Stars and Moguls ‘Flash Fund’ $14 Million in School Projects
Some 12,000 classroom projects for which teachers across the country were raising money at DonorsChoose.org were fully paid for in the “flash funding” campaign involving dozens of actors, athletes, and tech-industry titans, Fast Company and the Associated Press write.
Building-Rights Gifts Put Trump in Line for Big Tax Breaks
The Republican presidential frontrunner’s donation of “conservation easements” limiting development on his resorts, golf courses, and estate might be saving him millions of dollars in federal taxes, according to The Wall Street Journal.
Big Gifts for UC-Davis Health and Rochester Business School
A real-estate investor whose glaucoma was successfully treated at the University of California at Davis has donated $38.5 million to the university for eye research and treatment, reports The Sacramento Bee, and an anonymous alumnus pledged to leave $20 million to the University of Rochester’s Simon Business School, the Rochester Democrat & Chronicle writes.
Judge OKs Shutdown of Disgraced Penn State Coach’s Charity
The ruling Thursday turns over to state authorities about $750,000 in assets from the Second Mile, the youth nonprofit founded by ex-Penn State assistant football coach and convicted child molester Jerry Sandusky, Reuters and the Centre Daily Times report.
Wounded Warrior Project Fires Top Executives
The officials were let go nearly two months after allegations surfaced about excessive spending on parties, travel, and conferences. The board says policies and controls failed to keep up with fast growth. CEO Steve Nardizzi and COO Al Giordano are out. The board says policies and controls failed to keep up with fast growth at the country’s largest veterans charity.
By Timothy Sandoval
Contributor
Restructuring Puts United Way Silicon Valley Grants on Hold
The Silicon Valley group, undergoing a reorganization that could see it merge with another Bay Area United Way chapter, will stop making grants later this year, dealing a blow to some two dozen nonprofits serving low-income residents in the region, the San Jose Mercury News reports.
CVS to Put $50 Million Into Youth-Focused Antismoking Effort
Two years after becoming the first national drugstore chain to stop selling tobacco products, CVS Health Corporation has committed $50 million to a five-year campaign to curb cigarette use by youths, reports The Wall Street Journal.
Lawmakers Again Take Up UConn Foundation Transparency
After rejecting a proposal last year to make the flagship state university’s nonprofit arm subject to open-records laws, Connecticut representatives are considering a new bill aimed at increasing the organization’s financial disclosure, the Hartford Courant writes.
China Set to Pass First Law Regulating Private Charities
The parliament is expected to adopt regulations this session that could give charities more freedom to operate and raise money but also allow for further restrictions on human-rights groups and foreign organizations, Reuters writes.
Charity Navigator Extends Time to Respond to Watchlist Notice
Nonprofits will get five days’ notice, up from two days, to try to avoid being placed on a list that can present big headaches for charities and their fundraising operations.
By Eden Stiffman
Senior Editor