Fundraising Prowess Helps Modern Art Museum Sell Bonds for Expansion
The Museum of Modern Art has raised $650 million toward its second major expansion in 12 years, helping the New York institution secure additional financing for the project through tax-exempt bonds, Bloomberg writes.
Mass. Bill Would Tax Nonprofits on Newly Acquired Property
Massachusetts nonprofit leaders are protesting the proposal to keep some real estate purchased by tax-exempt groups on the property-tax rolls for four years after the deal, State House News Service reports.
Defunct Muslim Charity Admits Funneling $1.4 Million to Iran
A representative of the Islamic American Relief Agency, which was closed more than a decade ago over alleged ties to terrorism, acknowledged in federal court Wednesday that the group violated U.S. economic sanctions targeting Iran, reports the Associated Press.
Lottery Winners Pour Millions Into Nonprofits and Make Diversity a Priority
Marvin and Mae Acosta, who pledged some of their $328 million in Powerball winnings to charity, may want to give Alcario and Carmen Castellano a call for advice. They hit the jackpot 15 years ago, and dozens of San Jose area charities ended up as winners, too.
By Maria Di Mento
Senior Editor
Kimbia’s Giving-Day Tech Failure Spurs a Wake-Up Call
Nonprofits are working with technology providers and their own staffs to prevent another costly meltdown — and some are questioning whether giving days are a sustainable way to raise money.
By Eden Stiffman
Senior Editor
Grants From Fidelity Donor-Advised Funds Jump 14%
The funds gave out $1.6 billion to charities in the first half of 2016, far higher than in the first six months of the previous year, according to a new report.
By Timothy Sandoval
Contributor
Google Critic Reportedly Linked to Gates- and Hewlett-Funded Nonprofit
Click here for a correction and update of this post based on new reporting by SiliconBeat. The Campaign for Accountability, a watchdog nonprofit that has issued harsh reports on Google’s ties to federal agencies and policy making, is affiliated with a charitable fund that receives significant financial backing from the two big grant makers, according to tech-news site SiliconBeat.
Powerball Co-Winners to Donate Most of $528 Million Windfall
A California couple who came forward last week to claim a third of a nearly $1.6 billion drawing six months ago have pledged to give most of their winnings to charity, the Associated Press reports.
Judge Ups Sentence for Detroit Clergyman in Charity Theft
After prosecutors appealed the Rev. Timothy Kane’s original 12-month sentence, calling it too light, the priest was resentenced Tuesday to three to 20 years in prison for stealing from an anonymously financed fund to help the region’s poor, reports The Detroit News.
Mystery Ore. Donor Has Given Away $55,000, $100 at a Time
The unidentified Salem, Ore., philanthropist has left a trail of bills bearing the signature “Benny” around Salem, Ore., hidden in public places or tucked into consumer products, writes The Washington Post.