Value of Donor-Advised Funds Soars Above $110 Billion
Grants made from funds to charity totaled more than $19 billion in 2017, an increase of nearly 20 percent over the previous year, according to the National Philanthropic Trust.
By Alex Daniels
Contributor
Harvard Medical School Gets $200 Million to Speed Up Research: Daily News Roundup
The money will go, in part, for data science and a lab space for biotech startups. In other articles, the Silicon Valley Community Foundation’s new CEO has been an executive with Arizona State and Stanford universities; and the Catholic Church has a history of moving priests accused of sex abuse into non-English-speaking immigrant communities, according to legal documents from child-abuse settlements that took place decades ago. Plus, more news.
Ex-Congressman Gets 10 Years for Stealing Charity Gifts: Daily News Roundup
Steve Stockman of Texas was found guilty of stealing hundreds of thousands and using it for personal expenses and his political campaigns. In other articles, a donor has withdrawn $25 million from a performing-arts center because its plans for expansion didn’t fit with his philanthropic priorities; a longtime CEO of a Louisiana hospital foundation has been fired after a third-party investigation found “a pattern of forgery and embezzlement of funds”; and more nonprofit news.
Election Results May Give Charities a Shot at Tax-Law Changes
One immediate goal is to delay new taxes on nonprofit employee fringe benefits, and some see a shot at reopening the debate on letting all taxpayers deduct their charitable giving.
By Alex Daniels and Julian Wyllie
Girl Scouts Sue Boy Scouts Over Name Change: Daily News Roundup
A trademark lawsuit says that changing the name just to “Scouts” would marginalize the female organization. In other articles, the head of the American Cancer Society has resigned, in part over concerns about commercial partnerships; philanthropist J.B. Pritzker won the race to be Illinois governor; voters approved a tax to benefit the homeless in San Francisco despite opposition by many billionaires; a billionaire’s estate will award prizes for research in brain diseases; and more.
Gates Foundation Spends $200M on Futuristic Toilet: Daily News Roundup
Poor sanitation kills half a million young children a year and costs $200 billion in health care and lost wages. Plus, emails suggest interior secretary Ryan Zinke continued to be involved in discussions of his family foundation’s property despite his pledge to recuse himself; billionaires are using their influence and donations to back candidates in favor of expanding charter schools; donors support University of Maryland president in controversy over football player’s death, and more.
How Political Differences Affect Philanthropy: Daily News Roundup
The more competitive the area, the less people give, a new study finds. Plus, a GoFundMe campaign for the Tree of Life synagogue has raised $1 million; the former Gates CEO Patty Stonesifer is stepping down from Martha’s Table; a white man is suing a Detroit museum of African-American history, saying he was fired because of race; and a representative for George Soros says he wants to appear on Fox News, but it won’t book him. Plus articles on giving and the election and nonprofits.
A strongly worded letter condemned the group for its efforts in the wake of football player Jordan McNair’s death. In other articles, new requirements for distributing federal funds to states for programs that help the poor has left a food pantry in Ohio struggling to keep up with demand; a Chicago psychiatric hospital is being investigated over reports that allege sexual abuse of children; and more articles about big gifts and grants and innovation.
Gates Foundation Is Holding Off On Work With Saudi Crown Prince’s Nonprofit: Daily News Roundup
It’s rethinking its work with the group in the wake of journalist Jamal Khashoggi’s murder. In other articles, Mark Zuckerberg saves $128 Million in Facebook holdings through regularly planned sale of stock to the Chan Zuckerberg Initiative; National Geographic takes a look at how the Wyss Foundation’s $1 billion pledge to environmental causes may be used; almost $1 million was stolen from Jewish a charity in Fort Worth, Tex.; plus more news and articles about innovation and arts groups.
Philanthropist Plans to Give $1 Billion for Conservation: Daily News Roundup
Hansjörg Wyss explains his decision in a New York Times opinion piece. In other articles, Google.org is giving $25 million to humanitarian projects that use artificial intelligence; UCLA got $25 million for Parkinson’s disease research; the Ford Foundation CEO discusses how the #MeToo movement strengthened his resolve to work toward a more just world; what’s wrong with philanthropists’ efforts to fix education; and more opinion pieces and articles on innovation and cultural groups.
Russian Operative Looked at U.S. Nonprofits’ Cyberdefenses in Graduate School: Daily News Roundup
As a student at American University, Maria Butina gathered information on media-freedom and human-rights groups. In other articles, people who live in politically divided counties give less to charity; Fifth Third Bancorp commits $2 billion more to greater Chicago; tech billionaires continue their fight over raising taxes to help the homeless; Rajiv Shah talks about the Rockefeller Foundation’s new areas of focus and strategies. Plus, more news and articles on innovation.
Shooter’s Rants on Social Media Were Aimed at Jewish Agency That Aids Refugees: Daily News Roundup
HIAS is one of nine agencies that has a contract with the State Department to help refugees acclimate to the United States. Plus, Muslims have raised $110,000 for the Pittsburgh synagogue victims; Parkland families are creating memorial funds and activist organizations in memory of those who lost their lives in the shooting; and much more about HIAS, big gifts and grants, and giving and the wealthy.
Paul Allen’s Sister Is Executive and Trustee of Late Billionaire’s Estate: Daily News Roundup
Jody Allen is the former CEO of Vulcan, her brother’s umbrella company. Plus, Trump’s lawyer says in court that nobody wanted Trump’s portrait so his foundation had to buy it; two trustees leave ‘More Than Me’ nonprofit and a donor suspends a contribution; a look at a basic-income approach to housing assistance; the American Cancer Society is allowing groups that raise money to put the names of loved ones on grants; and much more news and articles on ideas, opinions, and innovation.
Trump Foundation Faces N.Y. Attorney General in Court: Daily News Roundup
The grant maker is requesting a lawsuit be dismissed that alleges the organization along with Trump, his sons Eric and Donald Jr., and daughter Ivanka violated state and federal laws. Plus, the British arm of Oxfam has seen a spike in claims of sexual abuse; religious groups and atheists are clashing over a longtime tax break that gives religious leaders tax-free housing allowances, costing taxpayers hundreds of millions of dollars annually; and more news and features about cultural groups.
The bulk of the money will be in the form of loans and equity; $16 million will be philanthropy. Plus, some Mega Millions players say they would give to charity if they won; the D.C. attorney general begins an investigation into sex abuse by Catholic priests; U.S. regulators offer to help a new nonprofit drug company backed by some of the country’s top hospitals; after an explosive device was found in George Soros’s mailbox, his foundation denounces the “politics of hate"; and more.
Explosive Device Found Near George Soros’s Home: Daily News Roundup
No one was hurt; the motive was unclear. In other articles, the wife of the former president of the University of Oregon denies a new book’s claim that Phil Knight threatened to withhold funds from the university because of a dispute over workers’ rights; a $120 million gift from a Canadian company will create a foundation to support youths; and Ryan Murphy gives $10 million to a hospital that treated his then-2-year-old son for cancer. Plus, more about ideas and innovation and cultural groups.