A free email with news, trends, and opinion articles about the nonprofit world, as well as links to our tools, resources, and webinars. Delivered every weekday.
From: The Chronicle of Philanthropy
Subject: Education Trust Names Interim CEO as John King Starts Md. Gubernatorial Run
We’re sorry. Something went wrong.
We are unable to fully display the content of this page.
If you continue to experience issues, contact us at 202-466-1032 or firstname.lastname@example.org
Education Trust Names Interim CEO as John King Starts Md. Gubernatorial RunAlso, Open Society Foundations names a new senior official, the Poetry Foundation has appointed its first president of color, and the National Crime Prevention Council has a new chief executive.
Letter to the Editor
We Agree, Foundations Should Be Held Accountable for High Salaries and Staggering ExpensesTwo former foundation officials support the idea of challenging the “staggering” redirection of charitable dollars to pay for “bloated foundation staff” and administrative expenses.
Nonprofit News From Elsewhere
The U.S. system of food charity has been essential during the pandemic, but it also papers over, or even helps perpetuate, widespread food insecurity. Food banks subsidize poverty-level wages and take the heat off of corporations to pay a living wage. Meanwhile, they give favorable publicity to those same corporations, some of which donate food by the ton. Food banks are often governed by white board members from private industry, a world away from their clients, many of whom are people of color. “Food philanthropy is focused on mitigating rather than ending hunger because it is connected to capitalism by the hip,” said Raj Patel, a scholar of food poverty and philanthropy. “There is so much money to be made in food aid through tax breaks, free publicity, salaried executives, electronic Snap cards.” (Guardian)
Thousands of people living in affordable-housing developments could be squeezed out by private investors in a federal program gone awry. The Low-Income Housing Tax Credit program, launched in 1986, gave tax credits to lenders, usually large banks, that supported housing nonprofits. At the end of 15 years, the nonprofit could buy out the lender’s stake at below-market rates. But many lenders sold their shares instead, and many of the buyers are investors looking to reap market prices from the sales of the properties. In Boston, the Tenants’ Development Corporation and Alden Torch Financial are suing each other after Alden rejected a $17 million offer for its share of 36 properties, which Alden says are worth as much as $54 million. “Honestly, I think it’s a national crisis,” said David Goldstein, a lawyer for a Brooklyn, N.Y., housing group locked in a similar battle. (WBUR)
- As India’s Covid-19 Cases Spiral, Faith Groups Step Up (Religion News Service)
- Groups Helping Medical Students Tied to Anti-Immigrant Outfit (Kaiser Health News)
- 8 Women Allege Sexual Abuse at Va. Summer Camp Run by Nonprofit (Associated Press)
- Connecticut College Alumnus Donates $50 Million to University (Hartford Courant)
- Michelle T. Boone Named President of Poetry Foundation (New York Times)
- San Francisco Nonprofit Will Pay Struggling Indie Venues’ Bills (Billboard)
- People-Focused Philanthropy Is on the Way Out. Philanthropy That Divides Is Taking Over. (USA Today)
- Maverick ‘Impact-First’ Investing Sits Between Philanthropy and Market-Rate Returns (MarketWatch)
Government and Regulation
Biden Plan Would Aid People in Poverty and Nonprofits That Serve ThemNonprofits said they were pleased that Biden did not propose paying for those changes by limiting itemized deductions, including those for charitable giving, for people making $400,000 or more annually.
Donor Privacy Case Before the Supreme Court Is a Threat to Nonprofit TransparencyThe challenge to a California law by the Americans for Prosperity Foundation could set in motion broad changes to nonprofit tax rules that would undermine trust in all civic institutions.
With Aid From Gates, WHO Foundation Launches Fundraising Campaign to Support Global Vaccine DistributionThe Go Give One campaign aims to mobilize small-dollar donors around the world to support Covax, the international effort to ensure equitable global distribution of Covid-19 vaccinations.
With Philanthropic Support, Artists Can Help Rebuild American Democracy One Song at a TimeAt a moment when society is so divided by authoritarian ideologies and partisan politics, it’s hard to find spaces of common ground. Cultural expression can create those spaces — particularly music.
To Transform Policing, Philanthropy Must Support Efforts to Abolish ItDerek Chauvin’s guilty verdict was just the start. Now grant makers need to make sure their dollars go where they will make a real difference — to abolitionist movements leading the fight for just and lasting change.