Clinton Foundation releases financial information
Former President Bill Clinton’s charitable foundation raised more than $124 million last year, according to tax forms recently filed with the Internal Revenue Service, the Associated Press reported Nov. 18. The foundation, which is not required by law to release donor information, did not identify its contributors. Clinton has faced increasing pressure to disclose information about his foundation since his wife, U.S. Sen. Hillary Clinton of New York, has been under consideration by President-elect Barack Obama to become secretary of state.
Women top men in generosity, expert says
As the traditional family nurturers, women tend to be more altruistic than men, says Debra Mesch, director of the Women’s Philanthropy Institute at the Center on Philanthropy at Indiana University, The Jewish Journal reported Nov. 19 (see women story). Single women are twice as likely to donate to charity as single men, she says. This statistic is especially significant given experts’ predictions that women will control about 60 percent of wealth in the U.S. by 2010.
Los Angeles art museum falls on hard times
The beleaguered Museum of Contemporary Art in Los Angeles, which relies on donors to pay about 80 percent of its expenses, is considering merging with another institution or sharing its collection of almost 6,000 artworks, says Jeremy Strick, director of the museum, The Los Angeles Times reported Nov. 19 (see art story). Even before the economic downturn, the museum spent all $20 million of its unrestricted funds to meet routine operating costs and had borrowed an additional $7.5 million from other accounts by mid-2007.
Arts patron plans to build own museum
Eli Broad, the largest benefactor of the Los Angeles County Museum of Art, has decided to build his own art museum, The New York Times reported Nov. 18 (see museum story). He is considering a site three miles away from the Los Angeles museum, which recently opened a $56 million museum for contemporary art in his name.
* Indianapolis-based Lilly Endowment Inc. has awarded Indiana University $15 million over five years to establish an advanced information-technology center, The Indianapolis Star reported Nov. 18.
* The New York-based Wallace Foundation plans to award $7.7 million to nine Seattle arts groups and the Washington State Arts Commission to help attract audiences, The Seattle Times reported Nov. 19.
* The Washington National Cathedral plans to shut down a historic building and lay off 30 percent of its staff to combat burgeoning financial problems, The Washington Post reported Nov. 19.