Boston Foundation shifts funding strategy
The Boston Foundation, New England’s biggest public charity, will give bigger grants to groups it considers the most effective, while reducing funding to other groups, a move that has triggered concern among nonprofits that worry they will have to chase funds elsewhere or cut programs, The Boston Globe reported Sept. 16 (see Boston Foundation story).
Some charities say panhandling bans limit their fundraiisng
Charities say rules by some communities banning panhandling also are hurting their ability to raise money because they prevent people from approaching vehicles to ask for donations, USA Today reported Sept. 15 (see panhandling and charity story).
Cleveland Museum asks court to let it tap funds
With $138 million still to be raised for its expansion, philanthropy and credit markets frozen, and its endowment down to $558.5 million on June 30 from $736 million before the economy crashed a year ago, the Cleveland Museum of Art has taken the unorthodox move of asking a court to let it draw up to $75 million over 10 years from interest paid out on two endowment funds and two outside, restricted trusts for acquisitions, The Wall Street Journal reported Sept. 15 (see Cleveland Museum story).
Health-benefit costs likely to rise, study says
Four in 10 employers say they likely will increase out-of-pocket contributions by employees for doctor’s visits in the coming year, says a study by the Kaiser Family Foundation and the Health Research & Educational Trust, The Washington Post reported Sept. 15 (see health benefits story). Another four in 10 are likely to increase the amount employees contribute to insurance premiums.
Baylor’s endowment falls while enrollment rises
While Baylor University’s endowment fell below $1 billion in fiscal 2009, enrollment for this fall is a record 14, 614 students, The Wako Tribune-Herald Diocese of Greensburg storyreported Sept. 15 (see Baylor story). The school has not released specific endowment-performance numbers for the latest fiscal year.
Pennsylvania diocese launches $45 million campaign
The Diocese of Greensburg in western Pennsylvania launched a $45 million fundraising campaign to fund scholarships, a pension fund and elementary schools, The Associated Press reported Sept. 15 (see ). The diocese’s 85 parishes will receive a total of $18 million with the remainder forming an endowment.