NPO | The infamous side of philanthropy

Every one who has worked in or been around philanthropy knows that charity attracts its share of dubious benefactors. Fortunately, we don't find such stories reported often, but the current worldwide financial situation seems to have brought more of this to the light of day.
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clipped from www.washingtonpost.com Arts philanthropist Alberto Vilar gets 9 years in prison for Amerindo fraud Alberto Vilar, the technology investor who once promised a $50 million donation to the Kennedy Center that never materialized, was sentenced to nine years in prison Friday for stealing from clients at his Amerindo Investment Advisors. A judge rejected pleas from Alberto Vilar, 69, to give him only community service because of his age and poor health. (2005 Photo By Louis Lanzano/ap)

NPO | Which states learn from N.J. mistakes?

No surprise, but this story reports that even the most wealthy Americans can become gypsies when they have had enough with the "soak the rich" mentality of their local legislatures. California should take notice.

clipped from web.me.com N.J. loses $70B in wealth over four years More than $70 billion in wealth left New Jersey between 2004 and 2008 as affluent residents moved elsewhere, according to a report released Wednesday that marks a swift reversal of fortune for a state once considered the nation’s wealthiest. | http://nj.twi.bz/b SOURCE | http://google.twi.bz/oo SEARCH | http://google.twi.bz/2z @ltaCITIES Blog Creations on iWeb | IWE: My iWEB Blogs | http://me.twi.bz/X Help us reach 1,234 subscribers by 5:06 pm (7 sec) on 8-9-10 Matching the numerical sequence 12345678910 Details here | http://me.twi.bz/5 When you change the way you look at things, the things you look at change. SOURCE URL:     http://altacities.blogspot.com/

NPO | Obama budget: Higher taxes on wealthy, less revenue for charity?

“It’s frankly surprising to see this proposal come back this year, it was very controversial last year,” said Tom Riley, vice president for communications at the Philanthropy Roundtable. “This of all times isn’t the time to take actions that would discourage charitable giving. The need for non-profits hasn’t been higher for a generation.”

Roberton Williams, a senior fellow at the Tax Policy Center said the rule change would make it about 10 percent more expensive for individuals affected to donate to charity. He estimated that would correspond to a $10 billion drop in donations out of the $300 billion Americans give annually.

“From the perspective of charities, they’re in a tough time right anyway,” Williams said. “Some charities have been seeing a drop-off in donations and charities themselves that have endowments are seeing a drop-off in return from investments. It’s a double whammy.”
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clipped from dailycaller.com White House budget cut to charitable deduction alarms philanthropists and non-profits The Obama administration’s fiscal 2011 budget proposes cutting the tax deduction for charitable donations, alarming both philanthropists and non-profits across the country. Copies of President Barack Obama's budget are delivered to the Senate Budget Committee on Capitol Hill in Washington, Monday, Feb. 1, 2010. (AP Photo/Manuel Balce Ceneta) The White House is expecting to collect an additional $291 billion over the next decade by reducing the write-off for families earning over $250,000 despite the fact Congress roundly rejected such a measure last year. While the administration is portraying this as a populist move, experts have said the end result will be a significant blow to charities and non-profits already reeling in the midst of the recession.

NPO | Gates: "We must make this the decade of vaccines"

"Because of the impact we're seeing from vaccines we'll actually spend a higher percentage on vaccines," Gates told the WSJ.
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Obviously still committed to the major philanthropy of administering polio vaccines through Rotary International, Bill and Melinda Gates now announce a major vaccine initiative for other diseases. | The Microsoft tycoon announced at the World Economic Forum that the money will come over the next decade from the foundation he runs with his wife Melinda, and that vaccines will become the top priority for the foundation. | The Bill and Melinda Gates Foundation has now committed more than 25 billion dollars to various health projects, especially targeting AIDS and polio and other diseases that hit poor countries.
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clipped from news.google.com Featured photo Bill Gates pledges $10 bln for vaccines for poor AFP - ‎50 minutes ago‎ DAVOS, Switzerland - Bill Gates, the world's richest man, on Friday promised 10 billion dollars to develop vaccines for the world's ... all 493 news articles »

NPO | Mayo Clinic campaign success shows poor economy doesn't always impair philanthropy

The link for this item came from my GOOGLE news page, but the source is the Minneapolis Star-Tribune with a report on the high level of success by the Mayo Clinic with their current transformational fund-raising drive. The results reveal a nominal effect of the depressed economy on this current campaign.
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clipped from www.startribune.com Mayo Clinic's philanthropy campaign raises $1.35 billion Mayo Clinic said Tuesday it raised $1.35 billion in its first sustained philanthropy campaign, showing that the famed clinic can still pull in donations despite a weak economy. Mayo raised the amount in five years instead of the seven years initially set for the campaign, and exceeded its target of $1.25 billion. "The campaign's success is a reflection of the trust patients and the public have in Mayo Clinic," said chief executive Dr. John Noseworthy.