Health-care proposal scraps excise tax for nonprofit hospitals
Sen. Max Baucus’ proposed health-care legislation leaves out an excise tax that would have been levied on hospitals that do not provide enough charity care, Barbara Martinez wrote in a blog in the Wall Street Journal Sept. 16 (see nonprofit hospitals story). The proposal requires nonprofit hospitals to conduct periodic community-needs assessments, publicize financial-assistance policies, limit billing of financial-assistance patients and cease “extraordinary collection actions.”
Berkeley Foundation creates nonprofit to manage endowment
The University of California Berkeley Foundation has created a nonprofit to manage its $736 million endowment, which previously had been handled by a volunteer investment committee, The San Francisco Business Times reported Sept. 16 (see Berkeley Foundation story). John-Austin Saviano, a former investment consultant with Cambridge Associates, has been tapped to lead the new nonprofit and will be paid $270,000 through a $3 million gift from the William and Flora Hewlett Foundation.
Head of Annie E. Casey Foundation to retire in April
Douglas W. Nelson, who led the Annie E. Casey Foundation for two decades, will retire in April, The Baltimore Sun reported Sept. 17 (see Annie E. Casey Foundation story). During his tenure, the foundation’s assets grew to almost $3 billion from $590 million, and annual grantmaking on behalf of disadvantaged children and families grew to $240 million from $35 million.
Charlotte Symphony gets two $1 million gifts
The financially-struggling Charlotte Symphony received two $1 million gifts, one from former Bank of America chief Hugh McColl and his wife, Jane McColl, and the other from the family of former University of North Carolina System President C.D. Spangler through the C.D. Spangler Foundation, The Charlotte Observer reported Sept. 16 (see symphony gifts story).
Texas school district gets $1 million for scholarships
The Aldine Independent School District in Texas received the $1 million Broad Prize in Urban Education, sponsored by the Eli and Edythe Broad Foundation, U.S. News & World Report reported Sept. 16 (see Texas schools story). The district had three times been a finalist for the award, which funds scholarships for the winning school’s seniors.
Aylward leaves Mitsubishi Foundation for federal post
After almost 20 years on the job, Rayna Aylward, the founding executive director of the Mitsubishi Electric America Foundation, is leaving her post to become special assistant in the office of the U.S. Secretary of Education, The Washington Business Journal reported Sept. 16 (see Mitsubishi Foundations story). In her new post, Aylward will work to build partnerships between foundations and the federal government.