Employer gives $5 million to replace workers’ Madoff losses
Robert I. Lappin, head of Massachusetts-based Shetland Properties and the Robert I. Chapin Foundation, doled out a total of $5 million to his employees who lost the savings they had invested with convicted swindler Bernard Madoff, The Boston Globe reported July 16 (see Madoff story). Lappin lost some of his own money in the scheme and his foundation closed briefly after losing $8 million.
Donors urged to give operating support during recession
With donations to social-service organizations down almost 16 percent last year and an estimated 36 states being forced to cut social services due to the recession, the community must come to the aid of struggling nonprofits, Betsy Brill wrote in a column in Forbes July 16 (see social safety-net story). To help out, donors should make unrestricted gifts of operating support that charities can use to stay afloat, and corporations should give pro-bono support in addition to cash.
Obama taps Berrien to lead EEOC
President Obama has tapped Jacqueline A. Berrien, a lawyer and associate director for the NAACP Legal Defense and Educational Fund, to lead the Equal Employment Opportunity Commission, Bloomberg News reported July 16 (see EEOC story).
State budget cuts threaten Hawaii’s nonprofits
Nonprofit leaders in Hawaii are opposing proposed state budget cuts they say would disproportionately affecting the state’s poor population, The Honolulu Advertiser reporter July 16 (see Hawaii nonprofits story). The state cuts, which are forcing nonprofits to cut staff and programs, come as the number of vulnerable people in Hawaii grows.
Private schools in U.K. come under scrutiny
Private schools in the U.K. are coming under greater scrutiny as the county’s Charity Commission considers enforcing a 2006 ruling saying that in order to receive charitable status, private schools that charge fees must demonstrate they are serving the public, The Economist reported July 16 (see private schools story). The commission says some private schools are failing that test because they are not ensuring that low-income children are able to attend.
U.K. considers creating ‘social investment bank’ for nonprofits
The U.K.’s Office of the Third Sector has launched a three-month effort to determine the shape of a new social investment bank for nonprofit organizations, but has yet to say how much funding the bank will have, The Guardian reported July 16 (see social investment bank story). Charity leaders have asked that the bank be financed with at least $408 million.