General Motors bankruptcy worries Michigan nonprofits
A potential casualty of the General Motors bankruptcy is Michigan’s nonprofit sector, which is bracing for the loss of millions in philanthropic dollars, The Detroit Free Press reported June 1 (see arts funding story). The company and its foundation, which funneled $12 million into the state’s nonprofits in 2007, made good on 2008 commitments, but 2009 charitable-giving plans remain in limbo.
Research funding outpaces investment income at Stanford
With its endowment and interest income dwindling due to capital-market declines, grant money for research now is the leading source of income for Stanford University, a reversal of recent trends, The Silicon Valley Mercury News reported June 3 (see Stanford research story). About 30 percent of the university’s income next year is expected to come from federal research funding, while about 24 percent will come from investment income.
Kansas University readies for capital campaign
With a new chancellor taking over Aug. 15, Kansas University is planning to launch a new capital campaign, The Lawrence Journal-World & News reported June 1 (see Kansas University story). The university has asked its schools and departments to compile a list of needs to be forwarded to incoming Chancellor Bernadette Gray-Little, who comes to Kansas from the University of North Carolina at Chapel Hill.
Recession leads to collaboration among U.K. nonprofits
One side effect of the recession may be more cooperation among nonprofits in the U.K., says a survey that found three-fourths of charity leaders expect they will increase collaboration in the coming year, The Guardian reported June 2 (see charity collaboration story). In the last few months, the sector has seen two high-profile mergers, the Charity Commission and NCVO have created units to provide advice, and Futurebuilders has created an online “match-making” service for collaboration.
Fresno State launches public phase of $200 million campaign
California State University at Fresno has launched the public phase of a $200 million fundraising campaign scheduled to close in 2012, shortly after the school’s 100th anniversary, The Fresno Bee reported June 2 (see Fresno State story). Fresno State raised $132.4 million during the quiet phase of the effort, including a $29.4 million donation to its College of Agricultural Sciences and Technology, the largest gift in the university’s history.
Russian corporate philanthropy urged to be strategic
Russian corporate philanthropy has seen a surge in recent years that now is threatened by the economic crisis, Polina Filipova, program director for Charities Aid Foundation, said in The Moscow Times June 2 (see Russian giving story). Given that corporate dollars for charity are becoming scarce, companies should donate their funds to address “systemic” problems in Russian society.