Vermont Fund Helps Students From Asia
The Freeman Foundation in Stowe, Vt., has donated $7.75-million to create a revolving loan pool to help Asian students studying at U.S. colleges and universities. The Asian Students in America-Higher Education Loan Program will provide interest-free loans to 1,400 students from Indonesia, Korea,…
Church Gifts Up; Donations to Needy Off
Gifts to Christian churches in the United States continue to grow, according to a new study. But the churches are collecting less money for “benevolences,” programs that help the needy around the country and abroad. The 1998 edition of the Yearbook of American & Canadian Churches, prepared by the…
By Debra E. Blum
Contributor
Chancellor to Give U. of Denver Land Valued at $25-Million
Several non-profit organizations have received big gifts. * The chancellor of the University of Denver, Daniel L. Ritchie, has promised land valued at $25-million to the institution; proceeds from the land’s sale will be used to bolster the varsity athletics program as the university prepares to…
Philanthropy Should Focus on Gap Between Rich and Poor, Report Says
Non-profit groups should encourage Americans to give a greater share of their income to charities, and foundations and corporations should also give much more to organizations that help the poor, says a draft of a report written by a group of about 100 grant makers, charity leaders, government…
By Debra E. Blum
Contributor
Foundations Go to Washington and Learn the ABC’s of Lobbying
More than 2,000 grant makers came to Washington last week and got an education in how to lobby on Capitol Hill. Speaking at the annual conference of the Council on Foundations, Rep. David E. Skaggs, a Colorado Democrat, told foundation leaders: “Each of you have a pretty compelling claim to make on…
By Jennifer Moore
Contributor
A Wake-Up Call for Foundations
Grant makers urged at meeting to be more global and more vocal Grant makers were urged to pay greater attention to global issues at the annual meeting of the Council on Foundations, held here last week. At the same time they were told to keep their eye on domestic politics on Capitol Hill, where…
In 1947, William Larimer Mellon, Jr., heir to the Mellon oil and banking fortune, read an article in Life magazine about a hospital in Africa founded by Albert Schweitzer. It changed his life. Then 37, Mr. Mellon, a cattle rancher, sold his Arizona property, enrolled in medical school, and, less…
Charitable Deductions Up Sharply, IRS Says
Preliminary statistics released by the Internal Revenue Service show that the deductions Americans claimed for charitable contributions rose from $75-billion in 1995 to an estimated $84.3-billion in 1996, a rise of 12.4 per cent (see chart at right). The jump was nearly twice as high as the 6.3 per…
Guggenheim Gets Pledge of $50-Million; Other Gifts
A trustee of the Solomon R. Guggenheim Museum, in New York, has pledged $50-million to the institution’s foundation. Peter B. Lewis, chairman of the Cleveland-based insurance company Progressive Corporation, had promised $10-million in 1995 to refurbish the museum’s theater and to endow educational…
At a Glance: National Philanthropic Trust
Purpose: Established in 1996 by the Pitcairn Trust Company in Jenkintown, Pa., to help donors give cash and appreciated assets to charity. Donors to the non-profit trust -- which is set up much like a community foundation, although it does not focus on any one geographic region -- can take a tax…
Charitable Fund With Commercial Ties Seeks Its Niche in Philanthropy
In the early 1990s, Robert and Sandra Kantor of Sun Valley, Idaho, began looking for a simple way for Robert’s parents to convert about $1-million of their assets -- including some real estate -- into tax-deductible dollars that would be channeled to charity. His parents were particularly…
By Debra E. Blum
Contributor
Cross-Country Tour-Bus Driver Among 14 Honored as ‘Points of Light’
Following are the people and organizations that have most recently been named to receive President Clinton’s daily “Points of Light” award. The awards, which are given to those who have done exemplary volunteer work, take their name from President Bush’s description of people who do community…
Report Says Giving in Connecticut Is Too Low
While Connecticut has the nation’s highest per-capita income, it ranks 36th in charitable giving per person, a new study by an organization of grant makers has found. Using data from federal tax returns filed with the Internal Revenue Service, the report said that among state residents who itemized…
Hotel Sale May Help 2 Family Foundations
Two family foundations in Portland, Ore., stand to receive an estimated $90-million infusion from the sale of a hotel owned by the funds’ founders. After the sale is completed on April 21, 80 per cent of the proceeds from the sale of the Claremont Hotel and Resort, in Berkeley, Cal., will go to the…
End of Estate Dispute Aids New Foundation
The resolution of a bitter legal battle is expected to pave the way for the Jack Kent Cooke Foundation to receive the bulk of the late media mogul’s estate, which is believed to be worth at least $500-million. The estate of Mr. Cooke, who owned the Washington Redskins, will reportedly give his…