$5 Billion in New Gates Funding to Address Causes in Africa
Health will be the major focus of the investment Bill Gates announced Sunday in a speech ahead of a major global AIDS conference in South Africa, the Associated Press writes.
Met Museum to Lose at Least 100 Jobs in Belt-Tightening
The Metropolitan Museum of Art said Friday that 56 employees had accepted buyouts, with more job reductions and a trimmed exhibition schedule expected as the institution aims to head off $30 million in red ink, reports The New York Times.
Conn. Foundation Earmarks $1 Million to Counter Budget Cuts
The grants from the Hartford Foundation for Public Giving aim to assist Connecticut nonprofits buffeted by deep cuts in state spending, writes the Hartford Courant.
Obituary: Michael Elliott, CEO of the ONE Campaign
Mr. Elliott, who left a high-profile journalism career to lead the international antipoverty charity co-founded by rock star Bono, died of cancer Thursday at age 65, The Washington Post and The Daily Beast write.
Gifts Roundup: U. of Oregon Gets $10 Million to Endow Volcanology Professorships
Other major donations include $20 million to Harvard Medical School for global-health work and $10 million to establish a center for history studies at Villanova.
By Eden Stiffman
Senior Editor
Trump Running Mate Raised Hackles on Abortion, LGBT Issues
Indiana Gov. Mike Pence’s wife has nonprofit experience on children’s issues, but his conservative stances on social issues have alarmed some foundations and advocacy groups.
By Alex Daniels
Contributor
Grant Makers Are Uncertain About Socially Responsible Investing, Study Finds
Few organizations have formal policies about investing their endowments in ways that generate social returns, according to the Commonfund/Council on Foundations survey.
By Alex Daniels
Contributor
Warren Buffett Donates $2.9 Billion in Annual Stock Gift
The Bill & Melinda Gates Foundation and four grant makers associated with Warren Buffett’s family received Berkshire Hathaway shares worth $2.86 billion in the philanthropist and investor’s yearly charitable stock donation, Reuters and The Wall Street Journal report.
Suit Claims ‘Looting’ of Donations at Defunct Design Charity
A bankruptcy trustee responsible for recovering assets from Architecture for Humanity is seeking $3 million from the organization’s founders and board in a lawsuit alleging the nonprofit misused restricted donations to stay afloat, according to Fast Company.
Penn State Seeks Money From Sandusky Charity for Abuse Victims
The university filed a court claim for funds from insurance companies for the Second Mile, the youth nonprofit founded by convicted child molester Jerry Sandusky, to help pay a portion of the $92 million in settlements due to the former football coach’s victims, WJAC-TV reports.