Nonprofit news roundup for Sept. 24, 2008

Economic woes not expected to blunt annual summit

The Clinton Global Initiative expects a high turnout for its annual meeting, despite fears the faltering economy might keep away corporations and nonprofits, The Economist reported Sept. 23 (see initiative story). Environmental concerns will take center stage at the event, with presidential candidates John McCain and Barack Obama expected to express their commitment to fighting climate change. It remains to be seen whether economic concerns will have a negative impact on pledges at the event.

Stanford sees 6.2 percent return on investments

Stanford University, the third-wealthiest university in the U.S., had an investment return of 6.2 percent in the fiscal year ended June 30, Bloomberg reported Sept. 23. Stanford Management Co., the school’s money manager, announced the pool of investments totaled $20.4 billion at the end of the period.

MySpace and PayPal team to promote fundraising

MySpace has partnered with PayPal to create the MySpace IMPACT/PayPal fundraising widget, which allows users to donate to nonprofits of their choice through their MySpace pages, reported Sept. 24 (see MySpace story). The companies plan to promote the new software with an online fundraising contest for nonprofits.

Guggenheim Foundation names new director

Trustees of the Solomon R. Guggenheim Foundation unanimously appointed Richard Armstrong to run the foundation and the Guggenheim Museum in Manhattan, the Associated Press reported Sept. 24. Armstrong, former director of the Carnegie Museum of Art in Pittsburgh, will replace Thomas Krens, who resigned seven months ago.

In Brief:

* As a result of their growing earning power and financial control, women surpassed men as the biggest givers for the first time in 2005, U.S. News & World Report reported Sept. 23.

* Youth organizations, which combat problems such as childhood obesity, teen pregnancy and high-school dropout rates, need more support from their communities, Academy-Award-winning actor Denzel Washington says in an opinion column on CNN Sept. 23.

* Robert Holub, chancellor at the University of Massachusetts at Amherst, unveiled an ambitious plan to boost fundraising at the school and improve the university’s national standing, The Boston Globe reported Sept. 24.

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