News & Articles
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.
Scan the group carefully if you ever find yourself in a meeting that includes chief executives of medium to large-sized established nonprofits. Chances are the age of most of the CEOs begins with a “6.”
Steve Gleason is confined to a wheelchair and has trouble speaking. The former defensive back with the New Orleans Saints football team was diagnosed last year with Amyotrophic Lateral Sclerosis (ALS), also known as Lou Gehrig’s Disease. He’s creating a video journal to share with his newborn son, Rivers, in the future.
The nation’s major software vendors have been generous with product donations. Either directly or working through a pass-through entity, a nonprofit could get software either free or at a discounted rate. The box would show up and the organization was in business.
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December 30, 2014Table Of Contents
Special ReportSpecial Report: Accounting Software
Vol 29 No. 1
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