MacKenzie Scott, known for her discreet approach to philanthropy, has donated $10 million to Access to Capital for Entrepreneurs (ACE), a nonprofit based in Cleveland, Georgia, Fortune reports.
Despite the magnitude of the donation, the email notification of the gift was initially mistaken for spam by an ACE employee, according to the organization’s president and CEO, Grace Fricks. This donation is the largest ACE has ever received.
ACE, a Community Development Financial Institution, provides loans and business advisory services, particularly for women, people of color, and individuals with low to moderate incomes. Scott had previously donated $5 million to the organization in 2020.
The $10 million donation came as a surprise.
“It was completely out of the blue,” Fricks told The Atlanta Journal-Constitution.
She initially thought Scott’s team was reaching out for a story on the impact of a previous donation.
Scott, the ex-wife of Amazon founder Jeff Bezos, has quietly donated $17.3 billion to over 2,300 nonprofit organizations since 2019, while still retaining an estimated $34 billion fortune. Her gifts, which focus on equity, education, and economic opportunity, are often revealed by the recipients rather than through public announcements by Scott herself.
The unrestricted donation comes at a crucial time for ACE, which is in the second year of a five-year strategic plan aimed at providing $300 million in loans to underserved small business owners. Fricks expressed gratitude, noting that the funds would help the organization achieve its goals and provide essential business consulting services.
