‘Flat’ fundraising is new ‘up’ among Sacramento-area nonprofits
In the Sacramento area, ‘flat’ is the new ‘up’ for nonprofits trying to raise money in the recession, The Sacramento Bee reported June 12 (see charitable giving story). Donations and pledges to United Way California Capital Region’s annual workplace giving campaign in the fiscal yeare that ends June 30 are “flat” at about $13.8 million.
Tribune creditors seek information from McCormick Foundation
Creditors in theTribune Co. bankruptcy case are seeking information from philanthropies that owned Tribune stock, including the McCormick Foundation, which sold $1.5 billion worth of stock in transactions involving the leveraged buyout of the company, The Wall Street Journal reported June 11 (see Tribune bankruptcy story). Creditors have been asking the foundations for information about Tribune’s finances at the time of the leveraged buyout, or about a year before the company’s bankruptcy.
Bronx nonprofit staffers accused of embezzlement
Two employees have been charged with embezzling $200,000 from SBCC Management Corporation, a nonprofit that manages low-income buildings in the Bronx, N.Y, The New York Times reported June 10 (see embezzlement story). Richard Izquierdo Arroyo, SBCC’s president, and Margarita Villegas, its director, are accused of stealing the funds to finance a “lavish lifestyle.”
Some Washington State nonprofits could face higher fees
As officials in King County, Wash., work to plug a $93 million budget gap, nonprofits and schools may have to pay more next year to provide food for people in need, The Seattle Times reported June 11 (see King County nonprofits story). The county is considering doubling the fees it charges to license groups that prepare and serve food, a move that could affect more than 450 nonprofits.
Philanthropist to donate unlimited amount in matching funds
Robert W. Wilson, a retired investor and philanthropist, says he will match the largest gift a small environmental nonprofit can raise by September 30, The Chronicle of Philanthropy reported June 10 (see fundraising story). He has placed no upper limit on the “Wilson Challenge,” which could mean big dollars for Rare, the small Arlington, Va.-based environmental charity with 65 employees and a budget of $9 million.