AFP Blog: Recent News of Note

This blog contains assorted news and commentary on the fundraising profession and philanthropy gathered by the AFP Fundraising Resource Center. Other Sites of Interest Section Disclaimer: AFP provides the following listing of hyperlinks to other Internet pages as a privilege to the user. AFP does not necessarily endorse, support or attest to the accuracy of information posted on those Internet pages. Some links may require registration to view and/or may only be available for a limited time.

Saturday, July 01, 2006

Why Buffett needed Gates for giveaways - Yahoo! News

Why Buffett needed Gates for giveaways - Yahoo! News: "They're a fascinating study in contrasts.
Bill Gates and
Warren Buffett received well-deserved ink and air time this week. Their plan to use their multibillions together to try to rid the world of many fatal diseases is heartwarming.
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One of them got rich fairly quickly and easily. The other more slowly, the hard way. Comparisons:

• Gates, now 50, broke the bank as a relative kid. He founded Microsoft at age 19 and rode the high-tech boom to riches.

• Buffett, 75, formed Berkshire-Hathaway nearly 50 years ago. His fortune came steadily, but not so fast. His old-fashioned investments range from Coca-Cola and Dairy Queen to big insurance companies."

The Joplin Globe - Online Edition-Kimmel Center Marks 1st Operating Surplus

The Joplin Globe - Online Edition: "Kimmel Center Marks 1st Operating Surplus

By JOANN LOVIGLIO
Associated Press Writer

PHILADELPHIA (AP) -- The Kimmel Center for the Performing Arts announced Friday that it has ended the fiscal year with an operating surplus, a first for the facility since its opening five years ago.

The center, home of The Philadelphia Orchestra, said that it ended the 2006 fiscal year Friday with an operating surplus of $1.2 million. It had ended the 2005 fiscal year with an operating deficit of $2.4 million."

RedOrbit - Technology - EDITORIAL: A Model of Giving: Billionaire Warren Buffett's Inspiring Example of Philanthropy

RedOrbit - Technology - EDITORIAL: A Model of Giving: Billionaire Warren Buffett's Inspiring Example of Philanthropy: "EDITORIAL: A Model of Giving: Billionaire Warren Buffett's Inspiring Example of Philanthropy

By The Akron Beacon Journal, Ohio

Jun. 30--Warren Buffett's $31 billion donation this week to the Bill and Melinda Gates Foundation is the gift to dwarf all gifts. Announcing that he was handing over the bulk of his estimated $44 billion wealth to the philantropic foundation, Buffett applied a guiding principle of his business life. Fifty years ago, he said, seven people gave him $105,000 to manage because they believed he could do a better job of amassing wealth for them than they could for themselves. 'And 50 years after that, I sat down and thought about who could do a better job dispersing wealth than myself.' The Gateses and their foundation fit the bill for the billionaire founder of Berkshire Hathaway, the insurance and investment company. The choice couldn't be more inspiring."

Tuesday, June 27, 2006

Red Cross criticizes itself over Katrina - Yahoo! News

Red Cross criticizes itself over Katrina - Yahoo! News: "NEW YORK - Overwhelmed volunteers, inflexible attitudes and inadequate anti-fraud measures are among the many shortcomings acknowledged by the
American Red Cross in a candid and comprehensive new report assessing its response to Hurricane Katrina.

The in-house report stresses that the organization is intent on correcting the problems. Several steps have been taken for the start of the 2006 hurricane season; other reviews, addressing financial policies and how the Red Cross governs itself, are in progress."

A new era for supercharged philanthropy | csmonitor.com

A new era for supercharged philanthropy | csmonitor.com: "A new era for supercharged philanthropy
By Mark Trumbull | Staff writer of The Christian Science Monitor
In 2001, the Bill & Melinda Gates Foundation launched an ambitious program to remake high school education, and help more kids go to college, in their home state of Washington.

