Philanthropist MacKenzie Scott has made a historic contribution to Native community development financial institutions (CDFIs), awarding more than $103 million in unrestricted funding. This landmark investment is one of the largest single contributions to Native financial institutions and is set to create lasting impacts in Indigenous communities nationwide.
Thirty Native-led and Native-serving CDFIs received grants ranging from $1 million to $13 million, with the Citizen Potawatomi Community Development Corporation in Oklahoma receiving the largest disclosed grant at $13 million. These funds will be used to expand access to affordable housing, business loans, clean energy initiatives, and financial education in Native communities.
Scott’s approach allows Native CDFIs to strengthen their operations with unrestricted funding, empowering them to directly address community needs. “No one knows better how to build up Native communities than Native CDFIs,” said Pete Upton, CEO of Native CDFI Network. This support builds on Scott’s previous philanthropy, which has provided $132.5 million to Native-serving nonprofits since 2020.
This funding arrives in a philanthropic landscape where less than 0.5% of large foundation grants traditionally go to Native American nonprofits. Leaders like Ted Piccolo, a pioneer in Native CDFIs, called the scale and speed of Scott’s donation “unprecedented,” highlighting its potential to foster resilience and economic prosperity in Native communities.