Charities Continue to Assess Losses in Investment Scandal

Nonprofit organizations affected by the Ponzi scheme allegedly undertaken by the investor Bernard L. Madoff continue to evaluate the financial losses, The Chronicle of Philanthropy reports.

Among recent articles elsewhere online:

The Fair Food Foundation, which works to improve food access and urban agriculture in Detroit and San Francisco, plans to close because Mr. Madoff handled its money, reports a New York Times blog. The organization began in 2007 with an annual budget of $12- to $20-million, the paper reports.

Among those institutions deeply affected by the alleged scheme was Yeshiva University, and an article in The Chronicle of Higher Education examines what college trustees can learn from the scandal. Mr. Madoff was a trustee and big donor to Yeshiva.

Also, a Boston family foundation considers how it will continue supporting the charities that have depended on it, after a $145-million loss due to the alleged scam, reports The Boston Globe.

In the Twin Cities, local charities were also affected, reports the Star Tribune.

(Free registration is required to view the Times and Globe articles, and a paid subscription or short-term pass is required to view the Chronicle of Higher Education article.)