Court Papers Link DiCaprio Fund to Malaysia Finance Scandal
Actor Leonardo DiCaprio’s environmentally focused foundation has been caught up in the federal investigation of a massive embezzlement case involving Malaysian sovereign-wealth fund 1MDB, writes The Hollywood Reporter.
Wounded Warrior Sticks With Accounting Rules That Drew Fire
New documents suggest the organization is doing little to satisfy critics who complain that it inflates program spending and understates administrative expenses.
By Timothy Sandoval
Contributor
Vanderbilt to Return 1933 Gift to Rename ‘Confederate’ Dorm
The private university in Nashville will pay $1.2 million to a donor organization to remove the word “Confederate” from the name of a campus residence hall, The Tennessean reports.
Opinion: Clinton Foundation Should Close if Hillary Wins
The charity’s fundraising represents “an inherent conflict of interest” for a potential Hillary Clinton administration, and it should make plans now to wind down if she is elected in November, The Boston Globe editorializes.
Arab-American Charity Loses Suit Over Bank-Account Closure
A federal jury decided Tuesday in favor of Bank of America in a case brought by Michigan-based aid charity Life for Relief and Development after the bank closed its account, reports the Detroit Free Press.
Philly Official Likens Ex-Mayor’s Nonprofit to ‘Slush Fund’
The city controller issued a report Tuesday questioning the use of hundreds of thousands of dollars by a City Hall-affiliated nonprofit during former mayor Michael Nutter’s tenure, The Philadelphia Inquirer and Philadelphia magazine write.
Survey Finds Big Nonprofit Investors Souring on Hedge Funds
Hedge funds’ high fees and lagging recent returns are prompting endowments and foundations to limit the funds’ place in their portfolios, Bloomberg reports, citing a new survey of large nonprofit investors.
Presidents and Faculty Gave Millions to Their Own Universities, Data Shows
New data from The Chronicle of Higher Education’s Almanac also shows that Stanford University raised $1.6 billion in private support, more than double the amount of any other university except Harvard, which raised $1 billion.
By dan.parks
Contributor
Hillary Clinton’s Tax Return Shows 10% Giving Rate in 2015
Tax forms made public Friday show the Democratic presidential nominee and former President Bill Clinton donated 9.8 percent of their $10.6 million in adjusted gross income last year, The Wall Street Journal and USA Today report.
Education Dept. Rejects Commercial College’s Nonprofit Bid
The agency said the Center for Excellence in Higher Education’s request for nonprofit status was aimed at avoiding strict federal regulations on for-profit colleges, The Chronicle of Higher Education and The Wall Street Journal report.
Lawsuits Target Private Colleges on Pension-Plan Fees
A lawyer who has pioneered legal claims over high 401(k) plan fees has turned his attention to the nonprofit world, representing employees of seven private and state universities alleging costly mismanagement of their retirement funds, The New York Times writes.
Donors Offer U.S. Wrestlers Big Paydays for Rio Gold
A group of wealthy former wrestlers who’ve made it big in finance are offering up to $500,000 to American grapplers competing at the 2016 Olympics, writes The New York Times.
Opinion: Assessing Think Tanks’ Big-Business Ties
A Tufts University professor and think-tank scholar examines The New York Times’s recent reporting on nonprofit policy institutes’ relationships with corporations in an online Washington Post commentary.
Faith-Based Tenn. Housing Group Faces Federal Investigation
The Securities and Exchange Commission is examining the Memphis-based Global Ministries Foundation’s use of city financing to buy federally subsidized apartment complexes that have drawn scrutiny for their poor living conditions, according to The Commercial Appeal.
Opinion: Why Philanthropy Needs to Embrace ‘Black Rage’
A Baltimore nonprofit leader argues in an essay on Medium that grant makers and nonprofits urgently need to reflect, and act upon, the anger in communities of color over inequality and racial violence.
Ga.-Based Global Health Charity Wins $2 Million Hilton Prize
The Task Force for Global Health, which has led collaborative efforts to tackle large-scale health issues affecting people in poverty, has been awarded the 2016 Hilton Humanitarian Prize, the Conrad N. Hilton Foundation announced Tuesday.