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Carnegie Mellon University has received a huge new pledge to expand its programs. The $265 million gift from William S. Dietrich II is one of the largest in recent years from an individual to a private university, and the largest in the school’s history. The gift marks another chapter in Pittsburgh’s transition from steel to tech. Dietrich is the former chairman of Dietrich Industries, Inc., a leading supplier of steel building mater…
If you met him, you probably wouldn’t know he was a millionaire many times over. He was a physician, who graduated from the University of Buffalo’s medical school during World War II. He practiced medicine in a small community. He lived a private, simple life in a modest house. But he also was a savvy investor, and by the time he died, he had amassed a fortune — much of which he bequeathed to his beloved alma mater. The good do…
Three philanthropies created by Margaret A. Cargill, an heir to the Cargill Corporation who died in 2006, are poised to become, collectively, the third-wealthiest grant maker in the United States. The infusion of money—which could total roughly $9-billion—would come as part of a deal that is expected to enable the philanthropies to convert illiquid shares in the private Cargill Corporation, left to them by Ms. Cargill, into shares in Mosaic, a p…
Boyd, Greenspun, Harrah and Hughes … and now, pending final approval, add Lee. That’s what UNLV plans to formally name its largest college — the business school — after receiving a $15 million donation last week from the Ted and Doris Lee family to bolster business education. The donation is among the largest individual gifts to a college or school in UNLV’s 54-year history and the largest private donation in support of faculty endowments….
Humanitarian groups are increasingly worried about the looming budget cuts in U.S. foreign assistance. They argue that lives are at stake in places like the Horn of Africa, which is suffering its worst drought in decades. Raising public and private money for that crisis been a challenge in the current economic environment. Hollywood stars and politicians have resorted to using the F word — in this case “famine” — to get the attention…
For the first time in three years, New York City-based nonprofit organizations are starting to see an increase in donations from Wall Street executives. After the stock market crash of 2008, many high-net-worth New Yorkers stopped attending fundraising events and galas. Now, with banks, hedge funds, and private equity firms making money again, Wall Street executives have resumed their giving. Indeed, at a December fundraising event for children …
Philanthropies maintained consistent funding levels for education during 2011, on average, but were more strategic and deliberate with dollars, according to a new report on trends in education philanthropy. The latest edition of the annual report was produced by Grantmakers in Education, a Portland, Ore.-based membership association of 280 public and private philanthropic organizations that fund education. The association assessed 2011 trends an…
A New York private-equity firm is set to acquire Caritas Christi Health Care, the second-largest hospital chain in Massachusetts, and turn it into a for-profit enterprise. Cerberus Capital Management will spend $400-million in upgrades to the hospitals and will assume $430-million in pension and debt liabilities from the six-hospital Catholic chain, which was created by the Archdiocese of Boston. Caritas officials said Cerberus will retain the …
The John R. Oishei Foundation and other donors have decided to move forward with a plan to create a Fund for the Arts to support struggling arts and cultural groups in Erie County without the involvement of the county. Oishei Foundation president Robert Gioia and members of his team decided to “revise” the public-private partnership plan — which would have created a $500,000 fund to support struggling galleries, museums, and theaters…
The head of a New York private-equity firm and his wife have donated $48-million to Dartmouth University’s development of a new center for the visual arts, according to Bloomberg. The new Black Family Visual Arts Center, named for donors Leon and Debra Black, will feature a gallery, screening room, auditorium, and academic facilities serving the more than one in four Dartmouth students who take courses each year in the field, the New Hampshire s…
