Oil-Price Drop Has Some Nonprofit Newsrooms Tightening Belts
Public broadcasters and nonprofit journalism outlets in the U.S. oil belt are bracing for funding cuts as lingering low prices buffet the economies of energy-producing states, Nieman Lab writes.
Correction: Funding for Nonprofit’s Google ‘Transparency’ Campaign
An official with the Campaign for Accountability, which has issued highly critical reports on Google’s ties to federal agencies and influence on internet-privacy policy, told SiliconBeat that the campaign is not a project of a fund that has received significant financial support from the Gates and Hewlett foundations, as the tech-news site had previously reported.
Fundraising Prowess Helps Modern Art Museum Sell Bonds for Expansion
The Museum of Modern Art has raised $650 million toward its second major expansion in 12 years, helping the New York institution secure additional financing for the project through tax-exempt bonds, Bloomberg writes.
Mass. Bill Would Tax Nonprofits on Newly Acquired Property
Massachusetts nonprofit leaders are protesting the proposal to keep some real estate purchased by tax-exempt groups on the property-tax rolls for four years after the deal, State House News Service reports.
Defunct Muslim Charity Admits Funneling $1.4 Million to Iran
A representative of the Islamic American Relief Agency, which was closed more than a decade ago over alleged ties to terrorism, acknowledged in federal court Wednesday that the group violated U.S. economic sanctions targeting Iran, reports the Associated Press.
Google Critic Reportedly Linked to Gates- and Hewlett-Funded Nonprofit
Click here for a correction and update of this post based on new reporting by SiliconBeat. The Campaign for Accountability, a watchdog nonprofit that has issued harsh reports on Google’s ties to federal agencies and policy making, is affiliated with a charitable fund that receives significant financial backing from the two big grant makers, according to tech-news site SiliconBeat.
Judge Ups Sentence for Detroit Clergyman in Charity Theft
After prosecutors appealed the Rev. Timothy Kane’s original 12-month sentence, calling it too light, the priest was resentenced Tuesday to three to 20 years in prison for stealing from an anonymously financed fund to help the region’s poor, reports The Detroit News.
Firms Doing Business With Calif. Hospital Pay CEO Millions
Mark Laret, the chief executive of UCSF Medical Center, has earned more than $5 million since 2007 for serving on the boards of two companies that have financial relationships with the nonprofit, University of California-affiliated hospital, the San Francisco Chronicle reports.
N.Y. Charity Chief Accused of Stealing Hundreds of Thousands
Authorities allege the former executive director of a nonprofit serving people with autism and other disabilities in New York City and Long Island siphoned money from the organization to pay credit-card bills and buy a million-dollar home, Newsday reports.
Met Museum to Lose at Least 100 Jobs in Belt-Tightening
The Metropolitan Museum of Art said Friday that 56 employees had accepted buyouts, with more job reductions and a trimmed exhibition schedule expected as the institution aims to head off $30 million in red ink, reports The New York Times.
Conn. Foundation Earmarks $1 Million to Counter Budget Cuts
The grants from the Hartford Foundation for Public Giving aim to assist Connecticut nonprofits buffeted by deep cuts in state spending, writes the Hartford Courant.
Grant Makers Are Uncertain About Socially Responsible Investing, Study Finds
Few organizations have formal policies about investing their endowments in ways that generate social returns, according to the Commonfund/Council on Foundations survey.
By Alex Daniels
Contributor
Warren Buffett Donates $2.9 Billion in Annual Stock Gift
The Bill & Melinda Gates Foundation and four grant makers associated with Warren Buffett’s family received Berkshire Hathaway shares worth $2.86 billion in the philanthropist and investor’s yearly charitable stock donation, Reuters and The Wall Street Journal report.
Suit Claims ‘Looting’ of Donations at Defunct Design Charity
A bankruptcy trustee responsible for recovering assets from Architecture for Humanity is seeking $3 million from the organization’s founders and board in a lawsuit alleging the nonprofit misused restricted donations to stay afloat, according to Fast Company.
Penn State Seeks Money From Sandusky Charity for Abuse Victims
The university filed a court claim for funds from insurance companies for the Second Mile, the youth nonprofit founded by convicted child molester Jerry Sandusky, to help pay a portion of the $92 million in settlements due to the former football coach’s victims, WJAC-TV reports.
Rockefeller Exec Outlines Wide Range of Climate Investments
The foundation, which helped pioneer impact investing, aims to seed or finance efforts to develop renewable-energy technologies, deliver clean electricity to rural India, and create insurance products for extreme-weather events in Africa, according to an interview in GreenBiz.