Nonprofitxpress roundup – $70M for colleges

Compiled by Donnie Stanley

Here are the latest nonprofit headlines:

* The Ewing Marion Kauffman Foundation will spend $70 million over 20 years to help more than 3,000 poor Kansas City youngsters attend college, The New York Times reported March 14.

* Big gifts don’t guarantee colleges will admit the donors’ children but do make them priorities for the schools’ fundraising offices, The Wall Street Journal reported March 12, and education consultants say the price for special treatment rises with the size of the school’s endowment, ranging from a $20,000 gift for a liberal-arts school with hundreds of millions of endowment dollars to at least $100,000 for a top-25 school and at least $200,000 and often seven figures for a top 10 school.

* U.S. Sen. Charles Grassley, chairman of Senate Finance Committee, has asked the Internal Revenue Service for documents used in an audit of Judicial Watch, a nonprofit watchdog group, The Wall Street Journal reported March 10. The group claims it is being audited because of its involvement with former President Clinton’s impeachment trial and that the probe is politically motivated.

* The Venice City Council in Florida wants the Gulf Coast Community Foundation to change its name back to the Venice Foundation to reflect its creation from the sale of the Venice Hospital to the Bon Secours Health System, the Sarasota Herald Tribune reported March 12.

* Facing a 10 percent shortfall in its 2002-03 fundraising, the United Way of Detroit will use its rainy day funds to cover budget costs and will cut funds to 130 agencies by 8 percent, Crain’s Detroit reported March 12.

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