Finance Firms Battle for Growing College-Endowment Business
Managing university endowments has emerged as fertile growth territory for banks and investment firms, which now oversee about $100 billion in such assets, writes Bloomberg.
Firm With Ties to Chelsea Clinton Manages Foundation Assets
Summit Rock Advisors, a New York investment firm whose managing director is a longtime friend of Ms. Clinton’s, was selected by the Clinton Foundation in 2014 to oversee the charity’s now-$250-million endowment, reports The Wall Street Journal.
Building a $100 Million Proposal and Inviting the World to Listen In
A small Detroit charity going after the MacArthur Foundation’s big-idea 100&Change grant is tracking its progress in a weekly podcast.
By Megan O’Neil
Contributor
Former Wounded Warrior CEO Accuses Board of Dishonesty About State of Charity’s Finances
Charity officials deny the accusation and say the group is still developing its budget for 2017.
By Timothy Sandoval
Contributor
Mission Focus Can Put Pay Squeeze on Nonprofit Employees
In light of new federal regulations expanding eligibility for overtime pay — and many charities’ opposition to the changes — The Atlantic magazine looks at the forces putting pressure on nonprofit workers to put in longer hours for less money.
Orlando Hospitals Won’t Bill Pulse Survivors for Treatment
Nonprofit medical centers that treated victims of the worst mass shooting in U.S. history said Wednesday that people hurt in the June 12 attack and the families of those killed will face no out-of-pocket costs, the Orlando Sentinel reports.
Chelsea Clinton to Remain on Foundation’s Board
The Clinton Foundation said Wednesday that the former first daughter will retain a role with the family charity even if her mother is elected president, The Wall Street Journal reports, while Hillary Clinton fired back on CNN against claims that she favored foundation donors as secretary of state.
Duke U. Lays Claim to $10 Million From Oilman’s Estate
The university filed probate-court papers Tuesday seeking more than $9.9 million in what it says were unfunded pledges made by oil and gas magnate Aubrey McClendon before his death in March, reports The Wall Street Journal.
Clinton Met With Scores of Donors to Foundation While at State
More than half of the 154 people from outside government with whom Democratic presidential nominee Hillary Clinton met while serving as secretary of state were donors to her family’s charity, the Associated Press reports, citing State Department calendars from her tenure.
Foundation Investment Returns Fall, but Spending Rate Remains Steady
Private foundations saw zero growth on endowment investments in 2015 and community foundations lost 1.8 percent, according to a new study.
By Megan O’Neil
Contributor
Studies Examine Why People Give Differently Than They Invest
A quartet of academics specializing in marketing and behavior write in MarketWatch about their research comparing people’s decision making on charitable donations and investments.
Emails Show More Clinton Fund Donors Sought State Dept. Help
The latest batch of internal State Department communications released by conservative advocacy group Judicial Watch shows a pattern of Clinton Foundation supporters seeking meetings and other assistance from the agency when it was led by Hillary Clinton, reports The Washington Post.
Business Ties Could Present Conflicts for Big Hospitals
The burgeoning size and vast business relationships of many nonprofit hospitals pose unique challenges for the institutions’ administrators and trustees in combating appearances of impropriety, writes The Wall Street Journal.
Experts Question Ethics of Breitbart Editor’s Fundraising
Breitbart News editor and conservative provocateur Milo Yiannopoulos raised at least $100,000 for scholarships for white men in an unethical and “possibly illegal” way, according to The Daily Beast.
Clinton Foundation to Curb Fundraising if Hillary Is Elected
The charity said Thursday that it will eschew all donations from corporations and foreign entities if Hillary Clinton wins the presidency and that next month’s 12th annual Clinton Global Initiative meeting will be the last, the Associated Press and CNN report.
Nonprofits Face New Requirements in Financial Statements
The changes by the Financial Accounting Standards Board are meant to make information clearer for creditors, grant makers, auditors, and others that review the documents.
By Timothy Sandoval
Contributor