Goldman seeks help from Bridgespan
Having posted record profits in the third quarter, and setting aside a compensation pool of $16.7 billion for employees so far this year, Goldman Sachs is working with philanthropy-consulting group Bridgespan to determine how to use charity to mitigate public backlash against perceived greed, Bloomberg News reported Oct. 15 (see Goldman Sachs story).
New head of Chicago Symphony to target at-risk youth
Riccardo Muti, incoming music director for the Chicago Symphony Orchestra, says the organization will bring music to at-risk youth, including youthful offenders, The Associated Press reported Oct. 14 (see Chicago Symphony story). He also will recruit at-risk youth and juvenile offenders as music students, performers and audience members.
Spelman aims to raise $150 million
Spelman College in Atlanta has launched a campaign to raise $150 million by 2015, and plans to use much of the money to help financially-needy students attend the historically-black women’s college, The Associated Press reported Oct. 14 (see Spelman College story). The school raised $80 million during the quiet phase of the campaign.
Nonprofit hospitals struggle to keep up with for-profit peers
The economy is making life difficult for many small nonprofit hospitals, a trend that could mean a loss of market share to their larger investor-owned competitors, Dow Jones Newswires reported Oct. 15 (see nonprofit hospitals story). Nonprofit hospitals are having trouble accessing credit for necessary capital improvements, without which they could lose patients to wealthier for-profit facilities.
Black-history museum gets $10 million from Gates Foundation
The Smithsonian’s planned National Museum of African American History and Culture has received a $10 million infusion from the Bill & Melinda Gates Foundation, The Associated Press reported Oct. 16 (see Gates Foundation story). The Smithsonian will use the money for design and construction of the new museum.
Wilder foundation eliminates 260 positions
After sustaining a 17 percent hit to its endowment, the Amherst H. Wilder Foundation in St. Paul, Minn., will cut 260 of its 650 employees and will cease support of some programs, including foster-care services and home-health services, The Minneapolis St. Paul Business Journal reported Oct. 15 (see Wilder Foundation story).