Nonprofits reporting year-end deficits
A report from the University of San Diego says more than one-third of local charities are operating in the red, following a pattern in which 30 percent to 40 percent of local nonprofits since 2000 have ended their budget years with a deficit, The San Diego Union-Tribune reported May 19 (see nonprofit finance story).
Nonprofit hospitals face tough financial times
A Moody’s Investor Service report says nonprofit hospitals face tough financial times in all aspects of operations and capital strategies because of health-care reform and other industry structural shifts, including tighter reimbursement from all payers, HealthLeaders Media reported May 18 (see nonprofit hospitals story).
TIAA-CREF hires Rice University endowment chief
TIAA-CREF, which oversees more than $400 billion in pensions for teachers and academic researchers, named Scott Wise, who has run the endowment at Rice University since 1989, to oversee an expansion into investment management for endowments, Bloomberg reported May 19 (see TIAA-CREF story).