Higher-education endowments targeted
As the combined endowments of the nation’s colleges and universities balloon to $411 billion and compensation for endowment managers skyrockets, higher education is coming under fire for the “sliver” of its assets, about 4.6 percent annually, spent on financial needs, Business Week reported May 29. Some in Congress are proposing that colleges and universities be required to pay out at least 5 percent of their assets every year, and Massachusetts lawmakers are considering a 2.5 percent tax on endowments over $1 billion.
Aid workers request broader access in Myanmar
International-aid experts that have been allowed into the worst of the cyclone-ravaged portions of Myanmar are urging the country’s government to allow access to more areas, The Wall Street Journal reported May 30. While those allowed in, including Doctors Without Borders and the World Health Organization, say they see no evidence of widespread disease outbreaks, aid workers to date have not surveyed the more remote areas of the region.
One Laptop Per Child gets large order
The state of Caldas in Columbia, South America, has ordered 65,000 computers from the One Laptop Per Child Foundation, which provides low-cost XO laptops at a cost of $188 each, The Boston Globe reported May 29. The government is Caldas will foot the bill of more than $12 million and will provide the laptops free of charge to children in the area.
Florida CPAs launch board-service program CPAs Building Better Boards, a new initiative launched by the Florida Institute for CPAs, is hoping to boost volunteerism in Florida, the South Florida Business Journal reported May 29. In addition matching nonprofits with accountants willing to serve as board members, the program provides training for CPAs on how to serve effectively.