Just Beyond Bear's Clutches

Stocks moved to the threshold of a bear market Friday, triggering debate on Wall Street on how long a downturn could last and how much damage it could wreak.

A day after losing 358.41 points, the Dow Jones industrial average shed an additional 106.91 points, or 0.9%, to close out a dismal week at 11,346.51.

Full-text article by Walter Hamilton is available via the Los Angeles Times, 6.28.08.

Alumni Give $57.2 Million to Oklahoma State

Amy and Malone Mitchell, who both graduated from OSU, donated $57.2 million to be split evenly between academics and athletics. The gift will be used to create an entrepreneurship program within OSU's Spears School of Business and to provide support to athletic programs.

Full-text article by Murray Evans is available via the Houston Chronicle, 6.27.08.

Land-Rich Universities Weigh New Options for Real-Estate Development

Real-estate-rich universities are taking advantage of new ways to develop their holdings through corporate partnerships, says a report released this week by Moody's Investors Service, a credit-rating agency. Those partnerships pose a wide range of payoffs and risks, the agency says.

Full-text article by Paul Fain is available via the Chronicle of Higher Education, 6.27.08. [Subscription required.]

Canadian Universities Hurting for Funds

A report finds that while the amount of money going to Canadian universities is increasing, rising student numbers and expenses associated with research mean that these dollars are being spread more thinly, hurting the quality of education.

Full-text article by Elizabeth Church is available via GlobeandMail.com, 6.26.08.

CentraCare Health Foundation Receives $1 Million Gift

A Milaca couple donated $1 million to help build a hospitality house next to St. Cloud Hospital.

Benedict and Dorothy Gorecki gave the money to CentraCare Health Foundation to help finance construction of the building, which will be named St. Cloud Hospital Gorecki Guest House. The donation is the lead gift of a $2.5 million fundraising campaign for the new building.

Full-text article by Lawrence Schumacher is available via the St. Cloud Times.com, 6.26.08.

Ohio University Gift Now Tops $91.8 Million

In January, Ohio University announced that it would receive $80million from the estate of Fritz J. and Dolores H. Russ. Mr. Russ was an OU alumnus who was at the forefront of several engineering advancements.

But the original estimate of the estate's value turned out to be conservative. OU officials said the estate is now believed to top $91.8million, making it the largest gift to any public engineering college and the biggest donation to any public university in Ohio.

Full-text article by Encarnacion Pyle via the Columbus Dispatch, 6.25.08.

US Charity Donations Hit 2007 Record Despite Soft Economy

Americans shook off economic uncertainty and gave a record 306.4 billion dollars to charitable causes in 2007, an increase of 3.9 percent for the year.

The annual survey by Giving USA Foundation and the Center on Philanthropy at Indiana University showed a rise in overall donations but hesitation by individual donors and companies affected by economic woes.

Full-text press release is available via the Association of Fundraising Professionals, 6.23.08.

World Now Has 10 Million Millionaires

The number of people around the world with at least $1 million in assets passed 10 million for the first time last year, according to Capgemini's 2008 Wealth Report. And their bank accounts are growing even faster.

The wealth of the world's richest is projected to reach almost $60 trillion by 2012, the report said.


Full-text article is available via CNN.com, 6.25.08.

Capgemini's World Wealth Report, 2008.

8 Reasons You Should Not Expect an Inheritance

Costs are rising, retirement income is less secure and the golden years are lasting longer, leaving older people less to bequeath to their heirs.

Full-text article by Ron Lieber is available via the New York Times, 6.21.08.

Atlanta Selected as Site for National Health Museum

The National Health Museum, which has displayed its collection on
the Internet since it was founded in 1997 and at events it
sponsored, has selected Atlanta for its new home and plans to
build a 190,000-square-foot museum in the city, reports Cox News
Service.

The organization said it chose Atlanta because it is already
home to several major health institutions, including the American
Cancer Society, the Arthritis Foundation, and the Centers for
Disease Control, the news service reports.

Museum organizers plan to conduct a fund-raising drive to seek
money for the new facility.

Full-text article by Bob Keefe is available via the Atlanta Journal Constitution, 6.18.08.

British Universities' Campaigns Garner Big Gifts

Two British universities have received multimillion-dollar gifts, reports the Daily Telegraph, signaling a promising start to their capital campaigns.

