Wealthy colleges should spend more of endowments, senator says
U.S. Sen. Charles Grassley says a survey by the Internal Revenue Service that led to audits of Harvard University and over 30 other colleges shows the wealthiest schools should spend more of their endowments, Bloomberg reported May 14 (see IRS endowments story).
Nonprofits hunt hard for prospective donors
Nonprofits are working hard behind the scenes hunting for prospective donors through the use of increasingly sophisticated technology, surveying salary histories, scanning LinkedIn connections or using satellite images to look at the size of their swimming pools and even getting email alerts when their stock holdings double, The Wall Street Journal reported May 16 (see charity prospecting story).
TIAA-CREF getting into managing endowment investments
TIAA-CREF, which oversees over $400 billion in pensions for teachers and academic researchers, aims to expand into managing investments for endowments and foundations, Bloomberg reported May 17 (see endowment-management story).