7 Things to Know About 2018’s Year-End Giving
Will overall fundraising perk up? Will more megagifts arrive? Will the “Trump bump” continue? Stay tuned.
By HEATHER JOSLYN
Contributor
Value of David Rockefeller Bequest to Family Foundation Hits $250 Million
The value of his holdings exceeded previous estimates, boosting the size of his bequest to the Rockefeller Brothers Fund, which has assets of $1.2 billion.
By Alex Daniels
Contributor
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.
90% of the Wealthy Give to Charity and 48% Volunteer, Study Says
The new U.S. Trust Survey also found that overall giving by the rich is on the rise, although affluent millennials give slightly less than other wealthy donors.
By Maria Di Mento
Senior Editor
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.
Foundation Official Wants Philanthropy to Use Money to Heal, Not Divide
In his new book, Decolonizing Wealth, Edgar Villanueva applies what he has learned as a top official at the Schott Foundation and a member of North Carolina’s Lumbee Tribe to envision a more democratic future for philanthropy.
By Tyler Nickerson
Contributor
Billionaire Is Devoting $100 Million to Curbing Drug Prices: Daily News Roundup
Former energy trader John Arnold’s focus on bringing down high prices has the drug industry rattled. In other articles, San Francisco’s tech leaders are in an uproar over a tax proposal to help the homeless; and at the Harvard admissions trial, emails were presented as evidence that the university favors people related to or of interest to big donors. Plus, additional news and features about sexual abuse at nonprofits, philanthropy under scrutiny, and more.
Gifts Roundup: Former Clinton Administration Official Gives $5 Million
Also, MIT and Harvard land $350 million and $100 million, respectively, and two other universities receive big gifts.
By Maria Di Mento
Senior Editor
Charities Again Holding Galas at Trump’s Mar-a-Lago: Daily News Roundup
A few charities that stopped holding galas at the Florida resort last year due to the president’s controversial comments are planning events there this winter. Plus, legal experts say the Heritage Foundation’s efforts to train and influence law clerks raises ethical issues; two New York museums say they will not use Saudi money for programs on Middle Eastern art; Chinese-Americans are gaining prominence as U.S. donors; and more news and articles on giving, ideas and innovation, and obituaries.
Elaborate Scam Aimed at Women’s March: Daily News Roundup
The fake events posted on Facebook to exploit people’s interest in politics and protests originated in Bangladesh. In other articles, Opportunity Zones give the rich a way to get tax breaks for spending money in low-income areas; new data show how orchestras are segregated by gender; three George O’Keeffe paintings deaccessioned by the Georgia O’Keeffe Museum in Santa Fe, N.M., could fetch $30 million at auction; and more about big donors and ideas and innovation.
NPR Hires Top News Executive: Daily News Roundup
Nancy Barnes, executive editor at the Houston Chronicle, will take over a year after Michael Oreskes stepped down over allegations of sexual harassment. Plus, bitcoin donations are puzzling to colleges; candidates for the University of Michigan Board of Regents are proposing plans to make the handling of endowment investments more transparent; data show that disaster aid in Houston didn’t go to people who most needed it; and more news and ideas, plus articles about Paul Allen’s legacy.
‘More Than Me’ CEO Leaves Her Post Temporarily After ProPublica Exposé: Daily News Roundup
The group’s board chairman has also stepped down. and several other investigations of the nonprofit are ongoing. Plus, George Mason University’s review of philanthropic giving and donor influence is finished, but the institution still has issues to resolve; a look at Priscilla Chan’s ambitious philanthropic plans; the #MeToo movement’s founder is trying to move beyond trauma; Jeff Bezos discusses charity versus government; and much more about people, innovation, and presidential politics.
Paul Allen’s $2 Billion in Lifetime Gifts Went to Eclectic Mix of Causes, From Brainy to Whimsical
Now the question is how much of his $20 billion estate is likely to go to philanthropic causes. As a signer of the Giving Pledge, he committed at least half his wealth to charity.
By Maria Di Mento
Senior Editor
Donors Pour $583 Million Into Artificial-Intelligence Programs and Research
An exclusive Chronicle tally shows that big tech pioneers like the late Paul Allen, Reid Hoffman, and Elon Musk, have spent huge sums of money to explore the promise of A.I., as well as the harm that it could do.
By Maria Di Mento
Senior Editor
MIT Lands $350 Million for Computing and Artificial-Intelligence Studies
The gift, from Stephen Schwarzman, aims to integrate computer science, artificial intelligence, data science, and related fields throughout the university, with a special emphasis on new discoveries and the ethical application of artificial intelligence.
By Maria Di Mento
Senior Editor