Oxford University has received $50-million from Michael Moritz,
a partner at Sequoia Capital, a venture-capital firm in
California, and Harriet Heyman, a writer and former journalist
with The New York Times. That university recently announced its
campaign to raise about $2.5-billion.

Ros and Steve Edwards, who made millions through the sale of
their software company, gave $60-million to Cambridge University,
which is currently seeking about $2-billion in its campaign.

Full-text article by Graeme Paton via the Daily Telegraph, 6.18.08.

Why We're Gloomier Than The Economy

Ask Americans how the economy is doing, and their answer is stark: It is not just bad, it is run-for-the-hills terrible. Consumer confidence is at its lowest level in almost 30 years. Only 12 percent of Americans think the economy is in good shape.

Full-text article by Neil Irwin is available via the Washington Post, 6.18.08.

Medical College of Georgia Terminates Relationship With Foundation

After clashing over how to use endowment money, the Medical College of Georgia has decided to sever its ties with the Medical College of Georgia Foundation Inc. and start a new foundation.

Full-text article by Tom Corwin is available via the Augusta Chronicle, 6.13.08.

Asian American Billionaire, Cyrus Tang

Steel magnate Cyrus Tang, once described by an Asian American news website as "the most secretive of Asian American billionaires in America," recently spoke about his philanthropy to a reporter for the first time.

Full-text article by Teresa Watanabe is available via the Los Angeles Times, 6.15.08.

Charities Get Inventive - Naming Opportunities

Donors pay more, recipients get inventive with naming rights.

Full-text article by Michael Gross is available via MSNBC, 6.14.08

Stewart R. Mott, Philanthropist

Stewart R. Mott, a prominent philanthropist for progressive causes, died of cancer on Thursday at age 70. Mr. Mott, who inherited his fortune as a son of the Michigan entrepreneur Charles Stewart Mott, supported causes that promoted birth control, feminism, civil liberties, gay rights, and other causes.

Full-text article by Douglas Martin is available via the New York Times, 6.14.08.

Churches Borrow Franchise Approach to Expand

Church pastors seeking to expand their congregations overseas are turning to tech-savvy communication approaches and franchise marketing to bridge the distance between their services at home and abroad.

Full-text article by Alexandra Alter is available via the Wall Street Journal, 6.13.08.

Grand Valley State Announces First Comprehensive Campaign

Leaders at Grand Valley State University say they have raised more than $25 million toward a $50 million, two-year fundraising campaign.

The campaign has been discussed since Haas came to the university nearly two years ago. He said it has gained momentum within the last 18 months. A new library, more specifically a "learning and information commons," is the largest single piece of the project.

Full-text article by Tony Tagliavia is available via woodtv.com, 6.10.08.

How the Struggling Economy Is Hurting Donations

The latest victims of the sagging economy: charities. Philanthropy is tethered directly to the health of the overall economy, and in particular to the health of the upper-middle-class consumer. If the past is any guide, it's likely to be a lean year for nonprofits.

Full-text article by Daniel Gross is available via Newsweek, 6.12.08.

Other article of interest:
"Philanthropy Has Seen Better Days," by Tatyana Gershkovich via BusinessWeek, 6.13.08.

Bad Times, Good Deeds

Executives tempted to cut back on their corporate philanthropy in a slowing economy should think again. The long-term reputational benefits outweigh the short-term costs of sustaining their levels of giving even when profit and earnings growth slows, according to the Committee Encouraging Corporate Philanthropy (CEPC).

Full-text article by Rachel S. Cohen is available via Forbes.com, 6.10.08.

Massachusetts Charities Urged to Merge and Pool Resources

A struggling economy has endangered the ability of nonprofit organizations in Massachusetts to provide charitable services to the needy, and that, according to a new study, should prompt many of the state’s nonprofit groups to merge, or at least to consider pooling their resources.

Full-text article by Robert Weisman is available via Boston.com, 6.11.08.

University of Buffalo Receives $10 Million Gift

The University at Buffalo announced a $10 million gift from Jeremy M. Jacobs, his wife, Margaret, and family to establish the Jacobs Institute, which will support research and clinical collaboration on the causes, treatment and prevention of heart and vascular diseases.

