Stanford scraps sale of assets
Citing a welcome uptick in the markets and its endowment’s liquidity, Stanford University has scrapped the sale of $5 billion in private-equity, natural-resources and real-estate holdings, Reuters reported Dec. 15 (see Stanford assets story). The school planned the sale after losing about 30 percent on its endowment in fiscal 2009.
Charities go online during holiday season
Charities in Maryland are broadening their fundraising approaches to include internet-based vehicles like Twitter and Facebook, The Baltimore Sun reported Dec. 15 (see online fundraising story). Salvation Army supporters can create virtual fundraising kettles on their pages, and the Red Cross is sending Twitter updates with news about fund-drive efforts and families assisted.
MassMutual sees sales of nonprofit retirement plans jump
Sales of nonprofit retirement plans for MassMutual spiked 76 percent in the first 10 months of 2009, compared to the same period in 2008, in part due to activity among health-care nonprofits, private-education groups and religious organizations, Insurance and Financial Advisor reported Dec. 14 (see nonprofit retirement sales story).
Mayo Clinic raises $1.3 billion
The Mayo Clinic has raised $1.3 billion, exceeding the $1.25 billion goal for its five-year capital campaign, with more than 80 percent of contributions coming from patients of the clinic, The Post-Bulletin reported Dec. 14 (see Mayo Clinic story).
Jewish charity sees revenue plummet
Combined Jewish Philanthropies of Greater Boston logged revenue of $41.1 million in fiscal 2009, down 65 percent from the $117.1 million it raised in 2008, The Boston Business Journal reported Dec. 14 (see Jewish Philanthropies story). The charity lost $49.3 million on its investments in fiscal 2009, and donor support fell to $84.4 million from $106.7 million.
University of Michigan gets $15 million gift
The University of Michigan received $15 million from the Ted and Jane Von Voigtlander Foundation to help build a new women’s hospital, Free Press Education reported Dec. 15 (see University of Michigan story). The foundation is named for the founder of Discount Tire Company and his wife.