Fannie Mae to Close Its Foundation, but Continue Supporting Charities
The Fannie Mae corporation has decided to shut down its foundation this spring as part of a reorganization of its business operations. Fannie Mae, a government-sponsored company created to establish a market for secondary mortgages, said it will close the fund April 30. A new Office of Community…
By Ian Wilhelm
Contributor
Grant Makers Shift Focus From Welfare to New Projects to Reduce Poverty
As foundations move away from supporting projects related to the federal welfare system, some grant makers have begun financing several new programs aimed at decreasing poverty. The Annie E. Casey Foundation, in Baltimore, which spent more than $70-million on welfare-related grants in the past…
By Michael Anft
Contributor
Grant makers and charities seek new ways to meet needs of poorA 30-year-old mother of three who lives in Seattle, Chevaughn Stephens knew that after four years of relying on welfare checks ALSO SEE:ARTICLE: Grant Makers Shift Focus From Welfare to New Projects to Reduce Poverty to get by, she had…
By Michael Anft
Contributor
THE FACE OF PHILANTHROPYSung to Their Rest
While all musicians strive to please and entertain people with their music, Sharilyn Cohn, a harpist and vocalist, carries an extra burden: Her music may be some of the last sounds her listeners ever hear. Ms. Cohn is a “music thanatologist,” a performer who plays music for people who are dying or…
By BRENNEN JENSEN
Contributor
Interest Rates for Planned Gifts
Following are the interest rates, provided by the Internal Revenue Service, for computing charitable deductions for charitable remainder trusts, gift annuities, charitable lead trusts, and some other deferred gifts. March 2007 5.8% February 5.6% January 5.6% December 2006 5.8% November 5.6% October…
Status and recent results of drives for endowments, capital improvements, and other needs Started or announced Closing date Goal Amount raised Purpose Howard U. (D.C.) March 2002 March 2007 $250,000,000 $250,000,000 For academic programs and facilities Memorial Sloan-Kettering Cancer Center (N.Y.)…
All Kinds of Minds (Chapel Hill, N.C.): Appointed Mary-Dean Barringer, national director for the organization’s Schools Attuned Program, to be chief executive officer. She succeeds Mark Grayson, who will become president. This group offers programs for children who have academic difficulties.…
Following are summaries of recent reports by the BBB Wise Giving Alliance. This private group reports on whether charities meet standards for fund raising, governance, financial management, and public information. The alliance does not approve or disapprove of charities, and urges potential donors…
The Internal Revenue Service has issued rules for charities that participate in tax shelters later deemed illegal. In Notice 2007-18, the tax agency explains which tax-exempt organizations must report their participation in such shelters to the Internal Revenue Service and what they must do with…
By Elizabeth Schwinn
Contributor