After pouring $134 million into the effort, the foundation has achieved results but also learned hard lessons. Twelve test-bed high schools have redesigned themselves into 'small learning communities.' About 2,500 low-income students are in college on foundation-provided scholarships."

Pitt Chronicle: June 26, 2006: Trustees Double Pitt Capital Campaign Goal to $2 Billion

Pitt Chronicle: June 26, 2006: Trustees Double Pitt Capital Campaign Goal to $2 Billion: "Trustees Double Pitt Capital Campaign Goal to $2 Billion
Board authorizes University to extend campaign as
it approaches its $1 billion goal with a year to spare
June 26, 2006 Issue
By John Harvith
D
With the University’s Discover a World of Possibilities fundraising campaign now at more than $960 million—fast approaching its $1 billion goal about a year before its June 30, 2007, scheduled conclusion—Pitt’s Board of Trustees passed a resolution at its annual meeting June 23 authorizing the University to extend the campaign, doubling its goal to $2 billion."

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We are now tagging a variety of our material. If you are particularly interested in a specific topic you can click on the tag and it will bring you to the relevant stories. The tag categories are fairly general and certainly subjective.For example

In land of philanthropy, $2bn is just start | Business | The Australian

In land of philanthropy, $2bn is just start | Business | The Australian: " *

The Australian — Business
In land of philanthropy, $2bn is just start
Warren Buffet's pledge to charity is a mark of US economic character, Gerard Baker writes
June 28, 2006
HIS many aficionados in the investing world have long admired Warren Buffett's lapidary writing style. The newsletters he sends to investors are in their own right literary gems, full of deadpan humour, folksy observations on current events and studied understatement.

It was this last device that was most noticeable in the letter he sent this week to the Bill and Melinda Gates Foundation. In it, he pledges an initial 'material' contribution of shares in his investment company worth about $US1.5 billion ($2 billion) and then adds that, over the next few y"

$9.3 Million to Strengthen 800 U.S. Nonprofits :: PNNOnline ::

$9.3 Million to Strengthen 800 U.S. Nonprofits :: PNNOnline ::: "$9.3 Million to Strengthen 800 U.S. Nonprofits
Posted by: laurakujawski on Tuesday, June 27, 2006
Topic General Fundraising

Fieldstone Alliance of St. Paul, Minnesota, and the New York-based Nonprofit Finance Fund (NFF) announced a new partnership, funded by a $9.3 million grant from the W.K. Kellogg Foundation, to improve the performance, effectiveness, and financial sustainability of more than 800 U.S.-based grantee organizations supported by the Foundation.

Participating W.K. Kellogg Foundation grantees will have access to a broad array of resources, including expert consultation, training, benchmarking, management tools, access to capital, publications, subscriptions, and professional associations and conferences. The more than 800 current Kellogg grantees will be expected to improve their organizational capacity and financial structure. This will help the nonprofits better achieve their missions, increasing their community-level impact and improving their prospects for long-term survival.

"

Salt Lake Tribune - Huntsman Sr. says he won't follow Buffett's lead

Salt Lake Tribune - Huntsman Sr. says he won't follow Buffett's lead: "Huntsman Sr. says he won't follow Buffett's lead
Tribune Staff and Wire Services

Jon Huntsman Sr. will funnel his net worth into charity within the next three years, as Warren Buffett is doing now, but his money won't go to the Bill & Melinda Gates Foundation, the George S. and Dolores Doré Eccles Foundation or, for that matter, any foundation but his own.
On Monday, Huntsman applauded Buffett's generous gift of $31 billion to the Gates Foundation but said he was surprised Buffett did not choose to have the bulk of his wealth controlled by family foundations. "

Online NewsHour: Analysis | Buffett Pledges Charity Billions | June 26, 2006 | PBS

We provide a sampling of coverage of Buffets' donations here on this blog.

