Rubio-Aligned Nonprofit Plans $20-Million Advertising Blitz
The Conservative Solutions Project, a 501(c)(4) “social welfare” group formed last year by supporters of Sen. Marco Rubio’s presidential bid, said it has raised $15.8 million to date and will spend $20 million or more on issue advertising, reports The New York Times.
ESPN Pulls Charity Golf Event from Trump-Owned Course
The sports network said Monday that it is moving its ESPY Celebrity Golf Classic benefiting cancer research from the Trump National Golf Club in New Jersey because of Donald Trump’s recent derogatory remarks about Mexicans, The Guardian and Variety write.
N.Y. Shuts Down ‘Pay for Success’ Recidivism Program
New York City’s first attempt to implement a social program via the “pay for success” model failed to meet performance goals but was nonetheless hailed by officials because the experiment cost taxpayers nothing, writes The Bond Buyer, which covers municipal finance.
Medical Charities Embrace Investment to Speed New Drugs
The Washington Post looks at the growth of venture philanthropy among disease charities, focusing on the Cystic Fibrosis Foundation and its $3.3-billion windfall last year from its investment in a pharmaceutical firm that developed a breakthrough drug.
Web Magazine Shows Charity’s Growth as Marketing Tool
Companies engaging more actively in charity outreach are finding it an effective tool to shape their brand, CNBC reports in an article focusing on digital publication The Chive, which has gained a large audience with its diet of humor videos and photos of scantily clad women but is also involving readers in its philanthropy.
IRS Standing Down for 2016 as Nonprofits Boost Campaign Role
As “social welfare” groups aligned with presidential candidates proliferate, the Internal Revenue Service appears certain to delay any attempt to tighten regulations on nonprofit politicking until after the 2016 election, according to The New York Times.
2014 Calif. Audit Blasted Blue Shield for $4 Billion Surplus
The revocation last year of Blue Shield of California’s state tax exemption came on the heels of a blistering audit by state tax officials who assailed the nonprofit health insurer’s provision of coverage and multibillion-dollar cash stockpile, the Los Angeles Times writes.
Gifts Roundup: $27 Million for Economics at the University of Cambridge
Also included is a $2-million gift to expand the neurological intensive-care unit at Abbott Northwestern Hospital in Minneapolis.
By Maria Di Mento
Senior Editor
Gateses and Waltons Among Top Donors to Jeb Bush Schools Group
Several major corporations and education-focused philanthropies have donated millions of dollars to the school-overhaul nonprofit launched by Jeb Bush after his tenure as Florida’s governor, the Associated Press reports, citing disclosures made last week by the Republican presidential candidate.
Money From Rockefeller Fund Backs Effort to Forge Iran Deal
A Rockefeller family philanthropy has taken a major role both financially and organizationally in backing U.S. attempts to reach an agreement on nuclear security with Tehran, Bloomberg reports.