Charity endowments are growing popular, but the trend has risks The United Way in Sarasota County, Fla., has always focused on raising money for annual needs, but lately it has been working on another goal: a multimillion-dollar endowment fund. ALSO SEE:Endowments Mark Fiscal Maturity for…
By Thomas J. Billitteri
Contributor
‘Governing’: Competition for Corporate Sponsorships
Corporate sponsorships are a promising arena for raising charitable dollars, but now non-profit groups face an increasingly tough rival in pursuit of company cash: local governments that are cutting marketing deals with some of the nation’s biggest and wealthiest businesses. Governing magazine…
By Thomas J. Billitteri
Contributor
‘Kiplinger’s’: Value in Non-Cash Gifts
“Put away the checkbook,” Kiplinger’s Personal Finance magazine (December) tells charity donors. “A non-cash gift gets you more bang for your giveaway buck.” The magazine outlines the benefits of particular non-cash gifts, including the following: * Stock and mutual-fund shares. Stock donations…
By Thomas J. Billitteri
Contributor
A Tradition of Service in Limbo
Civic clubs like Lions and Rotary seek ways to attract new members Dona Avery, an administrative assistant at an Atlanta bank, has done volunteer work for 20 years but says she never considered becoming a member of a traditional service club such as the Rotary, Kiwanis, or Lions Clubs. “I’m aware…
By Thomas J. Billitteri
Contributor
For Foundations, a Mix of Prudence and Daring Is the Key to Investing
Any investor’s challenge is to beat inflation and make a profit, but grant-making foundations face special hurdles in choosing the right mix of assets. ALSO SEE:Hedging Their BetsComing to Terms With Alternative Investing Foundations in many cases must earn at least 9 per cent on their assets --…
By Thomas J. Billitteri
Contributor
Big foundations and universities turn to non-traditional investments When the stock market plunged in August, the John S. and James L. Knight Foundation had a cushion to break the fall. One-fifth of the foundation’s $1.2-billion endowment was invested in “hedge funds.” The funds -- which place bets…
By Thomas J. Billitteri
Contributor
Virginia McKnight Binger, a Minnesotan worth $450-million, was a “near miss” on the latest Forbes magazine list of the 400 wealthiest Americans (October 12). Mrs. Binger might have had an easier time making the list were she not so generous. Mrs. Binger, whose father, a chief executive of 3M, set…
By Thomas J. Billitteri
Contributor
‘Smart Money’:Fund-Raising Aggravation
Pressure tactics. Punishment. Persistence. Those words may sound like suitable strategies to use against a recalcitrant foreign enemy, but Smart Money magazine (October) uses them to describe what it calls “the modern-day rules of engagement when it comes to fundraising.” “Polite persuasion has…
By Thomas J. Billitteri
Contributor
Report Sees Tough Times for Hospitals That Merge
After a short period of financial improvement, non-profit hospitals will face a “bumpy road” over the next five years, says a new report from Moody’s Investors Service, a major bond-rating service. In the long run, however, the financial picture should brighten as many hospitals adjust to a wave of…
By Thomas J. Billitteri
Contributor
‘Working Woman’: Female Donors Seek Change
Female business executives “are looking for new ways to make their voices heard -- and their money mean something -- in the philanthropic arena,” says an article in Working Woman magazine (July-August). “Driven by mounting disposable incomes and the desire to give,” says the magazine, “and, in some…
By Thomas J. Billitteri
Contributor