Rockefeller invests in ‘social-impact’ bonds
The Rockefeller Foundation is giving $400,000 to the Nonprofit Finance Fund to develop in the U.S. the British concept of “social-impact bonds” that spur private investors and philanthropic foundations to fund privately-managed social programs, with the government paying investors if the social programs hit their targets and social outcomes improve, The Wall Street Journal reported Feb. 15 (see social-impact bonds story).
Bloomberg’s foundation giving $32 million to arts groups
A year after ending a charitable program that gave nearly $200 million to hundreds of arts and social-service groups, the foundation of New York City Mayor Michael Bloomberg is inviting 250 cultural groups in the city to apply for some of the $32 million the charity plans to give to arts organizations over the next two years, The Wall Street Journal reported Feb. 15 (see Bloomberg philanthropy story).
Walmart Foundation chief champions company’s commitment
Margaret A. McKenna, a former civil rights lawyer who enforced labor laws and former president of Leslie College who now is president of the Walmart Foundation and oversees $500 million a year in giving, says she would not have taken the job three years ago she “did believe the company had the commitment to treat people fairly now, and to give back to the community,” The Boston Globe reported Feb. 16 (see Walmart Foundation story).
Share on housing giving in Britain unchanged in 20 years
Research by the University of Bristol and City University London finds donations to charity in Britain represent 0.4% of household spending, exactly the same share as in 1988, with the average donations, including those who give and those who do not, more than doubling since 1978 to 2.36 pounds, or $3.79 a week, in 2008, UK Press Association reported Feb. 15 (see British giving story).