As the recession deepened last November, executives at the Women’s Lunch Place, a charity in Boston, took a look at its $2.1-million budget and saw nothing but red ink. In just the first five months of their fiscal year, a combination of declining donations and deferred grants had left the charity…
By Ben Gose
Senior Editor
AIG Seeks to Gain Control of Endowment in Order to Pay Bonuses
American International Group, the beleaguered insurance company, is suing to gain control of roughly $4-billion that is owned by a charitable organization, the Starr International Foundation, so that some or all of the money can be used to pay bonuses to AIG employees. The company argues that it…
By Ben Gose
Senior Editor
Few nonprofit boards have fared worse in print than the national board of the American Civil Liberties Union in Worst Instincts: Cowardice, Conformity, and the ACLU, a new book by the social critic Wendy Kaminer. In the book, Ms. Kaminer chronicles the errors she believes Anthony D. Romero made…
By Ben Gose
Senior Editor
With Stocks Still Shaky, Endowment Managers Put New Faith in Cash
Two years ago, many endowment managers disparaged cash and high-quality bonds as low-yielding investments that didn’t deserve much room in a portfolio designed to keep an organization operating in perpetuity. Now, that looks like bull-market talk. The current buzz is all about maintaining adequate…
By Ben Gose
Senior Editor
Sharp drops in endowments are causing some charities to dump some riskier investments to raise cash
By Ben Gose
Senior Editor
Foundation Embroiled in Madoff Scandal Is Target of $5.1-Billion Lawsuit
The Picower Foundation, one of the nation’s largest foundations until it collapsed in December as part of the Bernard Madoff investment scandal, and its founders have been sued by the trustee who is overseeing the liquidation of the Madoff investment firm. The trustee, Irving Picard, is seeking the…
By Ben Gose
Senior Editor
Funds Will Help Support Groups Assisting Those in Dire Need
Charities that provide food and shelter have been facing greater demands for their services since the recession began, and many have struggled to cover their costs. Now the federal stimulus law is about to send organizations government aid to to pick up some of the tab. Congress provided…
By Ben Gose
Senior Editor
Economic Pressures Prompt a Rise in Anonymous Philanthropy
At a time when many charities are desperately looking for new donors, an increasing number of philanthropists seem to be trying just as hard not to be found. Data compiled by The Chronicle, and anecdotal reports from fund raisers and advisers to donors, suggest that a rising number of people are…
By Ben Gose
Senior Editor
Anonymous Giving Gains in Popularity as the Recession Deepens
Anonymous giving gains popularity in recession, Chronicle study finds
By Ben Gose
Senior Editor
Charities Need Business Experts, but Few Ask for Free Help
Nonprofit organizations could use donations of time from people with expertise in marketing, strategic planning, finance, Web-site design, and many other business areas during this deep recession, but neither charities nor corporations are taking the right steps to encourage more people to donate…
By Ben Gose
Senior Editor