Daily News Roundup: Universities Use Offshore Accounts to Hide Controversial Investments
Leaked documents from a Bermuda law firm reveal how U.S. institutions like Indiana University and Texas Christian University used “blocker corporations” to quietly invest millions of dollars in fossil fuels. In other news, nonprofits show glaring holes in preparedness for cyber-attacks, and a look at how the Republican tax cut plan would hamper the efforts of college major-gift fundraisers who work with athletic boosters.
New Hires at Kripalu Center and MacArthur Foundation
More personnel moves at Jupiter Medical Center and Children International. Also, the philanthropist Joan Tisch has died.
By M.J. Prest
Senior Editor, Solutions
Small Foundations Are More Generous Than Larger Ones, Study Finds
As a result of their giving, grant makers with less than $1 million in assets saw their endowments shrink an average of 1.4 percent in 2016, according to a report from Foundation Source.For a look at the giving rates of big foundations, see our special report.
By Megan O’Neil
Contributor
Zuckerberg and Chan Pour $2 Billion in Stock Into Charity Accounts
The latest move, which builds the coffers of the couple’s foundation and their donor-advised fund, brings their personal giving so far to more than $3.6 billion.
By Maria Di Mento
Senior Editor
Daily News Roundup: How the Rich Stash Charitable and Other Assets Offshore
In other news and features, a report on affluent people who leave their “wealth bubble” to help in other neighborhoods; the GOP proposes ending tax exemptions on private-activity bonds, which provide tax-free borrowing for large hospitals and universities; a troubled Massachusetts museum plans to sell Norman Rockwell paintings over the objections of the late artist’s sons; and much more.
Grants Roundup: $48 Million From Neilsen Foundation for New Hospital at University of Utah
Plus, the Lilly Endowment devotes $30 million to hurricane-recovery efforts, and the William Davidson Foundation gives $15 million to the Detroit Symphony Orchestra.
By M.J. Prest
Senior Editor, Solutions
Lack of Personalized Appeals Means Fewer Donations, Study Suggests
70 percent of Americans surveyed want communications tailored to them, but just over half say they’re satisfied with nonprofits’ efforts, according to a report by Accenture.
By HEATHER JOSLYN
Contributor
Daily News Roundup: Fewer Colleges Would Be Taxed Under GOP Tax-Bill Amendment
The tax bill would also eliminate municipal bonds popular with hospitals and universities. In other news, a study shows that when business leaders serve on nonprofit boards, they have a greater appreciation for workplace diversity; Uber gives $5 million for sexual-assault prevention; and more about foundation leaders and about giving.
As Giving Tuesday Expands, Nonprofits’ Campaigns Grow More Sophisticated
On deck for this year’s Giving Tuesday: early messaging, more live videos, and new social-media tools.
By Timothy Sandoval
Contributor
Gifts Roundup: U. of Chicago Lands $125 Million From Financier Ken Griffin
Other notable gifts include $7 million each for the Albany Symphony and the Wichita Community Foundation and $4.5 million from Charles Koch to create a drug-policy center at Ohio State University.
By Maria Di Mento
Senior Editor