As Conn. Mulls Endowment Tax, Fla. Invites Yale to Relocate
With Connecticut lawmakers considering a proposal to tax some investment profits on the university’s $26.5 billion endowment, Florida Gov. Rick Scott is beckoning the venerable New Haven institution to move south, reports The Washington Post.
5 Ways to Attract Gifts From Donor-Advised Funds
Experts share tips on how nonprofits can get more contributions from DAF owners.
By Alex Daniels
Contributor
Tenants Ousted Before N.Y. Habitat for Humanity Bought Buildings
A New York affiliate of nonprofit group paid developers millions of dollars in federal stimulus money for apartment buildings after low-income residents were pushed out of the properties, according to an investigation by ProPublica.
Wall St. Manager Was Duped Into Suggesting Foundation Invest in Alleged Fraud Scheme
James McIntyre, a managing director at Moore Capital Management, is the previously unidentified person who unwittingly recommended that a foundation affiliated with his hedge fund put nearly $25 million into an allegedly fraudulent investment scheme run by a private-equity executive, The New York Times reports, citing unnamed sources.
How a Strategy for Spreading Programs Lost Its Sizzle — and Got It Back
Overshadowed in recent years by strategies that emphasize data and outcomes, “scaling up” is returning to favor.
By Ben Gose
Senior Editor
Gift Deal to Rename George Mason U. Law School for Scalia
The Northern Virginia institution’s law school received $10 million from the Charles Koch Foundation and $20 million from an anonymous donor who stipulated that it be named for the late Supreme Court justice, Bloomberg and The Wall Street Journal report.
Seattle Charity Says Debt Forcing Shutdown of Shelters
Seattle Housing and Resource Effort, known as Share, said it is some $70,000 in the red and needs additional city and King County funding to keep operating its 15 overnight shelters, The Seattle Times and local weekly The Stranger report.
Sham Cancer Groups Agree to Dissolve in Federal Settlement
The Cancer Fund of America and Cancer Support Services were accused by the Federal Trade Commission and attorneys general from all 50 states of misusing tens of millions of dollars raised through deceptive solicitations, writes The Washington Post.
Wounded Warrior Project Founder Seeking Board Chair’s Ouster
Reeling from allegations of lavish spending on travel, parties, and executive pay, the Wounded Warrior Project is now undergoing a power struggle between its original leader and the board chairman serving as interim CEO, according to CBS News.
Charities Say Cautious Banks Hindering Syrian Refugee Aid
Regulatory crackdowns on potential terrorism-funding channels are restricting humanitarian groups’ ability to get help to refugees and others affected by conflicts in the Middle East, The Wall Street Journal writes.
Nonprofit Associated With McCain Got $1 Million Saudi Gift
Ethics watchdog Public Citizen says the donation from Riyadh to a policy institute with ties to the Arizona senator reflects a trend exacerbated by the Clinton Foundation’s fundraising from foreign governments, Bloomberg writes.
Nonprofit Experts Fear Dan Pallotta’s Efforts to Defend Charities’ Spending
The Charity Defense Council has been standing up for the Wounded Warrior Project and tangling with a powerful senator, leaving some to worry that its founder is doing more harm than good.
By Eden Stiffman
Senior Editor
Fund Chief’s Charity Says It Was Victim of $25 Million Fraud
Finance billionaire Louis Bacon’s Moore Charitable Foundation said Tuesday that it was the charity allegedly victimized in what authorities say was an investment fraud orchestrated by another Wall Street executive, The New York Times reports.
Maryland Lawmakers OK State Funds for Private Schools
After a 10-year legislative battle over taxpayer support for nonpublic schools, Maryland’s legislature approved a state budget Tuesday that includes a new $5 million grant fund for private-school scholarships, The Washington Post reports.
‘Real Housewives’ Star’s Charity Raises and Spends Little
The youth-focused foundation run by Katie Rost, a model-turned-philanthropist featured in reality show The Real Housewives of Potomac, is “almost nonfunctional” and has granted only a few thousand dollars in its decade of existence, The Washington Post writes.
Wall St. Scion Accused of Stealing $25 Million From Charity
Prosecutors allege Andrew Caspersen, a former managing partner at a private-equity firm, schemed to defraud investors of $95 million, more than a quarter of it from an unnamed charitable organization, The Wall Street Journal and Bloomberg report.