Daily News Roundup: Index Fund Investing Gives Small Wisc. College an Edge Over Endowment Rivals
An 11 percent investment return for Carthage College’s $120 million endowment last year bested the 7.4 percent median for other schools, according to a study. Also, rock band Pearl Jam to dedicate $12 million in sold-out shows to Seattle’s huge homelessness problem; campaign aims to promote safe gun storage to prevent accidental child deaths; new foundation will magnify legacy of woman killed in Charlottesville protest, and more.
Foundation Investment Returns Surged by 15% Last Year, Study Says
However, those returns trailed the general market, and one expert expects slower growth ahead.
By Alex Daniels
Contributor
Daily News Roundup: Fidelity’s New Female Chief Is Intensely Private — and a Big Philanthropist
A generous but anonymous supporter of charities, Abby Johnson aims to remake the finanial services company she took over from her father. Also, museums seek to cultivate more curators of color; it’s harder than you think to return tainted donations; and storm-ravaged Puerto Rico gets water relief from an unlikely duo.
Also, the Jewish Museum received a $10 million endowment as well as a collection of contemporary artwork, and the Outdoor Foundation will use $1 million for a campaign to get families to play outside.
By M.J. Prest
Senior Editor, Solutions
Daily News Roundup: Judge Invalidates Ruling on Anonymous Gifts to ‘Dark-Money’ Groups
The Federal Election Commission’s regulation “blatantly undercuts the congressional goal of fully disclosing the sources of money flowing into federal political campaigns,” the judge wrote. In other articles, LeBron James’s funding of a public school is a departure from most suuch celebrity gifts, which usually go to charters; and local aid workers make less than their international counterparts, even though their jobs can be riskier. Plus, more news about taxes, sexual harassment, and the arts.
Daily News Roundup: U. of Michigan Donor’s Family Reaps Benefits From University Investments
An alumnus helped support a trip to Paris for the football team after the university had invested $100 million in his son’s private-equity funds. In other articles, an assistant to a pastor of an iconic evangelical church outside Chicago says he sexually harassed her; a religious group is facing protests and lawsuits over its work with migrants and foster children; and much more.
Gifts Roundup: UCLA Lands 2 Big Donations Totaling $27.4 Million
Also, the Norton Museum of Art received $20 million, and $15 million will go to the University of Alabama’s business college.
By Maria Di Mento
Senior Editor
Daily News Roundup: DAF Loophole Lets Billionaires Slash Taxes
People who give to donor-advised funds are rewarded for good intensions, but critics see opportunities for abuse. Another article on DAFs says cryptocurrency may account for a surge in assets at the Silicon Valley Community Foundation. Plus, read about a shelter worker who has been charged with molesting eight migrant children; a hedge-fund billionaire who is spending big on veterans but drawing criticism; and other articles on big gifts, corporate philanthropy, and more.
Also, the American Committee for the Weizmann Institute of Science welcomes a new CEO, and the head of the Woodrow Wilson Foundation will step down next summer.
By M.J. Prest
Senior Editor, Solutions
Podcast: Nonprofit Creates Maps to Aid in Relief Efforts Around the World
The work of the Humanitarian OpenStreetMap Team is available on an open platform and includes areas that previously had not been mapped.