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March 10, 2017

Daily News Roundup: Top Fla. Lawmaker Targets University Foundations

Fla. House Eyes Spending by College Fundraising Groups: Marshalling legislative forces for an expected effort to cut state universities' budgets, Florida House Speaker Richard Corcoran is calling attention to campus-affiliated foundations' use of taxpayer money for salaries, international travel, and other expenses, the Tampa Bay Times reports.

Public Radio and TV Stations Brace for Budget Fight: President Trump's antipathy for the media is expected to add fuel to conservatives' calls to cut government money for the Corporation for Public Broadcasting, which helps fund PBS, NPR, and hundreds of local and regional outlets, reports The Wall Street Journal (subscription).

Ex-Hedge Fund Manager Brings Trading Style to Foundation: Jeff Vinik's family philanthropy traded $1.9 billion in public securities in 2015, an unusually active portfolio for the foundation world, and realized market-beating gains that covered its donations for that year, Bloomberg writes, citing Vinik Family Foundation tax filings.  

Donors Buy More Than a Million NY Times Subscriptions for Students: The campaign launched by The New York Times last month has drawn more than 15,000 contributions to cover 1.3 million online subscriptions, including an anonymous $1 million gift the newspaper is using to expand digital offerings for student readers, Adweek writes.

$40 Million Paul Allen Gift Upgrades U. of Washington Computer Dept.: Microsoft, the company Mr. Allen co-founded, kicked in an additional $10 million to establish an endowment for the university's school of computer science, which was elevated from academic-department status and named for the billionaire philanthropist, The Seattle Times reports.

NFL Player Promises Endorsement Earnings to Learning Ventures: Seattle Seahawks defensive end Michael Bennett said his off-field income for 2017 would support education projects in minority communities, reports the Seattle Post-Intelligencer. Mr. Bennett said the pledge was inspired by hip-hop star Chance the Rapper's $1 million donation this week to Chicago Public Schools. Look for a report on celebrity giving in the April issue of The Chronicle of Philanthropy.