Kellogg investing $75 million in race initiative
The W.K. Kellogg Foundation is awarding $75 million to civic groups working to end racial disparities in communities throughout the U.S., the largest investment the foundation ever has made in a single initiative, The Washington Post reported May 11 (see Kellogg race initiative story).
Nestle chief says corporate giving misuses shareholder funds
The chairman of Nestle said corporate philanthropy is a misuse of shareholder funds, that social problems are the joint responsibility of government, civic groups and business, and that throwing money at problems can make them worse, Finance Markets reported May 11, citing a report in Bloomberg (see corporate philanthropy story).
Education endowments in Russia trail those in West
While roughly 50 endowment funds have been created in Russia in the three years since an endowment-funds law was passed, with 70 percent of them totaling 2.7 million rubles, or $90 million, endowments even at large universities are small compared to their counterparts in the West, The Moscow Times reported May 12 (see Russian education endowments story).