Social-services groups struggling
Social-services charities in the U.S. are struggling under the weight of increased demand and anemic funding, with Catholic Charities reporting that three-quarters of its affiliates are seeing needs for food spike, while almost as many have cut operating costs, The Associated Press reported Dec. 16 (see struggling charities story).
Boston Foundation acknowledges accounting error
An inadvertent accounting error at the Boston Foundation resulted in an overstatement of the value of about 900 donors’ funds by an estimated $30 million last summer, The Boston Globe reported Dec. 16 (see Boston Foundation story). The foundation has made donors aware of the mistake, which did not affect the amount awarded in grants by the funder.
Indiana medical school gets $60 million grant
Indiana University Medical School received $60 million from the Lilly Endowment to recruit and train researchers and scientists, The Associated Press reported Dec. 15 (see Lilly Endowment story). The institution, which is the state’s only medical school, will use the funds to create the Indiana Physician Scientist Initiative.
Utah charities struggle for financial survival
Utah charities serving some of the state’s neediest residents are themselves struggling for financial survival, says a survey by the Community Foundation of Utah, Deseret News reported Dec. 15 (see Utah charities story). More than a third of nonprofits have no reserves, and 40 percent of those that do have tapped into them or soon will.
Hawaiian school sees endowment drop by $2.2 billion
The endowment of Kamehameha Schools, which educates children of native Hawaiian ancestry, fell by $2.2 billion, or 23.7 percent, during fiscal 2009, The Honolulu Advertiser reported Dec. 16 (see Kamehameha Schools story). To cope, the trust has cut spending by 10 percent and top executives have taken a pay cut.