Daily News Roundup: Airbnb to Help People Displaced by Hurricane Florence Find Places to Stay
The company has activated its “response tool” so hosts can open their homes to people who have been evacuated and relief workers. Plus, St. John’s College has a philanthropy-centered plan to cut tuition; the president of Texas Tech talks about the loss of a $10 million gift; tech entrepreneurs are trying to make money while helping people do things like make down payments on new homes; and much more about big donors, philanthropy and government, and cultural groups.
When Gifts Soar, Charities Often Sock the Extra Money Away
When charities bring in more than they did the year before, they spend only about a quarter on services and sock away most of the rest.
By Alex Daniels
Contributor
Most grant makers would be better off using basic investing strategies rather than relying on active money managers and exotic financial instruments, the data shows.
By Marc Gunther
Contributor
Corporate and Charity Leaders Exchange Advice
Nonprofits and companies have much to gain from getting to know each other better. The Chronicle asked leaders experienced in corporate-nonprofit partnerships for advice on how best to support each other.
By Megan O’Neil
Contributor
Daily News Roundup: Trump Charity Says Attorney General Lawsuit Is Political
The attack is in response to a lawsuit accusing the organization and Trump family members of violating campaign-finance laws and self-dealing, among other things. In other articles, a look at why nurses at Dignity Health are opposing a merger with Catholic Health Initiatives; how a nonprofit that pays bail is changing lives in places like Tulsa, Okla., and St. Louis; Brad Pitt’s nonprofit faces a potential lawsuit stemming from alleged mold contamination and structural flaws; and much more.
She owns 10.3 million shares in SVMK, the parent company of SurveyMonkey, which she plans to give to her charitable foundation when company goes public. In other articles, the Trump administration will no longer support the U.N agency that assists Palestinian refugees; a $20 million gift to the University of Illinois will include $15 million for a football performance center; Facebook will turn a warehouse in Menlo Park, Calif., into a Community Hub to support nonprofits; plus much more.
Daily News Roundup: Gates Foundation Changes Approach to Public-School Education
It wants to create networks of schools that will solve problems with the help of experts and then share what works. In other articles, President Trump has privately urged evangelical leaders to help Republicans win in the midterm elections; a $50 million gift will go to research at St. Louis University; and more about nonprofits and sex abuse, nonprofit finances, and the arts.
Daily News Roundup: Trump Ex-Lawyer Cohen Subpoenaed in Trump Foundation Inquiry
He could give N.Y. State investigators information as they look into whether Trump or his nonprofit did anything illegal. A British tycoon killed in a seaplane crash with his family left Oxfam $53 million due to a “common tragedy clause” in his will; a Wisc. financial adviser is accused of mishandling $3 million; half of the directors and officers of the Immigration and Customs Enforcement’s charitable foundation have connections to businesses that get money from ICE or its foundation; and more.
Daily News Roundup: Free Tuition Is Surprise Gift for All NYU Medical Students
New York Medical School announced it would cover tuition, and an anonymous gift will fund tuition for the University of Houston Medical School’s inaugural class. On other topics, a look at whether the Trump Foundation has violated federal law; the Soros Foundation will leave Hungary by the end of the month; the challenge of giving away $1 billion; plus news about museums and the arts.
Evangelical Church’s Leaders Resign Over Harassment Claims Against Founding Pastor
The elders of Willow Creek Community Church said they made a mistake in failing to believe women’s sexual-harassment complaints against the Rev. Bill Hybels. Also, fundraising netted the Obama Foundation nearly $233 million in its first year; a philanthropist’s huge park project in Tulsa aims to help transform the city; the actor and comedian Kevin Hart has partnered with a charity to provide scholarships to black youths, and more.
Daily News Roundup: Index Fund Investing Gives Small Wisc. College an Edge Over Endowment Rivals
An 11 percent investment return for Carthage College’s $120 million endowment last year bested the 7.4 percent median for other schools, according to a study. Also, rock band Pearl Jam to dedicate $12 million in sold-out shows to Seattle’s huge homelessness problem; campaign aims to promote safe gun storage to prevent accidental child deaths; new foundation will magnify legacy of woman killed in Charlottesville protest, and more.
Foundation Investment Returns Surged by 15% Last Year, Study Says
However, those returns trailed the general market, and one expert expects slower growth ahead.
By Alex Daniels
Contributor
Daily News Roundup: Fidelity’s New Female Chief Is Intensely Private — and a Big Philanthropist
A generous but anonymous supporter of charities, Abby Johnson aims to remake the finanial services company she took over from her father. Also, museums seek to cultivate more curators of color; it’s harder than you think to return tainted donations; and storm-ravaged Puerto Rico gets water relief from an unlikely duo.
Impact Investing Can Fight Racism and Wealth Gaps — if Conducted in New Ways
Instead of focusing singularly on “social impact” — too often used by investors and philanthropists as a blanket term for an unequal power dynamic in which one party holds the purse strings and sets the terms — it’s time for new approaches.
By RODNEY FOXWORTH
Contributor
Nonprofits Fear Impact of Trump Administration Plan to Cut Capital-Gains Tax
One tax expert called it a “double whack” for charities already likely to be hurt by the tax law enacted in December, but others say the change may actually increase giving.
By Alex Daniels
Contributor
Daily News Roundup: Catholic Cardinal Resigns Amid Sex-Abuse Allegations
Pope Francis has effectively taken away Theodore McCarrick’s title even before church officials have investigated the accusations. In other articles, Cleveland Orchestra concertmaster William Preucil has been suspended amid sexual-misconduct allegations; last year’s tax-cut law included an act that allows rich investors and businesses to erase their tax obligations by pouring big sums into poor communities; plus other articles on donor-advised funds, conductor salaries, and much more.