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Nonprofitxpress roundup – Red Cross opens books

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Compiled by Donnie Stanley

Here are the latest nonprofit headlines:

*The American Red Cross said it would change its fundraising practices in response to federal and state officials seeking full disclosure of finances after the Sept. 11 attacks, The New York Times reported June 5. The Red Cross will enforce a new policy, called Donor Direct, allowing donors to specify how their contributions should be used, The New York Times reported June 6.

*House Republicans voted to permanently repeal the estate tax, which has been opposed by nonprofits and some leading business leaders, The New York Times reported June 6. 

*Faced with rising costs and tougher policies from insurance companies, many British charities will need to provide more details about the risks associated with work to be insured, the Guardian Unlimited June 5. The British Trust for Conservation Volunteers, for example, suspended work for two-thirds of its 2,600 employees last month after its insurer, Ecclesiastical, pulled its coverage because of high risks.

*More San Francisco Bay area companies are donating money to family foundations to support favorite causes, the San Francisco Business Times reported May 31.

*The family of the late philanthropist, Avery Fisher, fears that the Lincoln Center’s Avery Fisher Hall will be renamed for donors contributing towards the 10-year, $1 billion redevelopment of The Lincoln Center for the Performing Arts, The Associated Press reported June 3.

*The San Jose Symphony will close for 18 months and declare bankruptcy as it acts on recommendations by a 14-member committee headed by former San Jose Mercury News publisher Jay Harris, in hopes of salvaging the orchestra, the San Francisco Chronicle reported June 5.

*The Pritzker family, owners of the Hyatt hotel chain, gave $30 million to the University of Chicago, the largest gift in the school’s history, The Chicago Tribune reported June 6.  The money will support the school’s biological sciences division and the Pritzker School of Medicine.

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