News Briefs for April 10, 2014

WORLD VISION REVERSES POLICY ON HIRING OF MARRIED GAYS IN WAKE OF CONTROVERSY

Two days after saying it would allow its U.S. offices to employ Christians in same-sex marriages, the aid organization World Vision reversed the decision last month after a backlash from evangelical leaders and supporters. Richard Stearns, president of the charity, said in a statement that the shift had been “a mistake” and caused distress “for many friends who saw this policy change as a strong reversal of World Vision’s commitment to biblical authority.”

SUPREME COURT WON’T REVIEW LAWSUITS ON OBAMACARE BY RELIGIOUS GROUPS

The Supreme Court has declined to review two lawsuits pursued by Catholic nonprofit organizations challenging the Affordable Care Act’s mandate on contraceptive coverage. The action means that the cases will now be decided by the U.S. appeals court in Washington, D.C., but could eventually be forwarded to the Supreme Court, depending on the trial outcome. In December, a federal district judge ruled against the plaintiffs: the archbishop of Washington and the anti-abortion group Priests for Life.

FOUNDATIONS AND OTHERS PLEDGE $240-MILLION FOR PUSH TO ERADICATE TROPICAL DISEASES

The Bill & Melinda Gates Foundation and other donors announced plans last week to commit $240-million to help tackle neglected tropical diseases. Gates and the Children’s Investment Fund Foundation are each contributing $50-million to the effort, while the World Bank Group is pitching in $120-million.

INVESTMENT RETURNS AT SMALL NONPROFITS LAG BEHIND BULL-MARKET BENCHMARKS

Small and midsize nonprofits earned more money on their investments last year if they stuck with formal strategies and stayed on top of how much they paid their financial advisers, a new study finds. The study of 261 groups with budgets of $25-million or less, conducted by Raffa Wealth Management, found that overall investment returns for charities of all sizes grew 10.8 percent. Private and community foundations earned 11.5-percent returns. The growth trailed investment benchmarks for 2013, a year when broad indexes of U.S. stocks rose at least 30 percent.

STARBUCKS CHIEF HOWARD SCHULTZ PLEDGES $30-MILLION TO AID U.S. WAR VETERANS

Howard Schultz, co-founder and chairman of the coffee giant Starbucks, has pledged to donate $30-million for assistance to troops returning home from the wars in Iraq and Afghanistan. The Schultz Family Foundation is creating Onward Veterans, which will help the service members get jobs and deal with health issues. Part of the money will be used to support research on treating brain trauma and post-traumatic stress.

REDSKINS TEAM OWNER STARTS FOUNDATION TO PROVIDE AID TO NATIVE AMERICANS

Daniel Snyder, the Washington Redskins owner who has come under fire for refusing to change the football team’s name, has formed a charity to aid Native Americans. Mr. Snyder said the Washington Redskins Original Americans Foundation will work to “address the challenges that plague the Native American community” and has dozens of projects under way to improve conditions for tribes nationwide. Some tribes and politicians have called on Mr. Snyder to change a team name considered a racial slur.

SAN DIEGO OPERA MAY FOLD THIS MONTH

The board of the San Diego Opera voted last month to shut down the country’s 10th-largest opera company this spring, its 49th year, although the closure was later delayed by about two weeks. Citing “increasingly higher ticket-sale and fundraising hurdles,” the board originally said the opera would hold its final performance on April 13. But it decided to give the company until April 29 to examine other financial and artistic options for the 2015 season.

GOOGLE’S LARRY PAGE IS SKEPTICAL OF CHARITY BUT GAVE $177-MILLION TO CAUSES LAST MONTH

Although Larry Page, Google’s chief executive, drew attention for saying in a TED-conference interview that he would rather give his money to entrepreneurs and businesses with new and creative ideas than to nonprofit organizations, it turns out that he donates a substantial amount. Last month he gave stock in his company valued at nearly $177.3-million, according to Securities and Exchange Commission documents. The documents don’t name the beneficiaries.

ASSOCIATION THAT SERVES SMALL FOUNDATIONS REBRANDS ITSELF TO REACH MORE DONORS

The Association of Small Foundations has changed its name to “Exponent Philanthropy” to appeal to a broader range of philanthropists that are increasingly giving through donor-advised funds and other methods. The association’s 2,400 members hold more than $71-billion in assets.