Business Ties Could Present Conflicts for Big Hospitals
The burgeoning size and vast business relationships of many nonprofit hospitals pose unique challenges for the institutions’ administrators and trustees in combating appearances of impropriety, writes The Wall Street Journal.
Experts Question Ethics of Breitbart Editor’s Fundraising
Breitbart News editor and conservative provocateur Milo Yiannopoulos raised at least $100,000 for scholarships for white men in an unethical and “possibly illegal” way, according to The Daily Beast.
Clinton Foundation to Curb Fundraising if Hillary Is Elected
The charity said Thursday that it will eschew all donations from corporations and foreign entities if Hillary Clinton wins the presidency and that next month’s 12th annual Clinton Global Initiative meeting will be the last, the Associated Press and CNN report.
Nonprofits Face New Requirements in Financial Statements
The changes by the Financial Accounting Standards Board are meant to make information clearer for creditors, grant makers, auditors, and others that review the documents.
By Timothy Sandoval
Contributor
Court Papers Link DiCaprio Fund to Malaysia Finance Scandal
Actor Leonardo DiCaprio’s environmentally focused foundation has been caught up in the federal investigation of a massive embezzlement case involving Malaysian sovereign-wealth fund 1MDB, writes The Hollywood Reporter.
Wounded Warrior Sticks With Accounting Rules That Drew Fire
New documents suggest the organization is doing little to satisfy critics who complain that it inflates program spending and understates administrative expenses.
By Timothy Sandoval
Contributor
Vanderbilt to Return 1933 Gift to Rename ‘Confederate’ Dorm
The private university in Nashville will pay $1.2 million to a donor organization to remove the word “Confederate” from the name of a campus residence hall, The Tennessean reports.
Opinion: Clinton Foundation Should Close if Hillary Wins
The charity’s fundraising represents “an inherent conflict of interest” for a potential Hillary Clinton administration, and it should make plans now to wind down if she is elected in November, The Boston Globe editorializes.
Arab-American Charity Loses Suit Over Bank-Account Closure
A federal jury decided Tuesday in favor of Bank of America in a case brought by Michigan-based aid charity Life for Relief and Development after the bank closed its account, reports the Detroit Free Press.
Philly Official Likens Ex-Mayor’s Nonprofit to ‘Slush Fund’
The city controller issued a report Tuesday questioning the use of hundreds of thousands of dollars by a City Hall-affiliated nonprofit during former mayor Michael Nutter’s tenure, The Philadelphia Inquirer and Philadelphia magazine write.
Survey Finds Big Nonprofit Investors Souring on Hedge Funds
Hedge funds’ high fees and lagging recent returns are prompting endowments and foundations to limit the funds’ place in their portfolios, Bloomberg reports, citing a new survey of large nonprofit investors.
Presidents and Faculty Gave Millions to Their Own Universities, Data Shows
New data from The Chronicle of Higher Education’s Almanac also shows that Stanford University raised $1.6 billion in private support, more than double the amount of any other university except Harvard, which raised $1 billion.
By dan.parks
Contributor
Hillary Clinton’s Tax Return Shows 10% Giving Rate in 2015
Tax forms made public Friday show the Democratic presidential nominee and former President Bill Clinton donated 9.8 percent of their $10.6 million in adjusted gross income last year, The Wall Street Journal and USA Today report.
Education Dept. Rejects Commercial College’s Nonprofit Bid
The agency said the Center for Excellence in Higher Education’s request for nonprofit status was aimed at avoiding strict federal regulations on for-profit colleges, The Chronicle of Higher Education and The Wall Street Journal report.
Lawsuits Target Private Colleges on Pension-Plan Fees
A lawyer who has pioneered legal claims over high 401(k) plan fees has turned his attention to the nonprofit world, representing employees of seven private and state universities alleging costly mismanagement of their retirement funds, The New York Times writes.
Donors Offer U.S. Wrestlers Big Paydays for Rio Gold
A group of wealthy former wrestlers who’ve made it big in finance are offering up to $500,000 to American grapplers competing at the 2016 Olympics, writes The New York Times.