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Advocates pitch arts as economic engine…

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Nonprofit news roundup

Advocates pitch arts as economic engine

Arts advocates pushing for more federal spending for the arts are trying to make the case that the arts can create jobs and international goodwill, ABC News reported April 13 (see arts funding story).

Family foundations groom next generation

To help pass on skills their children will need to manage their family foundations as the recession has eroding the value foundation endowments, some families are setting up mini-foundations with smaller amounts of money for their heirs to manage, or forming junior boards of directors or foundation committees that put children in charge of tasks like setting up the foundation’s website, The Wall Street Journal reported April 10 (see family foundations story).

British endowment losses outstrip U.S.

A new report says British universities’ income from endowments and investments fell 32 percent in the past financial year, from 521.8 million pounds, or nearly $805 million, to 356.9 million pounds, or nearly $550.5 million, compared to an average decline of 23 percent at U.S. schools, The Times Higher Education reported April 13 (see university endowments story).

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