Fewer Groups Got Charity Status in 2015, but Numbers Still High
The agency approved 86,915 organizations for 501(c)(3) tax exemptions last year, bringing the total number of recognized charities to nearly 1.2 million.
By Alex Daniels
Senior Editor, Foundations
High Court Appears to Seek 3rd Way in Contraceptive Case
The Supreme Court seemed to open the door Tuesday to a compromise ruling in the charged legal fight between the White House and religious nonprofits over the Affordable Care Act’s contraceptive mandate, issuing an order for new briefs from both sides, reports the Associated Press.
Fund Chief’s Charity Says It Was Victim of $25 Million Fraud
Finance billionaire Louis Bacon’s Moore Charitable Foundation said Tuesday that it was the charity allegedly victimized in what authorities say was an investment fraud orchestrated by another Wall Street executive, The New York Times reports.
Maryland Lawmakers OK State Funds for Private Schools
After a 10-year legislative battle over taxpayer support for nonpublic schools, Maryland’s legislature approved a state budget Tuesday that includes a new $5 million grant fund for private-school scholarships, The Washington Post reports.
Walton-Backed Crystal Bridges Museum to Open Satellite
The American-art showplace, one of the signature philanthropic endeavors of the family behind Walmart, will establish a new contemporary-art center in a defunct Kraft cheese factory, writes The New York Times.
‘Real Housewives’ Star’s Charity Raises and Spends Little
The youth-focused foundation run by Katie Rost, a model-turned-philanthropist featured in reality show The Real Housewives of Potomac, is “almost nonfunctional” and has granted only a few thousand dollars in its decade of existence, The Washington Post writes.
Grants Roundup: Carnegie and MacArthur Funds Give $25 Million for Nuclear-Security Work
Other awards include $10 million from the Anschutz Foundation to establish a center for behavioral health at the University of Colorado.
By Eden Stiffman and Alex Daniels
Wall St. Scion Accused of Stealing $25 Million From Charity
Prosecutors allege Andrew Caspersen, a former managing partner at a private-equity firm, schemed to defraud investors of $95 million, more than a quarter of it from an unnamed charitable organization, The Wall Street Journal and Bloomberg report.
Johns Hopkins Gets $125 Million to Advance Cancer Therapy
Michael Bloomberg and fashion mogul Sidney Kimmel, each of whom is giving $50 million, are among the donors financing a new research institute at the university focused on developing breakthrough treatments based on immunotherapy, reports The Washington Post.
A Leader’s Fond Farewell Becomes a Fundraising Bonanza
Retirements of popular executives present opportunities to engage supporters, tout an organization’s accomplishments — and raise money.
By Debra E. Blum
Contributor