Lucky Recipient of $10M from MacKenzie Scott Was Shocked by 'Transformative' Donation: 'Out of the Blue'

Mar. 15, 2025

MacKenzie Scott, who made a $10 million donation to Access to Capital for Entrepreneurs (ACE) in late August 2024.Photo: Michael Kovac/Getty

Grace Fricks, founder and CEO of ACE, said in a statement that she was presented with the generous donation during a special phone call with one of Scott’s representatives.

Speaking withThe Atlanta Business Chronicle, Fricks said the phone call from Scott’s foundation came “completely out of the blue.”

In a statement, Frick said she hopes the funds will “propel ACE to the next level” nearly 25 years after it was launched.

“This is a testament to the social impact of the work ACE does, and does well,” added Fricks, who is retiring at the end of the year, according to theChronicle.

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The $10 million donated to ACE was “immediately” made available to help ACE execute its five-year strategic plan — which includes lending $300 million to 1,500 small businesses in Georgia and providing more than 100,000 hours of business advisory services.

“We’re proud of the accomplishments of each of our clients — the more than 2,600 small business owners across Georgia who’ve received ACE’s affordable loans — and grateful for this recognition of the ACE team’s hard work,” Frick said in her statement.

ACE did not immediately respond to PEOPLE’s request for comment.

This is the second time Scott has donated to ACE. In 2020, Scott donated $5 million to the organization.

ACE did not apply for the grant it received from Scott, who began awarding grants in 2019 following her divorce from Amazon founderJeff Bezos, according to theChronicle.

In March, Scott announced she had given away$640 millionto 361 nonprofits from a pool of more than 6,000 applicants.

In a post on herYield Givingwebsite, Scott said each of the selected community-led nonprofits received grants “for their outstanding work advancing the voices and opportunities of individuals and families of meager or modest means, and groups who have met with discrimination and other systemic obstacles.”

Scott also said she was grateful to “everyone on the evaluation and implementation teams for their roles in creating this pathway to support for people working to improve access to foundational resources in their communities,” describing them as “vital agents of change.”

source: people.com