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Program will train science, math teachers…

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Nonprofit news roundup 

Program aims to train science, math teachers

President Obama announced plans for a $250 million public-private effort to train more than 10,000 new math and science teachers over the next five years and provide on-the-job training for another 100,000 in science, technology, engineering and math, The Washington Post reported Jan. 6 (see science and math funding story). Funding comes from high-tech businesses, universities and foundations.

Stanford loses $4.6 billion in fiscal 2009

Stanford University’s net assets fell by 21 percent, a $4.6 billion hit to the school’s endowment, in fiscal 2009, The San Francisco Chronicle reported Jan. 7 (see Stanford story). While cuts have had minimal impact on students so far, that could change as the school reduces its payout from its endowment by 10 percent this year and 15 percent in 2011.

Salvation Army gets bogus $25,000 check

The Salvation Army’s Lowcountry operation received a check for $25,000 the Friday before Christmas and found out the check bounced a few days after spending all the funds, The Post and Courier reported Jan. 6 (see Salvation Army story). Part of a hoax played on several charities, the Salvation Army may have to cut back on some activities it had planned for the winter.

Wesleyan sues its former endowment chief

Wesleyan University has sued Thomas Kannam, its former chief investment officer, for breach of contract, claiming he formed his own investment company on the side while managing the school’s endowment, Bloomberg reported Jan. 6 (see Wesleyan endowment story). He was fired in October.

Chinese corporate philanthropy seen lagging

Most major companies in China do not have a strategic plan for their philanthropy, few cooperate with nonprofits and communication around philanthropy is insufficient, says the Chinese Corporate Philanthropy Index, published by the China Social Entrepreneur Foundation and Horizon Research Consultancy Group, CSR Asia reported Jan. 6 (see Chinese corporate philanthropy story).

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