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Archive for May, 2009
Create your own stimulus plan
May 7th
No one is bailing you out? Our new gamePlan site has helpful tips on cutting biz & tech costs--so you can thrive.
Top British Grant Makers See Big Losses
May 6th
The Wellcome Trust, Britain’s largest charitable foundation, suffered a nearly 9-percent loss in the value of its assets last year, the Web site of British magazine Charity Finance reports.
The trust’s portfolio fell by $2.8-billion to $21.2-billion for the year ending September 30. In its annual report, the charity said that “the depth of the financial crisis has exceeded our expectations.”
Another major British donor, the Esmee Fairbairn Foundation, saw its investment assets drop 22.5 percent to $1.1-billion, leading to an approximately 8-percent decline in giving.
Former Finance Officer Pleads Guilty to Stealing From Child-Abuse Charity
May 6th
The former finance director of the National Children’s Alliance pleaded guilty on Tuesday to stealing from the nonprofit organization, which works with victims of child abuse, reports the Associated Press.
Sharon Martin admitted to stealing eight payroll checks worth about $15,800 from the alliance, a Washington group that operates more than 500 children’s advocacy centers nationwide. She worked for the organization as finance and senior staff director from 1994 to 2007.
Ms. Martin faces up to six months in prison when she is sentenced in August.
Opinion: Surge in Anonymous Giving Has a Downside
May 6th
A downturn in “conspicuous philanthropy” might not bode well for the state of charitable giving, writes Judith H. Dobrzynski, a business journalist, in an opinion article published by Forbes.com.
Citing last week’s Chronicle of Philanthropy report on the recent rise in large anonymous gifts, she noted that highly public contributions can have a ripple effect on giving and help fund raisers, who use lists of wealthy givers to find new prospects.
If the “age of competitive mega-philanthropy” is ending, she writes, “the inspirational role it played in encouraging smaller donors may also be lost.”
White House Press Dinner to Benefit Charity for Poor
May 6th
The 2,700 guests at this weekend’s White House Correspondents’ Association Dinner will forgo dessert and donate the savings to a social-service charity in Washington, says the Associated Press.
Along with the $13,140 raised by skipping the last course at the annual dinner, the association will give another $10,000 to So Others Might Eat, which provides meals, job training, and mental-health and drug treatment to the poor. Following tradition, proceeds from the event will also support journalism scholarships.
The correspondents’ group wanted “to recognize the difficulties that lots of people are facing right now,” said Jennifer Lowen, Associated Press White House reporter and president of the association.
(Free registration is required to view this article on the Washington Post site.)
In the Arts: Carnegie Hall to Adopt Horne Foundation
May 6th
The Weill Music Institute, the educational arm of Carnegie Hall, will take over the programs of the Marilyn Horne Foundation, which the famed mezzo-soprano founded in 1993 to support the work of young singers, according to The New York Times.
The transition will take place next year, with Ms. Horne staying on as the foundation’s artistic director.
In other arts news, Michael M. Kaiser, president of the John F. Kennedy Center for the Performing Arts and architect of its Arts in Crisis program to assist recession-battered cultural organizations, discussed the downturn’s impact on the arts in an online discussion hosted by The Washington Post.
(Free registration is required to view these articles.)
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