University’s purchase of gold reinforces analysts’ concerns
The investment arm of the University of Texas has started buying gold, reinforcing the fears of some analysts that high inflation and increasing U.S. debt will hurt the value of more commonly-held endowment securities such as bonds, Inside Higher Ed reported Aug. 30 (see charity investment story).
Salvation Army quits United Way in Massachusetts
Citing a 54 percent cut in United Way funding from three years ago, the Salvation Army of Massachusetts ended its ties with United Way of Massachusetts Bay and Merrimack Valley, ending a 70-year relationship, The Boston Globe reported Aug. 28 (see charity dispute story).
Feed The Children investigating founder’s possible kickback
Feed The Children is investigating whether its founder, Larry Jones, used a major kickback to help pay off a $1 million construction loan on his new house, The Oklahoman reported Aug. 30 (see Feed The Children story). Jones told the newspaper he and his wife, Frances, used personal funds to pay off the loan.
British charities pay steep fees to fundraising firms
British charities pay tens of millions of pounds every year to subcontracted firms that sign donors, but in some cases it would take the average donor over a year to cover the fee, the equivalent of about 100 pounds, or over $155, BBC News reported Aug. 26 (see fundraising fees story).