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Showing posts from March 21, 2010

Tracking America's leading Foundation endowments

The nonprofit world might not be as interested in tracking the ups and downs of Wall Street as they are the financial fortunes of the major Foundation endowments in the universe of philanthropic grant makers. Granted, the success of Wall Street is sure to effect these endowments because of their investment portfolios, but not all of the wealthiest endowments are as diversified as you might think. Here is one example. clipped from Lilly Endowment's
value plunges versus
its peers
Hard economic times for Lilly Endowment
continue, threatening to reduce the
amount of money that goes to Indiana
charities such as food pantries and arts
The endowment's 2009 value dropped an
estimated $1 billion, or about 15 percent,
in a year when the S&P stock index
gained more than 19 percent.
The endowment is heavily invested in
drug maker Eli Lilly & Co. stock, which
has been on the decline since the
company lost its patent on the anti-
depression blockbuster Proza…

A Billionaire’s Pact With God

Gubay started building his fortune when he established KwikSave, a retail chain selling cheap goods, in the 1960s. He sold the business in 1973 for $28 million. Not stopping there, he replicated the KwikSave business model in New Zealand, Ireland and the United States, and invested the profits from those business into real estate in the United Kingdom. The move proved savvy: property prices in the U.K. had been on a steep upward trajectory up until about two years ago.

clipped from Albert Gubay is pledging most of his fortune to charity, fulfilling a promise made early in his career. | Retailer turned real estate guru. Made his first fortune in 1973 when he sold his U.K. discount retail chain Kwik Save for $28 million. Repeated his Kwik Save model in New Zealand, Ireland and the U.S., investing the profits in real estate in places such as Liverpool, Manchester, Sheffield, Hull and tax have…