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December 17, 2008

News Briefing: Obama’s $10 Billion Promise Stirs Hope in Early Education

  • After 146 years, the Sisters of Mercy close down the Convent of Mercy in Brooklyn due to structural and accessibility problems.  [New York Times]

  • Yale's endowment drops 25% due to the recession, prompting the delay of construction projects on campus.  [Associated Press]

  • The LeBron James Family Foundation cuts some of its staff.  [Associated Press]

  • Barack Obama's interest in early education sparks hope in charities and philanthropies working to educate and care for the very young.  [New York Times]

  • The Toys for Tots program receives more requests for toys than ever.  [Washington Post]

  • Steven Spielberg, Eric Roth, and Jeffrey Katzenberg are among those who suffered losses in Madoff's fraud.  [Los Angeles Times]

Posted at 10:29 AM in Celebrities, Children, Education, Finance | | Comments (0) | TrackBack (0)

December 11, 2008

News Briefing: Princeton Settles Money Battle Over Gift

  • Princeton reaches a settlement with heirs to the A&P grocery fortune over a gift donated in 1961.  [New York Times]
  • Frank Batten donates up to $70 million to Culver Academies, the military boarding school he attended in Indiana.  [The Virginian-Pilot]
  • Wealthy families use mission statements to set goals in their family foundations.  [Wall Street Journal]
  • National Public Radio is cutting 7% of its work force due to an unexpected revenue shortfall.  [New York Times]

Posted at 09:46 AM in Arts, Education, Foundations | | Comments (0) | TrackBack (0)

December 10, 2008

News Briefing: From Canned Goods to Fresh, Food Banks Adapt

  • Food banks are no longer simply the domain of canned corn and peanut butter, offering ready-to-eat meals, fresh produce, and social services.  [New York Times]
  • Thomas Menino, Mayor of Boston, forms a task force to negotiate ways in which nonprofit universities and hospitals increase their payments in lieu of taxes.  [Boston Globe]
  • The Baltimore Opera Company files for bankruptcy.  [Baltimore Sun]

Posted at 10:59 AM in Arts, Education, Foundations | | Comments (0) | TrackBack (0)

December 09, 2008

News Briefing: Gates Grants Aim to Help Low-Income Students Finish College

  • Clara Miller, President and Chief Executive of Nonprofit Finance Fund, urges nonprofits to tame their impulses to do more in the current economy.  [Financial Times]

  • The Bill and Melinda Gates Foundation announces $70 million in grants as part of an ambitious initiative to double the number of low-income students who earn a college degree by age 26.  [New York Times]


  • The Gates Foundation ensures media coverage of global health issues by supporting news organizations.  [New York Times]

Posted at 10:50 AM in Africa, Education, Gates, Healthcare | | Comments (0) | TrackBack (0)

December 04, 2008

News Briefing: Bill Gates Prods Washington on Foreign Aid, Education

  • Bill Gates urges lawmakers and the Obama administration to maintain U.S. investments in foreign-aid and education initiatives.  [Wall Street Journal]
  • Harvard announces a 22% drop in its endowment in an interim report.  [New York Times]
  • The ascension of Philip J. Smith and Robert E. Wankel to the top of the Shubert Organization last week ends a 20-year guessing game.  [New York Times]
  • Earl Stafford, a businessman in Virginia, buys a $1 million inauguration hotel package so that people in need can attend.  [Los Angeles Times]

Posted at 10:07 AM in Arts, Education, Gates | | Comments (0) | TrackBack (0)

December 03, 2008

News Briefing: College May Become Unaffordable for Most in U.S.

  • Clinton's conference in Hong Kong results in pledges to charities worth $185 million.  [Associated Press]

  • Harvard University says its endowment has dropped $8 billion in the last four months.  [Associated Press]

  • The rising cost of college threatens to put higher education out of reach for most Americans, according to a new report.  [New York Times]

  • JPMorgan Chase will match Washington Mutual's 2008 level of corporate philanthropy in Washington state in the coming year.  [Seattle Post-Intelligencer]

  • Despite a drop in assets, the Weinberg Foundation distributes a record $100 million in grants to nonprofits.  [Baltimore Sun]


  • Philip J. Smith is named chairman of the Shubert Organization and the Shubert Foundation, replacing his longtime friend Gerald Schoenfeld, who died last week.  [New York Times]

Posted at 10:02 AM in Arts, Clinton Global Initiative, Education, Foundations | | Comments (0) | TrackBack (0)

December 02, 2008

News Briefing: Rescuing a Landmark From Time and the Elements

  • The original workroom of Gertrude Vanderbilt Whitney is in such disrepair that it has been suspended from public tours.  [New York Times]
  • Some philanthropic gropus have hundreds of gift opportunities this holiday season that are designed to save and enrich lives.  [USA Today]
  • Higher education becomes a global commodity, as universities worldwide compete for the same pool of well-qualified students.  [New York Times]

Posted at 09:39 AM in Arts, Education | | Comments (0) | TrackBack (0)

November 26, 2008

News Briefing: Big Players Scale Back Charitable Donations

  • Some of the country's universities try to sell pieces of their portfolios privately.  [New York Times]
  • A new study by Harvard researchers estimates that the South African government would have prevented thousands of deaths if it had provided antiretroviral drugs to AIDS patients.  [New York Times]
  • Nearly 100,000 people in eastern Congo receive aid from the U.N. Children's Fund.  [Associated Press]
  • Roger Clemens is asked to end his involvement with a charity golf tournament as his reputation continues to suffer from the Mitchell Report.  [Associated Press]
  • Even the titans of philanthropy - including the Gates Foundation, David Koch, and Sheldon Adelson - are rattled by current economic conditions.  [Wall Street Journal]

Posted at 10:32 AM in Africa, Education, Fundraising, Science | | Comments (0) | TrackBack (0)

November 24, 2008

News Briefing: New Way To Rate Charities Sought

  • Eli Broad offers $30 million to help rescue the Museum of Contemporary Art if the museum's trustees also increase their donations.  [New York Times]
  • Several of the country's highest-paid university presidents announce that they will give back part of their pay or forgo their raises.  [New York Times]
  • Jurors begin eighth day of deliberations in the retrial of the Holy Land Foundation for Relief and Development.  [Associated Press]
  • Majority of wealthy households who stop giving to nonprofits attribute the change to 'no longer feeling connected to the organization."  [Boston Globe]
  • An alliance of prominent philanthropists and entrepreneurs is developing a rating system to help donors better evaluate charities.  [Washington Post]

Posted at 10:06 AM in Accountability, Arts, Education, Terrorism | | Comments (0) | TrackBack (0)

November 17, 2008

News Briefing: College Leaders' Salaries Climb

  • As families face difficulties in sending their children to college, the pay increases for chief executives at universities is raising concern.  [Washington Post]

  • University of Texas to lay off 3,800 people from the medical center in Galveston Island.  [New York Times]

  • As much as people might like to sit still until their finances feel stable again, many nonprofits need support now.  [New York Times]

Posted at 10:02 AM in Education, Fundraising, Healthcare | | Comments (0) | TrackBack (0)

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