Giving by wealthy drops by a third
A new study says charitable giving by wealthy Americans fell by over a third between 2007 and 2009, with the worst U.S. recession in decades straining the nonprofit sector, Reuters reported Nov. 9 (see wealthy giving story).
Nonprofits compete for corporate support
A growing number of nonprofit are competing for corporate support in the troubled economy, but securing funds from companies lacking philanthropic traditions, like some hedge funds or private equity firms, can be tough, Reuters reported Nov. 10 (see corporate support story).
University of Louisville in $750 million campaign
The University of Louisville kicked off the public phase of biggest fundraising campaign ever, an effort to raise $750million that already has raised over $365 million in its quiet phase, including two $20 million gifts and 47 other contributions of $1 million or more, the Associated Press reported Nov. 10 (see university fundraising story).
Endowments’ rebound seen easing pressure on private colleges
The president of the National Association of College and University Business Officers says the recovery by college endowments of much of the money they lost in the economic downturn eases the pressure on many private colleges to cut budgets and lay off staff, U.S. New & World Report reported Nov. 3 (see college endowments story).