Nonprofit news roundup – Week of 05.07.07

Here are the week’s top nonprofit stories reported elsewhere:

* Individuals gave $14.1 billion to colleges in 2006, including $2.2 billion to endowed scholarships, with the average alumni gift totaling $1,195 and the average gift in stock or other securities totaling $47,806, The Wall Street Journal reported April 27 (registration required).

* Salaried employees who climb the corporate ranks to become CEO, and the in the process build huge equity stakes in their companies, increasingly have created their own foundations and have become a new force in philanthropy, The Wall Street Journal reported April 30 (registration required).

* Professional athletes increasingly form their own foundations but get little guidance on how to practice philanthropy, so their foundations often are not run efficiently, The Wall Street Journal reported April 28 registration required). With nearly $82 million in assets, the Tiger Woods Foundation is by far the largest, eclipsing the Lance Armstrong Foundation, the second-largest, with nearly $34 million, the Journal said.

* Donations by the PGA Tour to his foundation function as inducements for superstar Tiger Woods to play in Tour events, allowing the PGA to skirt the prohibition of appearance fees and contradicting “every tenet of golf’s righteous culture of integrity,” New York Times sports columnist Selena Roberts said in a column published April 29.

* The Peace Corps is moving beyond its youth-focused culture and pushing to enlist retirement-age volunteers, The Seattle Times reported April 26.

* Oxfam says British charities are missing out on 1 billion pounds a year, or $1.99 billion, because the tax benefits of payroll giving are not understood, BBC News reported April 26.

* The Sunday Times Rich List 2007 says the top 30 British philanthropists pledged or donated 1.2 billion pounds, or nearly $2.39 billion, to charities in the past year, uk fundraising reported April 29.

Leave a Response

Your email address will not be published. All fields are required.