A growing number of foundation donors are shunning the idea that their organizations should operate forever, notes The Wall Street Journal. Since the 1990s, donors have become more likely to set a time limit for spending all of their foundation’s assets, according to a study by the Foundation…
Obituary: Margaret Anne Cargill, Philanthropist
Margaret Anne Cargill, an heiress to the Cargill agribusiness fortune, and a philanthropist who anonymously gave away millions over her lifetime, died on August 1, reports The San Diego Union-Tribune. She was 85, and lived in La Jolla, Calif. Ms. Cargill insisted on giving all of her donations…
Senator Omits Foundation Role in Filings
Senator Frist failed to disclose role in family foundation
North Korea Rejects Aid Offers
North Korea has refused offers of assistance in response to massive flooding that has pushed the country closer to famine, reports Reuters. The government rejected donations of food from the World Food Programme, which had made the assistance conditional on first surveying the situation in North…
Dole Food’s Owner Promotes Healthful Eating
David H. Murdock, owner of the Dole Food Company, is mixing business and philanthropy, spending more than $1-billion of his fortune on projects that combine his commercial interests with his desire to promote healthful eating, reports The Wall Street Journal. Mr. Murdock is building a biotechnology…
NY Arts Groups in Limbo Regarding Funds
Arts groups in New York are in limbo after the dissolution of the Lower Manhattan Development Corporation, the agency charged with rebuilding the city’s downtown, reports The New York Times. The groups are wondering what will happen to the remaining $7-million of the many millions of dollars in…
CEO of Discovery Will Focus on Philanthropy
Judith A. McHale, chief executive of Disney Communications, is leaving the company to pursue philanthropic and education activities, reports The Washington Post. Ms. McHale, who has a long-time interest in Africa, will remain as an adviser to the company’s education programs and will volunteer as…
A Civic Leader Works to Protect the Nation’s Constitution
NEW ON THE JOB The National Constitution Center in Philadelphia didn’t look very far when it searched for a chief executive to succeed Richard Stengel. The center, a nonprofit organization that works to increase public understanding of the U.S. Constitution, instead approached Joseph M. Torsella —…
By PETER PANEPENTO
Contributor
Housing Group Founder Sues Tax Agency
TAX WATCH A financial deal involving a Sacramento housing charity has led to battles at the Internal Revenue Service and in the California courts. Don F. Harris, who founded Nehemiah Corporation, a nonprofit provider of down-payment assistance, said in a petition to the U.S. Tax Court that he had…
By Elizabeth Schwinn
Contributor