Megadonor MacKenzie Scott has blessed the bank accounts of the Seattle-based nonprofit Craft3 yet again with a generous $15 million gift on Wednesday. As is the case with most of her tales of benevolence, Craft3 received its largest unrestricted gift ever. This windfall will aid Craft3 in working with borrowers who are unable to qualify for bank financing / funding and entrepreneurship training. Craft3 has offices in Astoria and Portland, and provides loans to underserved small businesses as well as technical assistance to companies and support for homeowners.
“We look forward to leveraging this support, along with what we gratefully receive from many other sources, all important regardless of size, to better serve communities across Oregon and Washington,” Craft3’s interim CEO, Bruce Brooks, said in a statement.
According to a post on X (formerly Twitter) by the nonprofit, they have approximately 150 funders backing their initiatives in 2024. However, the $15 million gift, made through Scott’s charitable organization Yield Giving, stands as their most significant contribution yet. This infusion of funds is expected to play a pivotal role in advancing Craft3’s mission of fostering a thriving, equitable, and empowered Pacific Northwest.
This is not Scott’s first act of generosity toward Craft3; in 2020, she donated $10 million, which the nonprofit leveraged along with other philanthropic contributions, grants, and bank funds to issue an impressive $200 million in loans. Founded in 1994, Craft3 boasts a selfless team of 84 people, issued 2,000 commercial loans, and nearly 10,000 consumer loans to homeowners.
This news comes on the heels of recent reports that the ex-wife of Amazon co-founder Jeff Bezos sold $8 billion of Amazon shares to fund charities and non-profits nationwide. In 2023, the author unloaded a whopping 65 million Amazon shares worth over $10 billion, and by the looks of it, the philanthropist is in no mood to slow down.
