MacKenzie Scott’s $9M Gift Boosts Entrepreneur Fund’s Small Business Support

In a transformative moment for small businesses across Minnesota and Wisconsin, the Entrepreneur Fund (EFund), a nonprofit based in Duluth, has received an extraordinary million gift from MacKenzie Scott’s philanthropic organization, Yield Giving.

This content originally appeared in Duluth News Tribune.

This unrestricted donation, received on September 5, 2024, is part of Yield Giving’s “Quiet Research” process, in which organizations are selected without the need for applications or solicitations.

This generous contribution marks a significant milestone for EFund, enabling the nonprofit to enhance its mission of supporting local entrepreneurs. From 2021 to 2023, EFund served over 3,400 entrepreneurs and provided nearly $74 million in loans. Now, with this new financial backing, CEO Shawn Wellnitz sees even greater potential, calling the donation a “game changer” for advancing key priorities like business succession and growth.

MacKenzie Scott’s gift to EFund is part of her broader philanthropic mission, through which she has donated over $17 billion to more than 2,300 nonprofit organizations, underscoring her commitment to making a lasting impact.

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