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: George Soros’s Open Society Refocuses to Fight Authoritarianism Globally
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
Soros’s Open Society Returns More Focus to Fight Authoritarianism Around the GlobeThe transition will lead to cuts in grant-making programs that focus on scholarship, migration, and the future of work. It will also involve elimination of 200 jobs at Open Society.
Sonal Shah Tapped to Lead the Asian American FoundationAlso, PepsiCo has hired a new president of its corporate foundation, and two co-CEOs will lead Schwarzman Philanthropies.
Nonprofit News From Elsewhere
The Biden administration’s proposed tax hikes would give the wealthy more incentive to make charitable donations, a Biden aide told nonprofit leaders last week. Biden’s plan would nearly double the capital-gains tax rate for those who earn more than $1 million annually and would likely send those taxpayers looking for more deductions. The aide’s admission was implicit acknowledgment that the wealthy will look for ways around the tax hike. Some organizations are already pointing out to potential donors the increased value of gifts under the proposal, and one scholar said the enhanced tax break could give wealthy donors an excuse to give more to charities and leave less for their heirs. (New York Times)
Bill Gates’s objections to lifting patent protections for Covid vaccines raise questions about his foundation’s hold on intellectual property and the resulting implications for global public health. For example, the Bill & Melinda Gates Foundation owns a stake in a company that has agreed to supply 405 million doses of a Covid vaccine it is developing for the European Commission, “a deal that seems to raise new questions about Gates’s role in perpetuating vaccine apartheid,” given the relative scarcity of the vaccines in poorer countries. The foundation has said in the past that it uses its stakes in companies and intellectual property protections to channel innovation into solving public health issues in the developing world, but critics say these arrangements highlight the built-in conflict of interest among Bill Gates’s roles as philanthropist, businessman, investor, lobbyist, and adviser to policymakers. (Nation)
- The Gates Divorce Is About More Than a Marriage (Atlantic)
- Chicago Suburb Set to Pay Reparations, but Not All Are on Board (Associated Press)
- Millennial Philanthropy May Forever Change Finance (Financial Times — subscription)
- Judge Blasts San Antonio-Based Nonprofits as ‘Dangerous, Unsafe’ for Foster Children (San Antonio Express-News)
- Covid and George Floyd Spur $250 Million Joyce Foundation Pledge (Crain’s Chicago Business)
Arts and Culture
- Frank Gehry’s Surprisingly Subtle $233 Million Makeover of Philadelphia Museum of Art Revealed (Art Newspaper)
- Nadella Family Donates $15 Million to Seattle Children’s Hospital (KING 5)
- D.C. Ballet School Executive Admits Embezzling $1.5 Million (Daily Beast)
Donors Race to Aid India During Covid SurgeThe catastrophic wave of Covid-19 in India has prompted donors to send millions of dollars to the country, which Tuesday crossed the grim mark of more than 20 million cases of the killer disease.
They Came Through in a Crisis. Will 2020’s New Donors Keep Giving?Plus, Rockefeller heirs launch a campaign to block oil and gas development, and a global response to gender inequality is needed as women and girls lose ground in the pandemic (opinion)
New Report Says Charities Lost $300 Billion in 5 Years in Part Because Donors Stashed Money in Advised FundsNew research from a critic of donor-advised funds is based on tax records that show just how much charities received over five years.
A Key to Diversity in Nonprofit Boardrooms: Mobilize Donors to Force ChangeInstitutional investors have forced corporate boards to change. Now it’s time for wealthy trustees to take the same approach at the biggest and most powerful institutions.
Rockefeller Heirs Launch Campaign to Block Oil and Gas DevelopmentAfter putting in $30 million of their own into the fund, the Rockefeller descendants want to raise $100 million to cut off the supply of fossil fuels by supporting legal challenges and protest activities.