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Senator examines medical nonprofits…

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Nonprofit news roundup 

Senator examines medical nonprofits

Sen. Charles Grassley, the ranking Republican on the Senate Finance Committee, has asked 33 medical nonprofits to provide information on the financial support they receive from corporations, The Wall Street Journal reported Dec. 7 (see medical nonprofits story). The senator aims to determine whether the organizations, including the American Medical Association and American Cancer Society, have received incentives from corporations to lobby Congress on behalf of pro-industry positions.

Companies swap holiday parties for volunteer events

Coming off the deepest economic downturn in decades, many employers are swapping fancy holiday parties for volunteer events that help others in need, MSNBC reported Dec. 7 (see holiday parties story). Only 62 percent of companies are planning holiday parties this year, compared to 77 percent last year and 90 percent in 2007.

Microfinance explores student loans in developing countries

With the help of nonprofits like Vittana.org, microfinance institutions in developing countries are beginning to offer student loans in developing countries, The New York Times reported Dec. 5 (see student loans story). Through Vittana, individual donors can back loans to people seeking college educations, a practice many mainstream banks are unwilling to pursue.

Massachusetts charities get 41 percent of money raised by solicitors

Professional fundraising solicitors keep about 59 center of every dollar they raise on behalf of charities in Massachusetts, passing along only about 41 cents to their nonprofit partners, says a report from the state’s attorney general, The Worcester Business Journal reported Dec. 7 (see charity solicitors story). Professional solicitors raised a total of $292 million in 2008, $120 million of which was passed along to the charities they represent.

Vermont charities get 33 percent of dollars raised by solicitors

Charities in Vermont received less than a third of the money raised on their behalf by professional fundraising solicitors in 2008, says a report from the state’s attorney general, The Associated Press reported Dec. 7 (see Vermont fundraising story). Of the $8.4 million total raised by solicitors, charities received about $2.6 million.

Loyola gets $50 million for scholarships, building

Loyola University received $50 million for scholarships and a new academic building from the Cuneo Foundation, a long-time supporter of the school, The Associated Press reported Dec. 8 (see Loyola donation story).

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