Nonprofit news roundup for July 1, 2009

U.S. House votes to increase arts, humanities funding

The National Endowment for the Arts and the National Endowment for the Humanities each received a funding increase of 9.7 percent from the U.S. House of Representatives, The Los Angeles Time reported June 26 (see arts and humanities story). The agencies each currently receive $155 million from the federal government.

Many big college endowments outperformed by smaller schools

Many of the largest U.S. college endowments, which generally are managed using “sophisticated” investment strategies, were outperformed this year by smaller schools, The Wall Street Journal reported June 30 (see college endowments story). While virtually all endowments experienced declines in value this year, those with less than $1 billion generally performed better by having more money in fixed income and less in alternative investments.

Medical association says doctors should treat the uninsured

Delegates of the American Medical Association have adopted a policy saying its physicians have an “ethical obligation” to treat uninsured patients, even if patients are not able to pay, American Medical Association News reported June 29 (see charity care story). Doctors also should help patients access public services and should participate in the political process to improve access to care.

One in four college seniors look to nonprofits for jobs

The global financial crisis, coupled with a rising “social conscience,” is leading many recent college graduates to consider careers in the nonprofit sector, Bloomberg News reported June 28 (see college graduates story). More than one in four graduating seniors plan to work for nonprofits or governments, up from 23 percent last year, says a survey by the National Association of Colleges and Employers.

New York couple gives $10 million for city project

Billionaire couple Lisa Marie and Phillip Falcone matched a $10 million gift from and Barry Diller and Diane von Furstenberg to support the High Line, a nonprofit landscaping project in New York City, The New York Times reported June 29 (see Lisa Maria Falcone story).

Obama to highlight nonprofits’ creative efforts

In an effort to spur giving by philanthropists and foundations, President Barack Obama on June 30 will begin highlighting nonprofit programs that are “making a difference” through their creative efforts, The Associated Press reported June 30 (see Obama story).

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