Full-text news release is available via the University of Buffalo, 6.12.08.

As Numbers Decline In US, Women's Colleges Boom Globally

As women's colleges numbers decline in the United States, they are booming in much of the developing world — places such as Africa, Asia and the Middle East. They've become a trendy tool for jump-starting economic growth and political development, and for helping break down barriers in the same way their U.S. counterparts have been doing since the 19th century.

Full-text article is available via the Associated Press, 6.10.08.

2008 Metro Market Charitable Analysis Study

In terms of their overall financial health, Miami, San Diego and Houston’s charitable communities are tops in the nation. While philanthropic markets in Detroit, Indianapolis and Baltimore, rank among the least fiscally healthy. Check out the study to find out how all 30 metro markets performed.

Complete study is available via Charity Navigator, June 2008.

Economic Downturn Apparently No Problem for Fundraising Efforts by Local Hospitals

As the economy has headed south, it might seem that charitable giving would be the first line item to shrink. But the major Memphis hospitals haven't yet felt a funding bump in their quests for multimillion-dollar projects.

Full-text article by Toby Sells is available via the Memphis Business Journal, 6.6.08.

Harvard President Defends Funding

In a sharp rejoinder to critics of massive university endowments, Harvard University president Drew Faust said that colleges must take a long view in managing their reserves to maintain their research ambitions and international standing.

"The endowments at Harvard and other great universities have created a system of higher education that is the envy of the world," she said in a speech during the university's commencement.

Full-text article by Peter Schworm is available via the Boston Globe, 6.6.08.

Entrepreneurs Foundation of North Texas Hosts Spirit of Entrepeneurship Event

"Dallas is a deal-making town, and the good news is that companies here appreciate making philanthropy a part of their deals. The reason we host this event is to show even more executives how valuable it is to integrate corporate citizenship into their business model. There's a real tangible return on investment. You get a more engaged employee, a more loyal customer base, and besides that, you're doing good things for the community. It's a win-win-win," said Pam Gerber, executive director of the Entrepreneurs Foundation.

Full-text article via Pegasus News Wire, 6.6.08.

Cargill's Retired CEO, Wife Now Cultivate Philanthropy

Warren and Mary Lynn Staley are working to improve the lives of impoverished people, using skills that built successful careers.

Full-text article by Neal St. Anthony is available via the Minneapolis-St.Paul Star Tribune, 6.6.08.

Charities Make Aggressive Efforts to Lure Generous Donors Online

Brown University's annual fund is venturing into new territory. The annual fund never asked for more than $5,000 in an e-mail appeal, but this month it will send solicitations seeking gifts of $10,000 to $75,000, depending on the donor's giving history.

Full-text article by Nicole Wallace is available via the Chronicle of Philanthropy, 6.12.08. [Subscription required.]

Other articles and graphics of interest from the Chronicle:

Internet Giving: How Much Charities Have Raised in the Past Five Years [Subscription required.]

Group Finds That E-Mail Messages Spur Some Donors to Give More [Subscription required.]

Religious Habits of Young Americans Spell Trouble for Fund Raising

Baby boomers give less to religious causes than their parents’ generation did when they were the same age as boomers are now, new research has found. And members of Generation X, people born after 1965, give even less than boomers.

Full-text blog posting by Holly Hall is available via the Chronicle of Philanthropy's Propsecting Blog, 6.4.08.

Texas Area Universities Enroll, Graduate More Women

According to U.S. Education Department figures from 2007, women made up about 58 percent of undergraduates.

It wasn't always that way. In 1970, there were 1.5 million fewer women than men in higher education, according to the National Center for Education Statistics. By contrast, there were 2.6 million more women than men enrolled in 2005.

Full-text article by Brian Bethel is available via Abilene Reporter News, 6.4.08.

The Boom In Private Giving

As documented by the Hudson Institute, American private philanthropy to poor countries, including remittances, comes to four-and-a-half times U.S. government foreign aid. Even when excluding remittances, private philanthropy was $34.8 billion in 2006, compared to official aid at $23.5 billion.

Full-text article by Carol C. Adelman is available via the International Herald Tribune, 6.4.08.

