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"Some problems cannot be solved by grants of the size that foundations typically provide," John Palfrey, president of the Chicago-based MacArthur Foundation, says in a press release.
"By funding at a level far above what is typical in philanthropy, 100&Change addresses problems and supports solutions that are radically different in scale, scope, and complexity."
The foundation is now accepting applications for its third round of the $100 million competition, which is open to organizations and collaborations working in any field, anywhere in the world.
"We wanted to hear how they would solve a critical problem of our time," Palfrey says.
"As we begin this third round of the competition, we are excited to see where the next group of applicants will lead us and how they will bring about change in a lasting and meaningful way."
In the first two rounds of the competition, the foundation awarded $100 million each to Sesame Workshop and the International Rescue Committee to help educate Syrian children displaced by war.
Previous winners have included the Ahlan Simsim program, which reaches 27 million children in the Middle East and North Africa, the press release says.
In the second round, $100 million was awarded to Community Solutions to end homelessness in 75 US communities in five years.
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