Jan 22MacKenzie Scott Gifts $25 Million Through Yield Giving Foundation
DENVER, CO — Mercy Housing announced today that MacKenzie Scott through the Yield Giving Foundation has gifted $25 million to support their impactful work serving families, seniors, and veterans with low incomes across the country. This transformational donation will help further Mercy Housing’s vision of creating affordable homes and inspiring dreams as they work with residents and partners to establish engaged, strong, and inclusive communities.
“We deeply appreciate MacKenzie Scott’s generous gift and profound commitment to affordable housing and social justice resulting in a healthier, more equitable society. Positive change doesn’t happen without crucial support, and we are honored by this investment that recognizes Mercy Housing’s forty-plus years of work. Affordable housing is key to promoting equality by addressing basic needs and creating opportunities for communities to thrive. We are inspired to dig deeper and drive larger impact.,” said President and CEO Ismael Guerrero.
An innovative leader, a creative partner, and a collaborator in building and providing affordable housing to those most in need, Mercy Housing was established in 1981 by the Sisters of Mercy. As part of their work, Mercy Housing also preserves, finances, and manages affordable housing communities across 21 states. The organization provides essential program-enriched services to support the tens of thousands of residents to help them achieve stability and overcome barriers including, financial literacy classes, health and wellness programs, career assistance, and youth development.
“There is a shortage of over seven million affordable rental homes available to households with low incomes in the United States,” Guerrero noted. “As an organization that works to advance the opportunities of people in underserved communities, we are grateful to receive this gift from Ms. Scott.” This discretionary gift coincides with the launch of Mercy Housing’s new 2024 – 2026 strategic business plan, which will guide how the funds are used. To advance the most pressing priorities for long-term organizational resiliency and greater impact, Mercy Housing will invest in a growth opportunity fund, future opportunity trust, a recently established endowment, and its workforce.
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