Harvard warned about investment risks
The head of Harvard University’s endowment repeatedly warned the school’s president that the institution needed to rein in its risky cash investments, The Boston Globe reported Nov. 29 (see Harvard investments story). The university, which saw $1.8 billion in cash evaporate when the markets tanked, was forced to cut budgets and delay expansion plans.
Salvation Army’s red kettles now accept plastic
After testing the concept last year, the Salvation Army is bringing its red fundraising kettles into the 21st century by equipping them to accept credit and debit cards, The Associated Press reported Nov. 27 (see Salvation Army story). Kettle donations last year totaled $130 million, up 17 percent from 2007.
Man arrested in Salvation Army kettle theft
A Toledo man was arrested for stealing one of the Salvation Army’s red fundraising kettles in Maumee, Ohio, The Associated Press reported Nov. 30 (see red kettle theft story). The charity estimates the kettle held $500 to $700.
University of Montana raises $22.6 million in fiscal 2009
The University of Montana Foundation raised $22.6 million in fiscal 2009, income that barely makes up for the $22.2 million that evaporated in investment losses, The Associated Press reported Nov. 27 (see University of Montana story). Some of those losses have been recouped in the recent market recovery, the foundation says.
Indiana charities wish for more holiday donations
With the recession driving needs to unprecedented levels, charities in Indiana are hoping for a surge in donations, The Associated Press reported Nov. 30 (see Indiana charities story). Most of the people seeking help from the state’s nonprofits are first-timers, and charities are seeing demand jump by 50 percent and more.
Arab philanthropy growing, but needs support
As personal wealth in Arab countries grows, so does support of nonprofits, with one study estimating that 7 percent of wealthy Arabs’ portfolios are directed to philanthropy, Ashraf Zeitoon wrote in an opinion column in The Financial Times Nov. 25 (see Arab philanthropy column). To pave the way for continued progress, Arab countries should revamp regulations and policies governing philanthropy and charitable organization.