Charity Highlights Slipping Endowments at U.K. Universities
Except for Oxford and Cambridge, British institutions of higher learning have seen their endowments shrink in real terms in recent years while the value of their American peers’ investments grew, the Financial Times writes, citing new research by a U.K. trust that promotes educational investment to increase social mobility.
Spanish Princess Charged in Probe of Sports Foundation
A Palma-based judge charged Princess Cristina with tax fraud and money laundering Wednesday in connection with a long-running investigation of alleged corruption involving her husband’s athletic charity, writes The New York Times.
Why ‘Fail Fast’ Isn’t the Right Approach for Philanthropy
To achieve substantive social change, philanthropy must be focused on long-term goals and not immediate outcomes, says the president of the Surdna Foundation.
By HILDY GOTTLIEB
Contributor
As Children Spill Over Border, Nonprofits Respond
Organizations working to feed and house the flood of immigrants say they are working long days, and they fear the problem will worsen.
By Megan O’Neil
Contributor
Corporate, Philanthropic Leaders Pledge $1.5-Billion in Impact Investments
More than 20 private-sector investors have committed to $1.5-billion in new investments designed to deliver positive social and environmental impact, in addition to profit, according to the White House.
U.S. Archivist: IRS Skirted Law on Disclosing Email Snafu
David Ferriero, head of the National Archives and Records Administration, told a congressional committee Tuesday that the Internal Revenue Service did not follow legal procedure in failing to notify his office about the loss of emails to and from Lois Lerner, the Associated Press reports.
N.Y. Professor Claims College Spurned $10-Million Koch Gift
A veteran Brooklyn College professor says the City University of New York branch turned down a $10-million grant from Charles and David Koch because of the billionaire brothers’ conservative politics, according to the New York Post.
George Lucas Picks Chicago for Museum Site
The billionaire moviemaker spurned a bid from San Francisco and accepted a site proposed by Chicago officials for a museum to house his collection of movie memorabilia and populist art, the Chicago Tribune reports.
NYC City Council Overhauls Process for Nonprofit Earmarks
City legislators are set to approve a plan Wednesday for spending $50-million in discretionary grants to community organizations under a reformed process in which all council members get generally equal amounts to hand out, writes The Wall Street Journal.
Sheldon Adelson Pledges $25-Million to Israeli University
The gift to Ariel University’s School of Health Sciences is the first from the longtime philanthropic backer of Jewish causes to specifically benefit an institution in the West Bank, Haaretz writes.