$50M to fight race gap


Here is the week’s top nonprofit news:

* A black Wall Street money manager will give $50 million to institutions and individuals working to improve race relations, The New York Times reported May 18.

* Faced with charges by fundraising groups that bidding to run state employee workplace-giving drives was hurt by a conflict of interest involving a state official tied to United Way, Massachusetts halted the bidding, The New York Times reported May 20.

* Saying New York City is too pricey, a charity tied to Tom Delay of Texas, majority leader of the U.S. House, dropped plans to stage events during the National Republican Convention in the city this summer, The New York Times reported May 20.

* A study by the Inter-American Development Bank says Latinos in the U.S. are expected to wire $30 billion back home this year, The News & Observer in Raleigh, N.C., reported May 20.

* The executive who headed United Way of the National Capital for 27 years was sentenced by a federal judge to 27 months in prison, the maximum sentence, for his role in a financial scandal at the charity, The Washington Post reported May 15.

* A new study by an affordable housing coalition reports declining rates in home ownership since the late 1970s among working families with low and moderate incomes, a period that saw growth in overall homeownership in the U.S., the Associated Press reported May 18.

* Two top business leaders have declined to co-chair the fundraising effort for the Ground Zero memorial foundation, Newsday reported May 18.

* A former medical secretary in Scotland left 1.9 million pounds, or $3.4 million, to two charities, The Herald in Glasgow reported May 17.

* Arnold O. Beckman, founder of Beckman Instruments, a major benefactor of the California Institute of Technology and one of the biggest philanthropists in the U.S., died May 18 at age 104, the Associated Press reported May 19.

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