Household giving falls 5.3 percent
While early estimates predict household giving in the U.S. dropped 5.3 percent to about $217 billion during 2009, giving this year could return to pre-recession levels, says a new report from the Boston College Center on Wealth and Philanthropy, The Boston Globe reported Feb. 1 (see household giving story).
Williams College ends no-loan financial-aid program
In an effort to cut costs in the wake of steep losses by its endowment, Williams College is ending its policy of providing grants to replace loans in students’ financial aid packages, a move that is forcing some families to seek additional help, BusinessWeek reported Feb. 1 (see Williams College story).
Philanthropy tourism called ‘exploitation’
Philanthropy tourism, which takes travelers to developing countries to better understand poverty and social problems in third-world countries, has been labeled “slum tourism” by some, who say the practice is “pure exploitation,” The Wall Street Journal reported Feb. 1 (see “slum tourism” story).
Pepsi launches $20 million donation campaign
While it won’t be advertising during this year’s Super Bowl broadcast, Pepsi is introducing its Pepsi Refresh Project, which will give away at least $20 million this year through social media outlets to social causes supported by consumers, The New York Times reported Jan. 31 (see Pepsi giving story).
Heiress’ estate to go to foundation
A judge has invalidated one of two wills created by the late tycoon heiress Nina Wang, a decision that frees up her estate to go to Chinachem Charitable Foundation rather than a man who claimed to be her lover, MarketWatch reported Feb. 2 (see Hong Kong funder story).
Red Cross faces challenge in regaining public trust, some say
Donors have given more than $203 million to the American Red Cross’ Haiti Relief and Development Fund since the Jan. 12 earthquake, but given the charity’s questionable track record over the past decade, some experts question whether the group can regain the public’s trust, CNN reported Feb. 2 (see American Red Cross story).