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Nonprofitxpress Roundup – Slump squeezes charity

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Here are the latest nonprofit headlines:

*While the full brunt of the sputtering stock market is not likely to show up in grantmaking until next year, foundations and charitable trusts are delaying big new initiatives, reducing future grant budgets and even reassessing the way they allocate their assets, The Wall Street Journal reported July 29.

And with donors hurting from plunging values in their investments, charities are scrambling to offset the loss of those donors’ support, The New York Times reported July 30.

*Phillips Academy in Andover, Mass., concluded the biggest capital campaign every for an independent school in the U.S, raising $208.9 million – the first independent school campain to exceed $200 million.

*The collapse of the stock market also has hurt independent schools in Britain, including Eton, which saw its assts fall 53 million pounds, or nearly $82.8 million, The Telegraph reported July 24.

*Philanthropy is growing in the Indian-American community, spurred by the earthquake that hit Gujarat in early 2001, New California Media reported July 26.

*Collaboration between public broadcasters and local groups to promote awareness of critical health issues is the focus of a project of the Benton Foundation and Robert Wood Johnson Foundation. Under the Sound Partners for Community Health Project, 29 public radio stations, seven public television stations and their community and media partners will get $1.7 million in grants to encourage citizen action in five key health areas.

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