News & Articles
Two nonprofit health insurers in Washington State have accumulated record surpluses of more than $1 billion, causing the state’s insurance commissioner to sound the alarm.
The chairman and CEO of Ernst & Young and a board member of the Boy Scouts of America (BSA) has become the latest voice to speak out against the organization’s ban on gay members.
The bandit Willie Sutton was famous for saying he robbed banks because that’s where the money was kept. Nonprofits probably don’t need the firepower Sutton was packing. That doesn’t mean getting the cash is going to be as easy.
Crystal Cathedral Ministries, the megachurch started by Robert Schuller in Garden City, Calif., filed for Chapter 11 bankruptcy in 2010. A lawsuit filed late last year by creditors against the ministry’s founding members — the Schuller family — alleges that directors used more than $10 million from the ministry’s restricted endowment for operating expenses and staff salaries. Donors can restrict how endowment funds are spent and those restrictions are all but inviolable. Ignoring those restrictions and spending more of an endowment than the donor permits has a suitably piratical name: It’s “invading” the endowment.
Rev. Keith Ratliff, Sr. has stepped down from his positions as national board member and Iowa/Nebraska state conference president of the NAACP, due to the group’s support of gay marriage.
Giving by foundations in the United States was an estimated $46.9 billion in 2011, surpassing the $46.8 billion pre-recession peak recorded in 2008. Yet, after accounting for inflation, contributions by the nation’s more than 76,600 foundations were down slightly when compared to 2010.
Technology staff salaries declined significantly in nearly every position during 2011 with webmasters’ pay declining an average 25 percent to $44,442.58. And, more than half (55 percent) of nonprofits responding to the survey had a formal technology plan during 2011, a substantial increase compared to 2010.
Chase Community Giving, the philanthropic giving program of JPMorgan Chase banks, has opened nominations for its Fall 2012 program, with $7.5 million in grants to be awarded to organizations across the country.
The Seattle affiliate of Susan G. Komen for the Cure fell $700,000 short of its fundraising goal during Sunday’s Race for the Cure, as fall out appeared to continue from the breast cancer nonprofit’s attempt earlier this year to pull funding from Planned Parenthood.
Ten years after the first Ray and Joan Kroc Community Center was unveiled in San Diego, Calif., the largest Kroc Center is set to open this month in Chicago, Ill., leaving only a few more facilities to complete the late heiress Joan Kroc’s vision.