IDIS – the Institute for the Development of Social Investment – has received a donation of $1.5 million, equivalent to R$7.5 million, from American philanthropist MacKenzie Scott.

The gift received will be the first contribution to IDIS Endowment, which is being stablished on the year the Institute celebrates its 25th anniversary. The mechanism aims to contribute to the organization’s sustainability and shall provide greater predictability for investments in projects to strengthen strategic philanthropy and the culture of giving in Brazil, including advocacy initiatives for a favorable regulatory environment and knowledge contents.

“The endowment will provide perpetual source of funding, which will be used to expand our efforts to strengthen strategic philanthropy in the country, as it provides us with greater long-term stability. It’s a recognition of the relevance of IDIS and the potential we have to generate even more positive impact,” explains Paula Fabiani, CEO of IDIS.

 

Ranked as the fifth richest woman in the world, the philanthropist is a signatory of the Giving Pledge. This commitment encourages people and families with substantial wealth worldwide to contribute a significant portion of their wealth to social causes and publicly pledged to donate at least 50% of her wealth during her lifetime. In Brazil, Elie Horn, founder of Cyrella, and the Latin American couple, David Vélez, co-founder of the digital bank Nubank, and his wife, entrepreneur Mariel Reyes, are also signatories of the commitment.