Here are the week’s nonprofit headlines:
*Heavy investment of their endowment dollars in hedge funds as a cushion in a slumping economy could backfire for top U.S. colleges and universities in the face of an expected shakeout in the hedge-fund industry, The Wall Street Journal reported Oct. 7. Commonfund, a group that helps colleges invest money, says hedge funds account for 13 percent of college endowment investments, up from 7 percent two years ago, the Journal says.
*Their donors and endowments stung by the falling stock market, symphonies throughout the U.S. are cutting concerts, shortening seasons and offering smaller-scale events, The Wall Street Journal reported Oct. 9.
*With state education financing on the skids, school systems throughout the U.S. are turning to private donors, raising questions about the burden philanthropy can shoulder for public education and the influence it should have for its support, The New York Times reported Oct. 6. The New York City schools, for example, has hired Caroline Kennedy to be its chief fundraiser.