Lawsuit Over $264-Million Bequest Settled
The Salvation Army and Greenpeace have resolved a dispute over a $264-million bequest from an heir to the UPS fortune. Greenpeace has received $27-million from the estate, the environmental group’s largest gift ever, and the Salvation Army received its $33-million share. The conflict arose after…
By Debra E. Blum
Contributor
Corporate Giving Increased 2.7% Last Year, Study Finds
Corporate foundations gave a record $4.2-billion to charity last year, and the majority expect to donate a larger amount in 2007, says a new report. From 2005 to 2006, philanthropy by corporate foundations rose 2.7 percent after adjusting for inflation, says the report by the Foundation Center, in…
By Ian Wilhelm
Contributor
$100-Million Foundation in Legal Dispute Will Be Split Into Two Funds
A three-year legal battle over a $100-million foundation has ended with two states splitting its assets, and the leader of the foundation, who was accused of squandering millions of dollars meant for charity, left in charge. Charity regulators in Mississippi and Tennessee say they are pleased with…
By Debra E. Blum
Contributor
Innovative Management Aids Organization’s Quest to Lead by Example
When Samuel J. Heyman sought to start a new organization to promote public service, he interviewed former cabinet members and presidential candidates to lead it. But instead he chose Max Stier, who at age 35 had worked in all three branches of federal government, including a clerkship with Justice…
By nicole lewis
Contributor
A Philanthropic Partnership With a Commitment to Public Service
When Samuel J. Heyman told his wife of 36 years that he intended to give away $25-million to form a new ALSO SEE:ARTICLE: The Best and the Brightest nonprofit group aimed at recruiting bright people into government service, her reaction was: It’s “a lot of money.” While the Heymans’ 2001 gift to…
By nicole lewis
Contributor
A Washington group seeks to pass the torch of public service By Nicole LewisWhen Samuel J. Heyman graduated from Harvard Law School in 1963, he could have earned a substantial ALSO SEE: TEXTBOX: About the Partnership for Public Service ARTICLE: A Philanthropic Partnership With a Commitment to…
By nicole lewis
Contributor
More Endowments Hedge Their Bets Against Market Conditions
Hedge funds have bolstered the returns at the biggest endowments in recent years, and that success ALSO SEE:DATABASE: Endowments at Nonprofit OrganizationsTABLE: Endowments at 72 organizations that support nonprofit groupsARTICLE: Strong Endowment GrowthARTICLE: Key Results of The Chronicle’s…
By Ben Gose and PETER PANEPENTO
Endowments Grow in Popularity at Private Schools
Endowments, long the domain of foundations and universities, are becoming an increasingly popular tool ALSO SEE:DATABASE: Endowments at Nonprofit OrganizationsTABLE: Endowments at 72 organizations that support nonprofit groupsARTICLE: Strong Endowment GrowthARTICLE: Key Results of The Chronicle’s…
By PETER PANEPENTO
Contributor
Charity Urges Colleges to Focus on ‘Sustainability’ of Their Endowments
Colleges are increasingly focused on sustainability — by erecting environmentally friendly buildings ALSO SEE:DATABASE: Endowments at Nonprofit OrganizationsTABLE: Endowments at 72 organizations that support nonprofit groupsARTICLE: Strong Endowment GrowthARTICLE: Key Results of The Chronicle’s…
By Ben Gose
Senior Editor
Key Results of The Chronicle’s Annual Survey and How It Was Compiled
More than $406.9-billion is held in the endowments of 268 of the nation’s major foundations, ALSO SEE:DATABASE: Endowments at Nonprofit OrganizationsTABLE: Endowments at 72 organizations that support nonprofit groupsARTICLE: Strong Endowment GrowthARTICLE: Charity Urges Colleges to Focus on…
By Maria Di Mento
Senior Editor