86% of Wealthy Adults Say Giving Is Important
The U.S. Trust survey also finds that one in three adults with high net worth owns or is interested in social-impact assets.
By Maria Di Mento
Senior Editor
State Dept. Cleared Arms Sales to Clinton Foundation Donors
The State Department under Hillary Clinton’s leadership approved $165 million in U.S. weapons sales to 20 foreign governments that have donated to the Clinton Foundation, considerably more than those countries received prior to her tenure, according to an International Business Times investigation.
Opinion: Anti-Koch Campus Activists Seek to Silence Debate
Writing in the Wall Street Journal, an official with the Charles Koch Foundation decries what he terms “strong-arm tactics” by advocacy groups scrutinizing universities’ relationships with grant makers on political grounds.
Ivy League Presidents’ Pay Reaching Corporate-CEO Territory
The presidents of Columbia and Yale universities received multimillion-dollar payouts in 2013, reflecting a trend of Ivy League leaders’ compensation increasingly resembling that of top corporate executives, writes Bloomberg.
City Hall Budget Fight Hampers Funding for NYC Charities
Catholic Charities and other New York City social-service agencies are losing tens of thousands of dollars in city funds this summer due to a procurement dispute between Mayor Bill de Blasio’s administration and the City Council, writes the New York Daily News.
Audit Finds La. Charity Spent Grant Funds on Cruises and Games
A Louisiana legislative audit found that a largely government-funded New Orleans nonprofit that provided housing for people with disabilities and medical issues spent hundreds of thousands of dollars on travel, entertainment, and other inappropriate or inadequately documented expenses, The Times-Picayune reports.
Biggest Boston Family Foundations Double Assets in 5 Years
The five largest family philanthropies in the Boston area grew by hundreds of millions of dollars in 2013, reaching total assets of $3.5 billion, The Boston Globe writes.
Charity Led by NASCAR Star’s Ex-Girlfriend Faces Scrutiny
The Armed Forces Foundation, a Washington, D.C.-based charity supporting wounded veterans, has allegedly loaned money to and paid personal and business expenses for its president, Patricia Driscoll, the former girlfriend of NASCAR driver Kurt Busch, according to an ESPN investigation.
New Clinton Disclosure: $26 Million in Unreported Payments
The Clinton Foundation revealed Thursday that it has received as much as $26.4 million for speeches by given Bill, Hillary, and Chelsea Clinton since 2002, payments that were not included in donor lists the charity posts on its website, The Washington Post reports.
Minn. Sues Thrift-Store Chain Savers Over Charity Pitch
The state’s attorney general filed suit Thursday against international secondhand retailer Savers, alleging it is misleading shoppers about how much of the proceeds from donated goods goes to charity, the Minneapolis Star Tribune reports.
Va. Groups Nix Hospital Plan Despite $150 Million Pledge
The Virginia Commonwealth University Medical Center and Bon Secours Richmond Health System unexpectedly pulled out of efforts to develop a new regional children’s hospital Thursday, leaving a prominent local businessman’s promised gift for the project on the table, reports the Richmond Times-Dispatch.
S.C. City Weighs Business-License Fee for Some Nonprofits
A Columbia, S.C., councilman wants the capital city to levy business-license taxes on nonprofits that compete with similar for-profit firms, Columbia newspaper The State reports.
L.A. Adopts $15 Minimum Wage but OKs Delay for Some Nonprofits
The City Council approved a plan Tuesday to raise Los Angeles’s minimum wage to $15 an hour by 2020, giving labor activists their biggest victory to date in a nationwide campaign to boost stagnating pay at the lower rungs of the economic ladder, the Los Angeles Times writes.
GOP Call Grows for IRS Investigation of Clinton Foundation
Fifty-two House Republicans signed a letter asking the Internal Revenue Service to initiate a review of the Clinton Foundation’s tax-exempt status, Reuters reports.
Study: Less Than Half of Foundations Use Impact Investing
About 85 percent of the CEOs surveyed said financial returns were the most important consideration.
By Rebecca Koenig
Contributor
Back From Cuba, Minnesota Orchestra Reaches New Labor Deal
Fresh off a historic tour of the Caribbean country, the organization announced new deals with its musicians and conductor that continue its rebound from a bitter labor standoff that silenced the orchestra for 16 months, the Minneapolis Star Tribune reports.