U.S. Museums Spend Billions on Expansions, Survey Finds
Twenty-six U.S. museums spent or pledged nearly $5 billion on expansions from 2007 to 2014, despite the recession, more than museums in 37 other countries in the survey combined, according to The Art Newspaper.
How Philanthropy Contributes to Wealth Inequality
In a conversation on the Tiny Spark podcast, Pablo Eisenberg, a veteran nonprofit activist and Chronicle columnist, says only 5 to 8 percent of the money philanthropy doles out goes to the neediest people.
By amy costello
Contributor
Federal Inquiry Into NYC Police Activity Expands to Include Mayor’s Former Nonprofit
Federal investigators are looking into whether real-estate developers and union leaders who donated to a nonprofit that supported the campaign and agenda of New York Mayor Bill de Blasio received special favors, according to the Wall Street Journal, citing unnamed sources.
Former Wounded Warrior CEO Says He Was ‘Shocked’ at Being Fired
In an hourlong interview with The Chronicle, Steven Nardizzi says trustees knew all along about spending and other activities that the news media have criticized him for.
By Timothy Sandoval
Contributor
Oil Firms That Backed Clinton Foundation Lobbied State Dept.
Major fossil-fuel companies that lobbied Hillary Clinton’s State Department on developing resources from Canada’s oil sands have also donated millions to her family charity, according to International Business Times.
N.Y. Nonprofit Sued Over Chemical Attack on Top Executive
The Queens charity leader who was doused with lye last year in what authorities allege was an attempt to cover up a $750,000 embezzlement is suing the organization’s board, claiming it negligently failed to prevent the assault, the New York Daily News reports.
Nonprofit Leader Allegedly Attacked in Embezzlement Cover-Up
A New York City charity’s former bookkeeper was indicted Tuesday for what authorities allege was a $750,000 theft and a chemical attack on the organization’s leader aimed at heading off discovery of the scam, reports The New York Times.
Miami Officials OK $49 Million Bailout for Science Museum
The loan, approved Tuesday by Miami-Dade County commissioners, is aimed at helping the Frost Museum of Science complete construction of a $305 million downtown building, a project held up by a dearth of private fundraising, the Miami Herald reports.
Calif. Man Gets 57 Months for $4 Million Nonprofit Fraud
Accountant Donald Gridiron was sentenced Tuesday to nearly five years in prison for stealing millions of dollars from a New Jersey megachurch and a California golf charity to feed a gambling habit, NJ Advance Media reports.
Colleges Defend Endowment Tax Break in Letters to Congress
In written responses to a Congressional inquiry into higher-education finances, the country’s wealthiest private universities characterized their tax-exempt status as crucial to their academic and research missions and campus upkeep, Bloomberg writes.
Baltimore Firms to Invest $69 Million to Juice Local Economy
Led by Johns Hopkins University, some two dozen businesses and institutions committed Monday to a three-year effort to build, hire, and buy locally as Baltimore rebuilds from rioting last April, The Wall Street Journal and The Washington Post write.
India’s Corporate-Giving Law Raises Money but Also Questions
Direct corporate philanthropy has spiked since the country enacted a law two years ago requiring large companies to donate at least 2 percent of their net profits to charity, but the rise has been accompanied by allegations of skewed giving and corruption, The Guardian writes.
As Conn. Mulls Endowment Tax, Fla. Invites Yale to Relocate
With Connecticut lawmakers considering a proposal to tax some investment profits on the university’s $26.5 billion endowment, Florida Gov. Rick Scott is beckoning the venerable New Haven institution to move south, reports The Washington Post.
5 Ways to Attract Gifts From Donor-Advised Funds
Experts share tips on how nonprofits can get more contributions from DAF owners.
By Alex Daniels
Contributor
Tenants Ousted Before N.Y. Habitat for Humanity Bought Buildings
A New York affiliate of nonprofit group paid developers millions of dollars in federal stimulus money for apartment buildings after low-income residents were pushed out of the properties, according to an investigation by ProPublica.
Wall St. Manager Was Duped Into Suggesting Foundation Invest in Alleged Fraud Scheme
James McIntyre, a managing director at Moore Capital Management, is the previously unidentified person who unwittingly recommended that a foundation affiliated with his hedge fund put nearly $25 million into an allegedly fraudulent investment scheme run by a private-equity executive, The New York Times reports, citing unnamed sources.