Ex-Wall St. Executive Admits $25 Million Foundation Fraud
Former private-equity manager Andrew Caspersen pleaded guilty Wednesday to cheating investors, including an industry peer’s charitable foundation, out of tens of millions of dollars to feed what he called an uncontrollable gambling habit, Reuters reports.
Bill Would Force Red Cross to Open Its Books to Greater Scrutiny
Sen. Charles Grassley of Iowa, a longtime critic of the charity, is pushing legislation he says would make its activities more transparent.
By Rebecca Koenig
Contributor
GOP Congressman Targets Foreign Donations to Foundations
Rep. Louie Gohmert’s bill — titled the Contributions Legally Interdicted from Noncitizens to Our Nonprofits, or Clinton, Act — would bar foundations with ties to former high-ranking public officials from accepting gifts from individuals linked to governments abroad, Roll Call reports.
N.J. Budget Cuts Charity-Care Spending by $200 Million
The spending plan signed late last month by Gov. Chris Christie allocates 40 percent less money to hospitals to provide free and discounted care to uninsured and low-income patients, Modern Healthcare reports.
N.Y. Campaign Body to Examine de Blasio-Linked Nonprofits
The city’s Campaign Finance Board will look into whether nonprofits set up to advance Mayor Bill de Blasio’s policy agenda transgressed rules on political fundraising and spending, the New York Post writes.
One Third of Nonprofits Say Overtime Rules Will Force Staff Cuts
Nonprofit leaders say they support expanded overtime pay in theory but warn the new federal regulations will result in job losses and reduced services, according to a survey by the National Council of Nonprofits.
By Rebecca Koenig
Contributor
San Francisco Mulls ‘Tech Tax’ to Subsidize Programs for Needy
A group of nonprofit activists and city supervisors is pushing a payroll levy on technology companies to help pay for affordable housing and programs for the homeless, the growing need for which is viewed by many in the area as a byproduct of the tech boom, writes The New York Times.
Famed N.Y. Architects Get Obama Library Design Commission
The Barack Obama Foundation announced the selection Thursday of renowned husband-and-wife team Tod Williams and Billie Tsien to design the $500 million Obama Presidential Center in Chicago, the Chicago Tribune writes.
Court Stops Construction of Diller’s $130 Million N.Y. Park
A New York State appeals court granted a preliminary injunction Thursday temporarily halting work on the Hudson River park project financially backed by billionaire media mogul Barry Diller, writes The New York Times.
Trump Used Foundation Money for Charity-Auction Purchase
Tax experts tell The Washington Post the presumptive Republican presidential nominee’s use of Donald J. Trump Foundation funds to cover the $12,000 bid for sports memorabilia at a Susan G. Komen benefit four years ago may have violated Internal Revenue Service rules on “self-dealing” by charities.
Prospects Still Dim for Ex-Va. Governor’s Slavery Museum
Former governor Douglas Wilder’s attempt to resurrect his planned United States National Slavery Museum in Richmond, Va., appears no closer to fruition than his original proposal, which foundered after more than two decades of planning and fundraising, writes The New York Times.
L.A. Voters to Decide on $1.2 Billion Fund to Help Homeless
The Los Angeles City Council voted unanimously Wednesday to put a bond measure aimed at financing a decade’s worth of programs to combat the city’s homelessness crisis on the November ballot, reports the Associated Press.
From the Archives: A Look Back at the Philanthropy of Trump and Clinton
With the presidential contenders’ charitable work (or lack thereof) drawing intense scrutiny on the campaign trail, we look back to past Chronicle coverage of Donald Trump’s and Hillary Clinton’s philanthropy.
Minn. Charity Leader’s Son Convicted in Fraud Conspiracy
A federal jury found Minneapolis police officer Jordan Davis guilty Friday of participating in a theft scheme to which his father, longtime Community Action of Minneapolis CEO Bill Davis, admitted in court earlier this month, the Star Tribune reports.
Founder of Schools Nonprofit Enters 2017 Race for L.A. Mayor
The candidacy of Steve Barr, former leader of charter-school network Green Dot, raises the potential for education to take center stage in next year’s city election, the Los Angeles Times writes.
Charity Loophole Opens Way for Import of Endangered Animals
Hunters, breeders, and attractions like zoos, circuses, and theme parks have been able to get around federal restrictions on the import of endangered species by making donations of a few thousand dollars to conservation charities, Reuters reports.