Philanthropy News Report

The Council on Foundations, an association of grant makers, this week laid off 16 percent of its staff members due to the bad economy and a restructuring of its services. Full-text article by Ian Wilhelm is available via the Chronicle of Philanthropy, 9.3.09.

On this Labor Day weekend, we remember the late Democratic Senator from Massachusetts and the pivotal role he played in persuading public servicemen to back the ideas that eventually led to the creation of the AmeriCorps program. His vigorous efforts to promote the importance of public service, while offering incentives to encourage people of all [...]

Even after freezing hiring, cutting student support services, and reducing administrative salaries, the City College of San Francisco is facing a $20 million deficit forcing the college to cut almost 800 courses out of the school curriculum this year. In response to this budget cut, the City College of San Francisco is offering philanthropistss a [...]

The United States Deputy Sheriffs’ Association, who previously settled a state lawsuit over allegations of deceptive and fraudulent business practices, is gaining attention from the Texas Office of Attorney General. Receiving millions in donations each year, the non-profit organization spends only a fraction of that on its charitable cause of helping underfunded sheriff departments. Full-text [...]

The rich, as a group, are no longer getting richer. Over the last two years, they have become poorer. And many may not return to their old levels of wealth and income anytime soon. Full-text article by David Leonhardt and Geraldine Fabrikant is available via The New York Times, 8.20.09.

The U.S. Court of Appeals for the 9th Circuit issued an opinion in a case involving Robert Dillie, who operated a fraudulent foundation, that was actuality a ponzi scheme which issued $55 million in gift annuities to over 400 donors, sold through investment advisers who were receiving commissions on the sales of new gift annuities. [...]

Lawmakers and business leaders in Las Vegas have created Green Chips, a nonprofit group intended to draw investment into “green” energy while promoting the region as environmentally sound. Full-text article by Alan Choate is available via Las Vegas Review-Journal, 8.19.09.

While arts funding is declining in most states, the Texas legislature presented the Texas Arts Commission with a spike in funding, bring its total funding for the next two years to about $16 million from just over $10 million. Full-text article by Douglas Britt via Houston Chronicle, 8.12.09.

With $1 billion grants from their father and advice on how their foundations should manage them, billionaire-investor Warren Buffett’s three adult children are adjusting to running high-dollar philanthropic organizations. Full-text article by Jeff Bailey is available via Fast Company, September 2009.

The University of Pennsylvania beat Harvard University’s endowment by choosing the right stock pickers, investing in credit strategies and boosting its Treasury bonds. Full-text article by Gillian Wee is available via Bloomberg News, 8.13.09.