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BlackRock Establishes Corporate Foundation...

BlackRock, Inc. has made a charitable contribution of its remaining 20 percent stake, 15.6 million shares, of PennyMac Financial Services, Inc., with a market value of $589 million, to fund the firm’s social impact efforts to advance a more inclusive and sustainable economy. The contribution will provide long-term funding for the firm’s future philanthropic investments […]

Endowments Investing In Women, Minorities...

The nation’s largest foundations invest, on average, between 9 and 14 percent of assets with women- or minority-owned investment firms, according to a new report. “Diversity of Asset Managers,” a study released by The John S. and James L. Knight Foundation, assesses representation of women and racial or ethnic minorities among investment firms used by […]

Stake Driven Through Transylvania’s United Way...

It’s been a tough year for the United Way of Transylvania County (UWTC). Steve Pulliam retired in February after 19 years as CEO. His immediate successor, Louis Negrón, stepped down seven months later. In September, the Brevard, N.C.-based affiliate faced a $60,000 shortfall that was covered by a stopgap loan. Earlier this month, the board […]

NIA Lands Its 20K Member...

Nonprofits Insurance Alliance (NIA), an insurer focused on the 501(c)(3) nonprofit sector, unveiled its 20,000th member. 4CS of Passaic County based in Paterson, N.J., provides financial assistance with childcare to low-income families and helps struggling parents and caretakers obtain accessible, affordable, and quality childcare. 4CS joins nonprofits across 32 states and the District of Columbia as NIA members. NIA surpassed 10,000 members in 2010 and with the new milestone has doubled in less than nine years, according to the organization. The network […]

#GivingTuesday Can Be More Than An Ask...

Lots of nonprofits ask for donations on #GivingTuesday but there are plenty that also use the annual day of giving as an opportunity to thank donors. Some of them even have found that to be a great fundraising opportunity. Last year, Indianapolis, Ind.-based Second Helpings aimed to thank 1,500 donors on #GivingTuesday. In the process […]

Chick-fil-A Foundation Ends Commitments To Two Anti-LGBTQ Groups...

The Salvation Army is pushing back after the Chick-fil-A Foundation announced it would cease funding it and the Fellowship of Christian Athletes after pressure from LGBTQ organizations. The Chick-fil-A Foundation referred all calls regarding its funding priorities for 2020 to its website. The person answering the phone, identified only as “Dante,” read a few sentences […]

Good360 Launching Regional Distribution Centers...

Product philanthropy nonprofit Good360 is launching Regional Operating Centers (ROCs) for in-kind donation distribution. The intention is to bolster network capacity to receive product donations in large and frequent volumes and disseminate them based on need. Funded by Good360 via a $1 million grant from Walmart, two new ROCs will open this fall, serving the Baltimore, […]

Despite Volatility, Endowments, Foundations Optimistic...

Only 14 percent of nonprofits running endowments and foundations expect a recession within the next two years while barely 1 in 10 (11 percent) have made no adjustments to their portfolio’s risk exposure. Despite that, a slowdown in economic growth poses the greatest threat to short-term performance, according to almost half of respondents (46 percent) […]

Impact Investing Catching On With Family Foundations...

The number of family foundations engaged in mission and impact investing has doubled since 2015, with more foundations planning to institute or expand it. Family foundations created since 2010 are much more likely to use program-related investments and other mission-related or impact investing approaches, according to Trends 2020, the second national benchmark survey of family […]

Grant Thornton Launches Funding For Emerging NPOs...

Accounting and advisory firm Grant Thornton LLP has launched Purple Paladins – a national program that provides nonprofits with funding, business advice and volunteer support, while also helping them share their stories with thousands of people. The firm and its professionals kicked off Purple Paladins by surprising their first recipient — Chicago nonprofit Coming Up Rosies — […]