Hospital Deal Creates $100 Million Mental-Health Institute
The foundation and facility to study, prevent, and treat mental illness is a byproduct of the newly cemented merger of two West Coast Catholic chains, which now form the country’s third-largest nonprofit medical network, Orange County Business Journal and the Associated Press write.
Ex-Wall St. Executive Admits $25 Million Foundation Fraud
Former private-equity manager Andrew Caspersen pleaded guilty Wednesday to cheating investors, including an industry peer’s charitable foundation, out of tens of millions of dollars to feed what he called an uncontrollable gambling habit, Reuters reports.
Data Plus Dance Produces Record Season for Boston Ballet
The 53-year-old troupe is crediting data- and digital-driven improvements to its ticketing and marketing techniques for record revenues and its best attendance figures in more than a decade, writes The Boston Globe.
GOP Congressman Targets Foreign Donations to Foundations
Rep. Louie Gohmert’s bill — titled the Contributions Legally Interdicted from Noncitizens to Our Nonprofits, or Clinton, Act — would bar foundations with ties to former high-ranking public officials from accepting gifts from individuals linked to governments abroad, Roll Call reports.
N.J. Budget Cuts Charity-Care Spending by $200 Million
The spending plan signed late last month by Gov. Chris Christie allocates 40 percent less money to hospitals to provide free and discounted care to uninsured and low-income patients, Modern Healthcare reports.
N.Y. Campaign Body to Examine de Blasio-Linked Nonprofits
The city’s Campaign Finance Board will look into whether nonprofits set up to advance Mayor Bill de Blasio’s policy agenda transgressed rules on political fundraising and spending, the New York Post writes.
One Third of Nonprofits Say Overtime Rules Will Force Staff Cuts
Nonprofit leaders say they support expanded overtime pay in theory but warn the new federal regulations will result in job losses and reduced services, according to a survey by the National Council of Nonprofits.
By Rebecca Koenig
Contributor
Opinion: Include Fundraising Support in ‘Capacity Building’
The growing tide among foundations to help their nonprofit grantees cover overhead expenses should be extended to include financial support for solicitation efforts, Charity Defense Council head Dan Pallotta writes in the Harvard Business Review.
New Arrival Fuels Debate: Has Boston Reached Peak Nonprofit?
The Boston Globe looks at whether the region has become saturated with groups offering similar services and spreading donation dollars too thin, in an article focusing on the arrival of a college-readiness charity that has secured significant backing from the financial sector.
San Francisco Mulls ‘Tech Tax’ to Subsidize Programs for Needy
A group of nonprofit activists and city supervisors is pushing a payroll levy on technology companies to help pay for affordable housing and programs for the homeless, the growing need for which is viewed by many in the area as a byproduct of the tech boom, writes The New York Times.
Trump Used Foundation Money for Charity-Auction Purchase
Tax experts tell The Washington Post the presumptive Republican presidential nominee’s use of Donald J. Trump Foundation funds to cover the $12,000 bid for sports memorabilia at a Susan G. Komen benefit four years ago may have violated Internal Revenue Service rules on “self-dealing” by charities.
Tech Money Gets Behind ‘Accelerator’ for Nonprofit Startups
Fast Forward, which assists nonprofits developing products and data analytics to address social problems, has drawn $1.25 million in philanthropic funding from a roster of tech and venture-capital heavyweights that includes Google.org and the Omidyar Network, TechCrunch writes.
L.A. Voters to Decide on $1.2 Billion Fund to Help Homeless
The Los Angeles City Council voted unanimously Wednesday to put a bond measure aimed at financing a decade’s worth of programs to combat the city’s homelessness crisis on the November ballot, reports the Associated Press.
U. of Maryland Foundation Joins Fossil-Fuel Divestment Push
The university affiliate that oversees the system’s $1 billion endowment will withdraw all direct investments in coal, oil, and natural gas and appoint a staff member to focus on financial opportunities in renewables, The Baltimore Sun reports.
Study Gives Top Human-Rights Groups Low Marks on Transparency
Human Rights Watch, the United States Institute of Peace, and the Open Society Foundations ranked near the bottom in the study by watchdog group Transparify, which rated 200 think tanks and advocacy nonprofits on their level and quality of donor disclosure, the Thomson Reuters Foundation writes.
How a Nonprofit Earned Big by Charging for Memberships
Immigrant-rights group CASA brings in hundreds of thousands of dollars a year by charging a membership fee for services.
By Timothy Sandoval
Contributor