Scale of Harvard endowment loss in dispute
A board member of Harvard Management Co., the firm that runs the endowment at Harvard University, told Vanity Fair the fund has lost 23 percent to 25 percent over the past year, it not 30 percent forecast by others, but the school’s president says the endowment really is down 30 percent, the Boston Herald reported July 2 (see Harvard endowment story).
University of Kansas endowment down 20 percent
Leaders of the University of Kansas Endowment Association say investments are likely to show a loss of 20 percent this year, compared to an average growth gate of 9.7 percent for the previous three years and 10.3 percent since 1988, the Kansas City Star reported July 1 (see Kansas endowment story).
Chicago Olympic boosters raise $49.3M, seek $245.7M more
Chicago’s Olympic boosters have raised $49.3 million they need to pay for the international campaign for the 2016 Summer Games and now aim to raise at least $245.7 million in donations to supplement revenue expected from sponsorships, television rights, ticket sales and other revenue stream, the Chicago Tribune reported July 1 (see Chicago Olympics story).
D.C. schools chief talking to nonprofit to run troubled school
The head of the public schools for the District of Columbia is talking to a Los Angeles nonprofit that has improved one of the most troubled high schools in Los Angeles about running at least one low-achieving high school in D.C., expanding her strategy of finding outside partners to manage public schools, the Washington Post reported July 2 (see nonprofit schools story).
Nonprofit journalism groups teaming up to boost watchdog role
Twenty-five nonprofit news groups in the U.S. are teaming up to form an Investigative News Network to support the work and public reach of its members and foster investigative journalism that holds powerful leaders accountable, editorsweblog.org reported July 2 (see nonprofit journalism story).
Donations grow to Australian performing arts groups
Individual support to Australia’s 28 major performing arts companies through bequests, gifts of money and prescribed private funds grew to $20 million in 2008, up 119 percent from 2004, with fundraising events accounting for another $2.5 million, The Australian reported July 3 (see Australia giving story.)