Number of Americans Who Volunteer Rises, Survey Finds
A growing number of Americans say they are volunteering, according to a study by Thrivent Financial for Lutherans. Seventy-four percent of the 1,000 adults surveyed said they participated in some form of volunteer service in 2007, a 10-percent increase over the previous year. Despite those gains,…
By Caroline Preston
Contributor
Texas Foundation Halts Some Scholarships
A charitable foundation known for supporting scholarships for business students has told a handful of universities that it can no longer pay for the scholarships it committed to, forcing those institutions to dig into their own funds to support the students. The Roy F. and Joann Cole Mitte…
By Scott Carlson
Contributor
$100-Million Pledged to Educate Women
The investment firm Goldman SachsGroup and 16 universities worldwide have announced a plan to spend $100-million to provide business education to 10,000 women in developing countries. The program, called 10,000 Women, hopes to spread good business practices to help poor countries in Africa and Asia…
By Sam Kean
Contributor
Financier Pledges $100-Million Gift to Help New York Public Library Expand
Stephen A. Schwarzman, a New York financier, is giving $100-million to the New York Public Library, where he is a member of the library’s Board of Trustees. The donation kicks off the library’s plan to raise a total of $1-billion in private donations and government funds to renovate its flagship…
By Maria Di Mento
Senior Editor
Many Business Leaders Use Tax Loophole in Donating Stock Gifts
Many corporate executives who have donated company stock to their family foundations have earned bigger tax breaks by backdating their donations to correspond to peaks in the value of their shares or using inside information from their positions to donate their shares before significant price…
By PETER PANEPENTO
Contributor
The owners of Hobby Lobby, a chain of arts-and-crafts stores, were eyeing a year of strong profits late last year, and they knew they wanted to expand their giving. David Green, who started the 400-store chain with a $600 loan and turned it into a fortune worth $1.8-billion, according to Forbes…
By Ben Gose
Senior Editor
Photograph by Rolex/Fred Cattroll
By BRENNEN JENSEN
Contributor
American College (Bryn Mawr, Pa.): Appointed Charles (Tip) Cronin III, executive vice president and chief operating officer at eMoney Advisor (Conshohocken, Pa.), to be vice president of the advancement division. Bechtler Arts Foundation (Charlotte, N.C.): Appointed John Boyer, executive director…
Grant maker: Howard Hughes Medical Institute (Chevy Chase, Md.)
Gates Foundation Accused by U.N. Official of Creating Scientific ‘Cartel’
As America’s wealthiest philanthropy, the Bill & Melinda Gates Foundation is no stranger to criticism. But a senior official at the World Health Organization has raised eyebrows recently for his harshly worded critique of the large grant maker. The official, Arata Kochi, who leads global…
By Ian Wilhelm
Contributor
$20-Million Given for New Orleans Homes
Leonard Riggio, chairman of the Barnes & Noble bookselling company, and his wife, Louise, have made a $20-million gift to build homes for low-income homeowners in New Orleans who have been unable to repair or rebuild after Hurricane Katrina. The donation is one of the largest to date for rebuilding…
By NICOLE WALLACE
Features Editor
Nation’s Biggest Grant Makers Gave 16.4% More in 2006, Report Says
By Caroline PrestonThe nation’s largest foundations increased their giving to $19.1-billion in 2006, rising 16.4 ALSO SEE: TABLE: Where Foundation Grants Go percent over the previous year, according to a report released last week by the Foundation Center, in New York. The number of grants awarded…
By Caroline Preston
Contributor
Ireland’s Growing Prosperity Sparks Increasing Philanthropic Efforts
In the last 10 years, the Republic of Ireland has earned the nickname the Celtic Tiger for its rapid economic growth. Today, that tiger is changing its stripes — a growing number of Irish entrepreneurs are becoming as passionate about donating money as they are about making it. “Generosity and…
By Ian Wilhelm
Contributor
Financier Pledges $1-Billion to Newly Created Foundation
Peter G. Peterson, the private-equity titan, has announced that he plans to give at least $1-billion over the next several years through his newly created foundation, which will focus on calling public attention to threats to America’s economic security. Mr. Peterson, a co-founder and the senior…
By Maria Di Mento
Senior Editor