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Nonprofitxpress roundup – Student aid may drop

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Here are the latest nonprofit headlines:

* The Congressional Research Service says the government’s new formula for financial aid will cut Pell grants by $270 million and cause 84,000 fewer students to qualify for assistance, The New York Times reported July 18.

* U.S. government guidelines to help nonprofits avoid funding terrorists may be too costly and impractical for many groups, the Associated Press reported July 18.

* Thirteen California foundations paid $2.8 million to 132 trustees and directors last year, adding fuel to a congressional bill to bar foundations from including overhead in total giving, the Mercury News reported July 22.

* Life Decisions International, an anti-abortion group, persuaded Warren Buffett’s conglomerate Berkshire Hathaway to end its innovative corporate-charity program because Planned Parenthood was a recipient, the Washington Post reported July 20.

* In a proposal to revamp its charity law last year, the British government excluded scientific groups from becoming charities, but has reversed its decision, the Guardian Unlimited reported July 18.

* Many nonprofits are buying office space and buildings instead of renting because interest rates are low and many donors prefer assisting in building purchases rather than giving to rent, the Washington Post reported July 21.

* An Arthur Andersen partner, who audited Freddie Mac’s financial statements, also was a board member for a nonprofit that Freddie Mac supported, raising conflict of interest questions, The Wall Street Journal reported July 21.

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