OFN has received a $25 million unrestricted grant from MacKenzie Scott.
Opportunity Finance Network (OFN) is thrilled to announce that we received a $25 million gift from philanthropist and author MacKenzie Scott.
OFN has laid out a clear set of priorities to support CDFIs over the next three years. These funds will help OFN accelerate this work and set the stage for future priorities.
Scott’s award to OFN is consistent with her history of giving to organizations that advance racial, social, and economic justice, including other CDFIs. OFN’s vision is to align justice and capital so that all can act in their best interest. This includes working in low-income and low-wealth communities that mainstream financial and other systems have often overlooked.
Scott quickly became well-known for her hands-off approach to philanthropy, and these unrestricted funds are OFN’s to use where and how we need to in support of our CDFI network.
“It is almost a cliché to refer to this gift as ‘transformational,’ but it is no less true. Unrestricted grants are the gold standard in philanthropy, and we are thrilled to be among the recipients of MacKenzie Scott’s generosity,” said Beth Lipson, interim president and CEO of OFN. “The past several years have brought the CDFI industry to an inflection point, and at no other time have we been better positioned for growth and greater impact than we are today. With this remarkable gift, OFN is strengthened to think even more boldly about the future — and to act.”
Over the coming months and years, we look forward to sharing with our members and community partners how this gift supports OFN’s priorities and goals.