and as-yet-unknown curatorial forms involving contemporary visual art and artists. Curators affiliated with 501(c)(3) nonprofit institutions devoted to presenting visual art may apply. Grants vary by category up to $150,000; application deadline January 28, 2025.
