‘Nature’: Philanthropy Tops Government and Business
With a growing number of philanthropic dollars supporting medical research, some nonprofit officials argue that philanthropists and foundations have more success producing scientific breakthroughs and notable scientists than do corporations and governments, says Nature (May 17). While there is no…
By Ian Wilhelm
Contributor
Considering Racial Disparities When Making Grants
NEW BOOKS Grant Making With a Racial Equity Lens, explains what a “racial-equity lens” is, why foundations should use such an approach, how to incorporate it into grant making and operations, and how to overcome possible stumbling blocks. Defined as “disciplined attention to race and ethnicity…
By Anne W. Howard
Contributor
Interim CEO Resigns From Red Cross
Jack McGuire, who has served as interim chief executive of the American Red Cross since December 2005 but lost his bid to get the top job permanently, has decided to leave the organization in mid-July. “After much deliberation, I have decided to leave the American Red Cross as an employee and I now…
By SUZANNE PERRY
Contributor
Arts Organizations Produce $166-Billion in Revenue
Nonprofit arts groups helped to produce $166.2-billion in economic activity in 2005, growing by 11 percent in inflation-adjusted dollars from five years before, says a new report. Spending by arts and culture organizations themselves amounted to $63.1-billion, a 4-percent increase from 2000.…
By Regina Nuzzo
Contributor
Guidelines Offered on Reporting Compensation
Following widespread confusion among charities over how much information they must provide about their key officials to the Internal Revenue Service, the tax agency has posted informal guidelines on its Web site. The IRS last year revised its Form 990, the federal informational tax return charities…
By Elizabeth Schwinn
Contributor
IRS Issues New Rules on Disclosing Charity Income
The Internal Revenue Service has released rules that explain how charities should put into practice a new law that requires them to publicly report income they receive that is not related to their missions. Under the Pension Protection Act, which became law last August, all charities for the first…
By Elizabeth Schwinn
Contributor
Tax Agency Reviews Lease Donations
The Internal Revenue Service says it is investigating a possible tax scam involving charities that accept donations of a type of property lease. In a letter to Sen. Max Baucus, the Montana Democrat who chairs the Senate Finance Committee, the tax agency says it has identified 48 companies, mostly…
By Elizabeth Schwinn
Contributor
Rising Costs Put Pressure on Charity Budgets
Steep cost increases and waning government support are squeezing nonprofit groups to the point that about one-third of all organizations are expecting severe financial stress during the next year, according to a new report by the Johns Hopkins University’s Center for Civil Society Studies. But…
By PETER PANEPENTO
Contributor
Bits: Conference to Discuss Municipal Wi-Fi and Broadband Projects Planned for July
“Impact: The Digital Revolution,” a conference to discuss municipal wi-fi and broadband projects, is scheduled to take place in Houston July 26-28. One of the meeting’s sponsors is Technology for All, an organization in Houston that focuses on technology as a way to increase educational and…
By NICOLE WALLACE
Features Editor
New Web Sites Specialize in Financing Charity Projects
Two new sites, ChangingThePresent.org and Bring Light, are giving donors the opportunity to make gifts that support specific projects, rather than giving general contributions to a charity to use as it chooses. Both sites also give donors the ability to set up online fund-raising drives to raise…
By NICOLE WALLACE
Features Editor
Site Seeks to Spur Donors to Collaborate on Gifts
Change.org, a new giving site, allows donors to work together to raise money for the issues they care about. The site seeks to harness the interactivity of so-called Web 2.0 technologies to promote giving and advocacy, both in the nonprofit world and politics. Visitors to the site can start or join…
By NICOLE WALLACE
Features Editor
Foundation Officials Agree to Pay $1.9-Million to Settle Compensation Dispute in New York
The State of New York has recovered nearly $2-million from officials of the William T. Morris Foundation as part of a settlement agreement announced this month. The state had alleged that the foundation overpaid the officials for their work. Attorney General Andrew Cuomo of New York said the…
By Elizabeth Schwinn
Contributor
How charities cope when their boards need a makeoverThe recent outbreak of scandals at such high-profile organizations as American University, the Getty Trust, and the Smithsonian Institution — situations worsened, observers say, by failures of those groups’ boards to provide oversight — has set…
By Jennifer C. Berkshire
Contributor
More Endowments Hedge Their Bets Against Market Conditions
Hedge funds have bolstered the returns at the biggest endowments in recent years, and that success ALSO SEE:DATABASE: Endowments at Nonprofit OrganizationsTABLE: Endowments at 72 organizations that support nonprofit groupsARTICLE: Strong Endowment GrowthARTICLE: Key Results of The Chronicle’s…
By Ben Gose and PETER PANEPENTO
Endowments Grow in Popularity at Private Schools
Endowments, long the domain of foundations and universities, are becoming an increasingly popular tool ALSO SEE:DATABASE: Endowments at Nonprofit OrganizationsTABLE: Endowments at 72 organizations that support nonprofit groupsARTICLE: Strong Endowment GrowthARTICLE: Key Results of The Chronicle’s…
By PETER PANEPENTO
Contributor
Charity Urges Colleges to Focus on ‘Sustainability’ of Their Endowments
Colleges are increasingly focused on sustainability — by erecting environmentally friendly buildings ALSO SEE:DATABASE: Endowments at Nonprofit OrganizationsTABLE: Endowments at 72 organizations that support nonprofit groupsARTICLE: Strong Endowment GrowthARTICLE: Key Results of The Chronicle’s…
By Ben Gose
Senior Editor