Museums Prepare to Announce New Rules Governing Acquisitions

Directors of the country’s largest art museums will announce new guidelines for how their institutions should acquire antiquities, a controversial issue that has led in recent years to several highly publicized art restitution cases, as well as political battles among some of the world’s most august museums.

Full-text article by Randy Kennedy is available via the New York Times, 6.4.08.

St. Thomas Gets $10M for Business Ethics Program

The Twin Cities’ second-largest business school has announced a $10 million gift to enhance its Self-Assessment and Improvement Process (SAIP) Institute and business-ethics center and thereby distinguish itself in an increasingly competitive B-school climate.

The Opus College of Business at the University of St. Thomas received the gift from Harry R. Halloran Jr., chairman and CEO of the American Refining Group Inc. and founder and CEO of Energy Unlimited Inc., both of Pennsylvania.

Full-text article by Kendall Anderson is available via Finance and Commerce, 6.3.08.

Colleges Seek Ways to Raise Donations in Tight Economy

Institutions are still receiving the large pledges, but some said it's now taking more time and work to actually receive the funds. Smaller donations have decreased slightly, and state matching funds have been delayed for public universities.

Full-text article by Adam Aasen is available via the Florida Times Union, 6.2.08

College Alumni Magazines Struggle to Compete With Facebook

The advent of social networking on the Internet has created a quandary for alumni magazines, which want to maintain a conversation with alumni but have been slow to embrace the Web. Most schools have set up password-protected sites where graduates can change their contact information, drop a class note or donate money.

Full-text article by Cate Doty is available via the New York Times, 6.2.08.

Americans Favor Career and Technical Colleges Over Community Colleges, Report Says

Many Americans believe that career and technical colleges are better than community colleges at preparing students for a competitive work force, according to public-opinion poll results by the Career College Association.

Full-text article by Kate Mosher is available via the Chronicle of Higher Education, 6.4.08. [Subscription required.]

Dallas Museum Receives $50-Million

The Museum of Nature and Science, in Dallas, received a $50-million gift from Margot and H. Ross Perot’s five children.

Full-text article by Michael Granberry is available via the Dallas Morning News, 5.31.08.

A Kentucky Home for Alumni of a Defunct Texas College

Georgetown College, a mostly white institution in Kentucky horse country, has "adopted" the alumni of Bishop College, a defunct black institution in Texas. The alumni are helping Georgetown raise its minority enrollment.

Full-text article by Kate Moser is available via The Chronicle of Higher Education, 6.6.08. [Subscription required.]

Sanford Health Hopes To Open Its First International Site in Dublin, Ireland

Sanford Health soon might ink a deal to build its first international children's clinic in Ireland.

The health system is in the process of exchanging agreements with the Hermitage Medical Clinic to build a $5 million children's health clinic, said Sanford Executive Vice President Dave Link. The 126-bed independent hospital is in west Dublin.

The hospital is using a $400 million donation from South Dakota businessman and philanthropist T. Denny Sanford to build clinics throughout the world, create opportunities for health research and identify and then resolve one of "the most pressing health issues of our day."

Full-text article by Megan Myers is available via ArgusLeader.com, 5.30.08,

Consumer Reports Rates Bay Area Hospitals

Bay Area hospitals spend less time and money treating patients than their counterparts in Southern California. But that's actually a good thing, according to new rankings by Consumer Reports of about 3,000 hospitals nationwide.

Full-text article by Victoria Colliver is available via San Francisco Gate, 5.30.08.

Philanthrophic Growth Presents Several Challenges

In the last two decades, the number of tax exempt public charities has increased by 200 percent, now totaling nearly 900,000. Simultaneously, the inflation-adjusted value of private giving has increased to nearly a quarter of a trillion dollars. While three quarters of that giving is still by individuals, annual corporate cash contributions to nonprofits has increased by over 30 percent and giving by foundations has more than tripled.

With all this philan­­thropic gr­ow­th has come at least three challenges, all of which are knocking on the corporate door, as well as at the door of major philanthropists.

Full-text article by Susan Raymond is available via INDUS Business Journal, 6.1.08.

You Think Flying Is Bad Now...

Something has to give as airlines adjust to $130 oil and brace for a record yearly loss. Not all of the majors will survive in this economy.

Full-text article by Dean Faust and Justin Bachman is available via Business Week, 5.28.08.