Wilson Fund to Spend Down $1 Billion Windfall in 20 Years
The Ralph C. Wilson Jr. Foundation, which saw its assets spike from $4.8 million to $1.2 billion last year with the sale of its late founder’s NFL team, plans to fully exhaust its resources over the next two decades, according to The Buffalo News.
Russian Tech Tycoon Pledges $100 Million for ET Search
The 10-year commitment by Internet billionaire Yuri Milner will support an unprecedented expansion of scientists’ search for signs of extraterrestrial life, the San Francisco Chronicle and the Associated Press report.
N.Y. Regents OK Gift-Driven Name Change for Upstate College
The board that oversees higher education in New York State voted Monday to approve a plan by Paul Smith’s College to add philanthropic patron Joan Weill to its name in honor of a $20-million donation, the Albany Times Union reports.
Arnold Foundation Puts $5 Million Into Research on Rising Drug Prices
The Laura and John Arnold Foundation has awarded a $5.2-million grant to a Boston nonprofit that assesses drug pricing, adding the Houston philanthropists to a growing movement challenging soaring prescription costs, The Wall Street Journal writes.
U. of Miami Proves the Power of Hispanic Donors
Departing President Donna Shalala and her outside-the-box choice to be her top fundraiser secured 28 gifts of at least $1 million from Hispanics, totaling $61.5 million.
By Megan O’Neil
Contributor
Gifts Roundup: Montclair State Gets $20 Million, and Drew Brees Donates $1 Million to Purdue
Other notable gifts include $10 million to Belmont University for scholarships for students in public high schools.
By Rebecca Koenig
Contributor
Legendary NYU Fundraiser Pushes Higher Standards for Nonprofits
As Naomi Levine leaves her position at the university’s center for philanthropy, she wants to see better oversight and more professional practices.
By Holly Hall
Contributor
$20 Million Weill Gift Could Rename Upstate N.Y. College
Paul Smith’s College, a small, private institution in the Adirondacks, is seeking state and judicial permission to change its name to Joan Weill-Paul Smith’s College in exchange for the pledge by Ms. Weill and her husband, former Citigroup chief Sanford Weill, reports the Adirondack Daily Enterprise.
Fidelity and Schwab Report Surge in Grants From Donor-Advised Funds
Both organizations say that grants rose at least 30 percent annually.
By Alex Daniels
Contributor
Anonymous $34-Million Donation Aids Oakland Nonprofits
The San Francisco Foundation is distributing $34 million from an unnamed benefactor among more than 15 organizations providing health care, affordable housing, and other social services in low-income communities in Oakland, reports the San Francisco Chronicle.
Gifts Roundup: $60 Million to U. of Michigan for Entrepreneurship
Also included: a $1 million gift to Rutgers Law School to start a summer fellowship for public-interest law.
By Rebecca Koenig
Contributor
Starbucks CEO Commits $30 Million to Youth Jobs Effort
Howard Schultz is spearheading an effort by major corporations to hire 100,000 young workers from minority and low-income communities over the next three years, The Wall Street Journal and The New York Times write.
$65 Million Gift to Create Endowment for Park Avenue Armory
The donation from the foundation of a late armory patron, Airstream trailer mogul Wade Thompson, will establish an endowment for programming and educational efforts at the New York City arts center, reports The New York Times.
Montclair State U. Gets $20 Million Gift for Business School
The anonymous donation announced Wednesday will support expansion of the New Jersey institution’s School of Business, NJ Advance Media writes.
Emirati Mogul Launches Foundation With $1 Billion Pledge
Abdullah al-Ghurair, one of the most prominent businessmen in the United Arab Emirates, has committed $1.1 billion — a third of his family’s fortune — to a new education-focused charity, Emirates-based daily The National and the Associated Press write.
Bill and Melinda Gates: Big in Philanthropy, Big on Facebook
Richard Branson and hedge-fund manager George Soros also scored high in a study of social-media clout among the world’s most generous people.
By Megan O’Neil
Contributor