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MCT receives $6M donation from MacKenzie Scott
The Micronesia Conservation Trust, along with hundreds of other organizations around the world, has received a $6 million unrestricted grant award from philanthropist MacKenzie Scott, the former wife of Amazon.com founder Jeff Bezos.
Scott made the announcement on her blogpost, Medium, on March 23, 2022. Many media stories have reported that Scott has donated $3.8 billion to 465 charities since June.
An MCT news release yesterday stated that the MCT board of trustees has authorized the creation of a Reserves Fund with the $6 million gift from Scott. The purposes of the Reserves Fund include: providing a long-term source of funds to meet unforeseen financial needs; providing a long-term source of funds for capital improvement projects; and funding, annually, partner proposals in accordance with locally determined priorities.
“This amazing and transformational gift will allow MCT to do the things we have not been able to do consistently (e.g., our own annual call for proposals, staff capacity development, just-in-time grants to support quick and innovative programs, and maybe even our own MCT building so we won’t have to continue to pay rent),” said MCT executive director William Kostka. “This gift is testament to the hard work of our board and staff over the years, as well as that of our partners. The board and staff, and all the communities we serve across Micronesia convey our sincerest gratitude to Ms. Scott and her amazing team.”
The MCT board and management plan to invest the award immediately and spend the remainder of 2022 completing its updated Strategy and Action Plan (2022-2027) and developing budgets, as well as policies and procedures to govern the Reserves Fund and the use of the revenues it will generate. This will ensure that MCT is positioned to deliver improved programs to stakeholders and communities across Micronesia. (PR/Saipan Tribune)
