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Nonprofitxpress roundup – Andersen OKs $217M deal

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Compiled by Donnie Stanley

Here are the latest nonprofit headlines:

*Arthur Andersen agreed to pay $217 million to the Baptist Foundation of Arizona for committing fraud after a Phoenix judge approved the settlement, The New York Times reported May 7.  A previous deal fell apart two months ago after an insurance company controlled by Andersen refused payment.

*Major Catholic donors are looking at giving directly to Catholic social service agencies, not through their local dioceses, because they fear their donations will be used for sex-abuse settlements, The Associated Press reported May 4.

*According to a report by Independent Sector, charities would receive $10 million over two years if the Senate passes the faith-based Care Act, but could lose $1.5 billion to $5 billion a year if lawmakers permanently repeal the estate tax, The Mercury News reported May 7. 

*Sixty-five percent of doctors in 1999 provided charity health care — care given free or at a reduced fee based on patients’ finances – up slightly from 1988, with the most care given by emergency medical physicians, according to a survey by the American Medical Association, the American Medical News reported May 13.

*James Towey, a Democrat and former Senate aide, is leading White House efforts to win support for the faith-based charity bill that has won House approval and is before the Senate, The Associated Press reported May 3. Towey is deputy assistant to the president and director of the Office of Faith Based and Community Initiatives.

*A study by the Institute for Public Policy Research found that 700,000 upper-class taxpayers, who represent 20 percent of Britain’s households, gave less than 1 percent of their income to charities in 2001, compared to lower-income families, representing 10 percent of households, who gave 3 percent, the Guardian Unlimited reported May 5. 

*More school districts are relying on funding from educational foundations to help support programs and pay salaries, and at the same time are developing better business relationships, The Philadelphia Inquirer reported May 6. 

*The Yawkey Foundation gave $25 million, part of the profits from its sale of the Boston Red Sox, to Massachusetts General Hospital, the largest gift ever to the hospital, The Boston Globe reported May 7.  The gift comes as a surprise because the foundation has donated more to the Dana-Farber Cancer Institute in past years.

*The World Wrestling Federation changed its name to World Wrestling Entertainment Inc. and will no longer use the WWF logo, after the World Wildlife Fund won the rights to the logo in a London court, The Philadelphia Inquirer reported May 6.

*Gordon Crosby Jr., an alumnus, and his wife gave $10 million to the College of Business at the University of Missouri at Columbia, the largest private gift in the school’s history, the Jefferson City News Tribune reported May 4.  The college will receive an initial $1 million donation of stock, and the remaining amount will be given from a charitable trust after Crosby’s death.

*Entertainment mogul David Geffen donated $200 million to the School of Medicine at the University of California at Los Angeles — the largest single gift to a school of medicine in U.S. history — and will be used to support research and teaching programs at the medical school.

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