Illinois Supreme Court takes on nonprofit-hospital case
The Illinois Supreme Court will hear oral arguments to determine if a nonprofit Catholic hospital is providing enough charity care to warrant tax-exempt status, The Associated Press reported Sept. 23 (see hospital tax story). The outcome of the case involving Provena Covenant Medical Center could affect nonprofit hospitals across the country.
Entrepreneurs see recession lingering, report says
While many economists say the economy is beginning to turn around, few American entrepreneurs are adding jobs and about a third are cutting positions, says a new report from the Kauffman Foundation, KansasCity.com reported Sept. 22 (see Kauffman report). Most entrepreneurs say the federal stimulus package has hurt entrepreneurial activity and seven in 10 believe the recession will last another year or two.
Yale loses 25 percent on endowment investments
Yale University lost 25 percent on its endowment investments in fiscal 2009, dragging the endowment down to $16.3 billion as of June 30 from $22.9 billion a year earlier, The Wall Street Journal reported Sept. 23 (see Yale endowment story). The school blames the poor performance on steep losses on investments in commodities and real estate.
Dell Foundation invests $10 million for student database
The Michael & Susan Dell Foundation is investing $10 million to help state officials in Texas create a student-data system that would provide teachers with historical information student performance, The Austin American-Statesman reported Sept. 23 (see Dell Foundation story). The system would provide access to information on academic, attendance, disciplinary and testing records for individual students.
Giving in Britain falls 11 percent
Charitable donations in the U.K. fell by 11 percent over the past 12 months, equating to a drop of about $2.1 billion in contributions to the nation’s charitable sector, The Press Association reported Sept. 24 (see British charities story).
Princes William and Harry deepen charity work
British princes William and Harry are working to deepen their efforts on behalf of charities in their country through their Princes’ Charity Forum, BBC News reported Sept. 23 (see princes’ charities story). Meetings are organized twice a year to convene diverse charities to exchange ideas and resources.