Bono’s charity, its spending questioned, says its goal is to raise awareness
The nonprofit One campaign founded by superstar Bono received nearly 9.6 million British pounds in donations in 2008, or over $15 million, but handed over only 118,000 pounds, or $184,803, to good causes, while it spent over 5.1 million pounds, or nearly $8 million, on executive and staff salaries, Metro reported Sept. 21 (see Bono charity story). The group says it is funded by a small group of philanthropists, including the Bill & Melinda Gates Foundation, and does not fund charities but focuses its efforts on lobbying and raising awareness about urgent global issues.
Clinton kicks off philanthropy summit
Former President Bill Clinton opened his philanthropic summit by pushing corporations and nonprofits to promote economic growth and gear for a rising number of natural disasters, Reuters reported Sept. 21 (see Clinton philanthropy story).
Gates has $400 million for new grants, thanks to cost-cutting moves
The Bill & Melinda Gates Foundation has over $400 million for new grants, the result of cost-cutting moves it made in 2009 and a recent rebound in its endowment, the Puget Sound Business Journal reported Sept. 17 (see Gates Foundation story).