Kalamazoo’s $500 Million Bet on Philanthropy Raises Hopes — and Suspicions
With an initial infusion of $70 million from two local donors, the Michigan city has embarked on an ambitious and controversial effort to permanently supplement its tax revenues with a large endowment.
By Drew Lindsay
Senior Editor, Special Projects
Working With Donor-Advised Funds: The Basics
Donor-advised funds continue to boom. Here are answers to some frequently asked questions about receiving donations from the accounts.
Daily News Roundup: National Endowment for the Arts Chair to Step Down
In other articles, the CEO of the Hershey Trust resigns amid an inquiry into the organization’s board; the Kennedy Center is considering withdrawing arts and comedy awards it has given Bill Cosby; the president of George Mason University said some financial gift agreements the institution has accepted raise questions about donor influence; and other articles about Yale’s courting of Stephen Schwarzman, an investigation into a veterans charity’s fundraising expenses and more.
Daily News Roundup: Silicon Valley Fund CEO on Leave ‘Until Further Notice,” Says Board
Emmett Carson will continue to be paid while two law firms investigate the allegations. In other articles, the Yawkey Foundations is objecting to the renaming of a Boston street that had been named after philanthropist Tom Yawkey, who some say was a racist; Dallas considers its own memorial in light of the opening of the National Lynching Museum; an article looks at Tom Steyer’s war with Donald Trump; and much more about giving and innovation and nonprofit management.
Daily News Roundup: $70 Million Gift Goes to Houston Park Restoration
In other articles, the San Francisco Conservatory received a $46 million contribution; longtime philanthropists offer advice for new donors; the University of Louisville and its foundation have sued a former president of the university over alleged misuse of foundation money; an article examines how a progressive think tank handled sexual harassment allegations; and much more on big donations and management and nonprofit news.
Daily News Roundup: Silicon Valley Fund Widens Inquiry Into Workplace Complaints
Amid complaints from donors, the Silicon Valley Community Foundation has hired a second law firm to investigate a “toxic” work environment. In other articles, the Philadelphia school board has decided to accept a $25 million gift from Stephen Schwarzman for his former high school; the NRA has broken its fundraising record; a lawsuit is seeking details of a gift to George Mason University from the Charles Koch Foundation; and other articles about sexual harassment and giving and more.
Daily News Roundup: Huge Wealth Magnifies Silicon Valley Community Foundation Scandal
In other articles, a New Jersey legal case could prompt another battle over the separation of church and state; a Yale professor says nearly every country seems to be backsliding on human rights; new federal rules for funding teen-pregnancy programs favor abstinence; universities and charter schools get big gifts; outside donors such as the Koch brothers and the Chinese government get extra scrutiny at Texas universities; and much more about nonprofit news and arts and culture.
Daily News Roundup: Can Silicon Valley CEO Survive Scandal?
Emmett Carson is in the midst of a crisis over harassment claims about his chief fundraiser. In other articles, the chair of Save the Children is coming under criticism for how he dealt with a sexual-harassment scandal at the charity; Michael Bloomberg is spending $4.5 million to cover this year’s U.S. financial commitment for the Paris climate accords; Missouri Gov. Eric Greitens has been charged with a felony for tampering with computer data connected to a nonprofit donor list; and much more.
Daily News Roundup: Save the Children Chair Steps Down
Alan Parker resigned before his term ended, saying the nonprofit needed to rebuild trust. In other articles, complaints about sexual misconduct have tripled since the Oxfam scandal, says Britain’s Charity Commission; the Open Society Foundations may leave Hungary; a nonprofit created to pay Missouri Gov. Eric Greitens’s legal bills raised no money last month; artificial-intelligence researchers are making $1 million-plus at nonprofits; and other articles on big gifts and donor research and more.
Pledges to Federal Charity Drive Drop by Nearly 40%
The campaign brought in $101 million, a far cry from the peak of $283 million raised in 2009.
By Timothy Sandoval
Contributor
Daily News Roundup: Brown U. Gets $100 Million
The gift, from an alumnus, will go to a neuroscience institute. In other articles, President Trump’s NASA nominee allegedly used a nonprofit to benefit himself; accusations of bullying and inappropriate sexual comments have prompted an investigation at the Silicon Valley Community Foundation; employees at the Soros Foundation have unionized; Missouri Governor Eric Greitens is accused of misusing a charity donor list; and other articles about millennial donors and the arts and much more.
Daily News Roundup: Gates Adds $1 Billion More to Malaria Fight
The foundation grant will invest in research and development efforts through 2023. In other articles, the Art Institute of Chicago has landed gifts of $50 million and $20 million; Seattle public radio station KEXP receives $10 million; plus, news, features, and opinion about the endowment tax and American orchestras and Liberty University and more.
House Bill Would Require Charities to File Tax Forms Electronically
Supporters say the move would help state regulators identify fraud.
By Alex Daniels and Peter Olsen-Phillips
Daily News Roundup: Harvard, Yale, and Others Trying to Repeal Endowment Tax
Thirty colleges are aiming to help two members of the House (a Democrat and a Republican) find sponsors for a bill. In other articles, Amherst gets $100 million from an anonymous alum to match “gifts at very significant levels"; Sheldon and Miriam Adelson are giving $70 million to the Birthright Israel Foundation; Beyoncé donates $100,000 to historically black colleges; and articles about one of the world’s wealthiest charities and universal basic assets and more.
Daily News Roundup: Donors Are Going Back to Their Hometowns to Fix Them Up
Often they require a combination of philanthropy and investments with a social return. In other articles, the Ford Motor Company has agreed to pay the Abell Foundation and a technology firm to use a hybrid engine technology; Report for America, a nonprofit that works like AmeriCorps, plans to place 1,000 journalists in understaffed newsrooms by 2022; the Twin Cities is going informal, holding fewer black-tie events; and other articles about the Obama Foundation and data-analysis tools and more.
More Than Half of Nonprofits Aren’t Worried Tax Overhaul Will Dampen Giving
Still, one in five charities reports being concerned about the impact, according a new study from the Nonprofit Research Collaborative.
By Timothy Sandoval
Contributor