L.A. schools get OK to enlist corporate sponsors
Facing the possibility of big budget cuts, the Los Angeles school board unanimously okayed a plan to let the district to look for corporate sponsorships as a strategy to help fund the schools, a move officials say could generate up to $18 million, The New York Times reported Dec. 15 (see schools sponsorship story).
Massachusetts charities get only 43% of funds solicitors raise
The Massachusetts Attorney General’s Office says professional solicitors raised nearly $329 million in charitable donations in Massachusetts last year, but charities received only $141 million of that money, with the rest paying for fundraising expenses and solicitors fees, The Boston Globe reported Dec. 15 (see charity solicitors story).
Philanthropy keeps capitalism from ‘overheating’
Democracy gets in trouble when income distributions reach extreme levels of inequality, and philanthropy regulates the engine of free-market capitalism, keeping it from overheating and burning up, philanthropy writer Claire Gaudiani wrote in a guest column Dec. 15 in the San Francisco Examiner (see investment philanthropy article).