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Young lawyers considering public-interest law…

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Nonprofit news roundup

Young lawyers considering public-interest law

Many law-school graduates in the class of 2009 who took the option that law firms offered them, in the face of the recession, of a year of public-sector work with a stipend before beginning jobs as associates at the firms now are rethinking their career path and looking at public-interest law, The New York Times reported Aug. 19 (see lawyers’ public service story).

Critics say private foundations should give more

While the law requires private foundations to spend only 5 percent of their endowment per year, with 20 percent of that permitted to be spent on administration costs, critics say foundations should be spending more in difficult times rather than serving as “perpetual monuments to yesterday’s donors,” The Wall Street Journal reported Aug. 20 (see foundation giving story).

Billionaires making charity pledge seen committed to capitalism

What unites the 38 billionaires who already having taken up the challenge by Warren Buffett and Bill Gates to pledge they will give at least half their fortunes to charity over their lifetime or at their death is their commitment first to making money and then to giving it away, reflecting the private sector’s power, Mary Kate Cary wrote Aug. 18 in U.S. News & World Report (see billionaires’ pledge story).

Diamond controversy claims trustee of Mandela charity

A trustee of Nelson Mandela Children’s Fund quit over his decision to keep quiet about receiving uncut diamonds from supermodel Naomi Campbell 13 years ago, The New York Times reported Aug. 19 (see Africa diamonds story).

Rock hall of fame gets $5 million endowment

The Rock and Roll Hall of Fame and Museum established an endowment with a $5 million gift from the New York City-based Rock and Roll Hall of Fame Foundation, which runs the Cleveland museum, The Plain Dealer in Cleveland reported Aug. 16 (see Rock and Roll Hall of Fame story).

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