Daily News Roundup: U. of Michigan Donor’s Family Reaps Benefits From University Investments
An alumnus helped support a trip to Paris for the football team after the university had invested $100 million in his son’s private-equity funds. In other articles, an assistant to a pastor of an iconic evangelical church outside Chicago says he sexually harassed her; a religious group is facing protests and lawsuits over its work with migrants and foster children; and much more.
Daily News Roundup: DAF Loophole Lets Billionaires Slash Taxes
People who give to donor-advised funds are rewarded for good intensions, but critics see opportunities for abuse. Another article on DAFs says cryptocurrency may account for a surge in assets at the Silicon Valley Community Foundation. Plus, read about a shelter worker who has been charged with molesting eight migrant children; a hedge-fund billionaire who is spending big on veterans but drawing criticism; and other articles on big gifts, corporate philanthropy, and more.
Daily News Roundup: Nonprofits Hope Rebooted Silicon Valley Fund Will Focus on Local Needs
As the Silicon Valley Community Foundation searches for new leaders after a harassment scandal, nonprofits urge a local focus on poverty, health, transportation, and the environment. In other articles, Ted Cruz has introduced a bill to repeal part of the GOP tax plan that affected nonprofits; an opera director steps down amid harassment allegations; and more articles about social innovation, fundraising, giving, and the arts.
Nonprofits Fear Impact of Trump Administration Plan to Cut Capital-Gains Tax
One tax expert called it a “double whack” for charities already likely to be hurt by the tax law enacted in December, but others say the change may actually increase giving.
By Alex Daniels
Contributor
Daily News Roundup: Amid Rumors of Sex Abuse, Cardinal McCarrick Was Prolific Fundraiser
He raised millions to relieve poverty and support immigration. In other articles, a Chicago shelter accused of mistreating migrant children, said an internal investigation found no such evidence; Clinton group deal has slashed the price of an HIV test considered the gold standard, giving aid groups hope; a school district in the Houston area has accepted donations of guns, ammunition, and weapons for its security staff; plus more news and features.
Daily News Roundup: Trump Administration May Bypass Congress to Grant Big Tax Cut for the Rich
The Treasury Department is looking into whether to use regulatory powers to let taxpayers adjust the initial value of an asset based on inflation. In other articles, a charity with a troubling track record has become the largest provider of foster homes for unaccompanied minors; a report by the British parliament says the aid sector is guilty of “complacency verging on complicity” in the sex-abuse scandal; and much more about where tech titans are giving, other big philanthropy, and news.
Daily News Roundup: Catholic Cardinal Resigns Amid Sex-Abuse Allegations
Pope Francis has effectively taken away Theodore McCarrick’s title even before church officials have investigated the accusations. In other articles, Cleveland Orchestra concertmaster William Preucil has been suspended amid sexual-misconduct allegations; last year’s tax-cut law included an act that allows rich investors and businesses to erase their tax obligations by pouring big sums into poor communities; plus other articles on donor-advised funds, conductor salaries, and much more.
Daily News Roundup: Sexual Harassment Is Rife Among Classical Musicians
More than 50 artists share their ordeals with harassment and assault at all levels of the profession — occurring in dressing rooms, during one-on-one lessons, and even in the wings during performances. In other articles, Catholic hospitals are shaping health care in rural America; an HIV program Trump aims to cut wins high praise from researchers and health officials; and more articles about giving and other news.
Daily News Roundup: Silicon Valley Nonprofits Are Having to Learn New Ways to Attract Local Donors
Charities are finding ways to be “incubators” and “disrupters,” not just provide services, to get the attention of the millionaires and billionaires in the tech industry. In other articles, some of the big stories about EPA chief Scott Pruit’s alleged misconduct came to light because of a Freedom of Information Act request from the Sierra Club; more corporate CEOs are taking stands on social issues; and other articles about the IRS’s donor-disclosure decision and about big giving.
Daily News Roundup: Koch Foundation Will Post College Gift Agreements Online
Amidst of a controversy over a George Mason University gift arrangement that allowed the grant maker possible influence over faculty hiring, the foundation says it will make all future multiyear agreements available online. In other articles, the Montana governor has filed suit against the Trump administration to keep it from allowing some nonprofits to refrain from disclosing big donors; and Raices will spend $3 million on flights and housing for migrant families. Plus, more news and opinion.
Daily News Roundup: How a Group Working for Migrants Is Using a $30M Windfall
Raices is making plans for the $21 million raised on Facebook and the millions more that are still flowing in. In other articles, a New York nonprofit that takes care of immigrant children has tripled its revenue; lawyer Jay Sekulow is using the Trump administration’s actions to raise money for his own group; the University of Wisconsin at Oshkoch Foundation has filed an $18.5 million claim against the UW system; and other articles about foundations and big gifts and museums and more.
Daily News Roundup: The Rich Differ With Advisers on How Tax Law Will Affect Giving
About 58 percent of wealthy people say tax policy won’t change their giving, but wealth managers and others disagree. In other articles, American women are rushing in to help separated families; some migrant families are reunited at a nonprofit in Texas; after being fired over sexual-harassment allegations, KIPP co-founder starts new education group; Steve Bannon plans to set up a foundation to boost the far right in Europe; and other articles about innovation, the arts, young people, and more.
Daily News Roundup: Dozens of Fake Veterans Charities Pocket the Money They Raise, Says FTC
The Federal Trade Commission and others have worked together on more than 100 actions against phony nonprofits, which have collected tens of millions in cash and goods. In other articles, a Senate panel approved the Trump administration’s IRS nominee along party lines; a nonprofit for immigrants refuses $250,000 from Salesforce.com; resettlement charities fold or shift their focus as the number of migrants drops; plus more articles on innovation, nonprofits and the law, and opinion.
Daily News Roundup: N.Y. Is Investigating Trump Foundation, Sources Say
The state’s Department of Taxation and Finance is looking into whether the grant maker violated state laws. In other articles, the Interior Department is launching an inquiry into a real-estate deal linking the Zinke Foundation and the chairman of Halliburton; the arrest of alleged Russian agent Maria Butina has drawn attention to a firearms-advocacy group; and more news and features.
Foundations Break Their Grant Guidelines and Speed Cash to Immigrant Needs
Trump administration policies have prompted some grant makers to pump up their giving and stray outside their usual funding areas for an emergency response.
By Alex Daniels
Senior Editor, Foundations
Daily News Roundup: Treasury Defends Decision to Stop Requiring Some Groups to Disclose Donors
The Treasury Department says people can still find donor information from legally available sources. In other articles, the legal-services nonprofit Raices, which raised $20 million to help immigrant families, outlines its plans to pay the bonds for detained women and children; Bill Gates invests to try to speed up research on Alzheimer’s disease; and more about Bill Gates, government and politics and other news and features.