Online NewsHour: Analysis | Buffett Pledges Charity Billions | June 26, 2006 | PBS: "Warren Buffett Pledges around $30 Billion to Gates Foundation

Warren Buffett, the world's second richest person, has donated nearly 85 percent of his fortune to the Bill and Melinda Gates Foundation to help fight disease and poverty and improve education.
Warren Buffett

JIM LEHRER: Warren Buffett gives away most of his fortune. NewsHour correspondent Kwame Holman begins with a report on today's announcement.

KWAME HOLMAN: ... announcements, Warren Buffett himself broke the news in yesterday's edition of Fortune magazine. Buffett, who is 75, said he'd give away 85 percent of his total wealth, most of which will be donated gradually to the Bill and Melinda Gates Foundation."

Acronym: Field Report: Marketing & Membership Conference

Acronym: Field Report: Marketing & Membership Conference: "One of the speakers, Lori Gusdorf, CAE of the Association of Fundraising Professionals told us about AFP's new collegiate chapters that they're leveraging to increase student interest in a fundraising career, and ultimately, their membership. After the brief presentations, a few minutes were allotted for questions about it, and then it was on to the next topic. During this 90 minute session, we covered a diversity of topics that would have taken several hours to cover in a conventional conference format."

Let the charity competition commence - Analysis - Times Online

Let the charity competition commence - Analysis - Times Online: "dmirable as its motivation might be at the individual level, was really a sign of a corrupt society. The economy had to operate unjustly for there to be so many destitute people who had to depend on charity in the first place.

Were he alive today, Blake would stand with those who blame the state of much of Africa on the way the global economy works and shout for reform rather than aid. He might dismiss Tony Blair’s Commission for Africa as official hand-wringing. But he would surely still see goodness in the vast sums that Microsoft’s Bill Gates, who is reckoned the world’s richest private citizen, is giving away there."

AP Wire | 06/26/2006 | Ellison settles suit with $100M gift but leaves Harvard hanging

AP Wire | 06/26/2006 | Ellison settles suit with $100M gift but leaves Harvard hanging: "Ellison settles suit with $100M gift but leaves Harvard hanging
PAUL ELIAS
Associated Press

SAN FRANCISCO - Oracle Corp. co-founder Larry Ellison has settled an insider-trading lawsuit by making the first payment of a $100 million donation, said lawyers representing aggrieved shareholders who sued the billionaire two years ago.

The new funding for the Ellison Medical Foundation, which he launched, comes amid a suddenly energized philanthropic movement led by the world's two richest men, Bill Gates and Warren Buffett. On Sunday, Buffett announced he would leave most of his roughly $42 billion to the Bill and Melinda Gates Foundation, which came on the heels of Gates' own bombshell that he would give up day-to-day oversight of Microsoft Corp. in 2008 to concentrate on philanthropy full time.

Ellison's donation is the result of an unusual legal settlement of a civil complaint that revolves around a $900 million gain that he generated by selling so"

Philanthropy makes strides through gifts of all sizes | IndyStar.com

Philanthropy makes strides through gifts of all sizes | IndyStar.com: "Philanthropy makes strides through gifts of all sizes

Warren Buffett's gift of $37 billion to the Bill and Melinda Gates Foundation is an astounding four times greater than the Lilly Endowment's size.
Remember, the endowment is no small fry. It's the nation's fifth-largest charitable organization, with $8.4 billion in assets. It wasn't long ago the endowment soared to the nation's largest, thanks to the appreciation of Eli Lilly and Co. stock, which makes up the vast majority of its assets.
That won't happen again, though, and not because Lilly shares won't appreciate. Put Buffett's mega-donation with the Gates Foundation, and you have a charity with more than $50 billion in assets."

Belleville News-Democrat | 06/27/2006 | Bosses to share secrets

Belleville News-Democrat | 06/27/2006 | Bosses to share secrets: "Corporate leaders from across the St. Louis region will meet for a CEO Summit at 7:30 a.m. at the Anheuser-Busch Auditorium at the St. Louis University-Cook School of Business. A second session will be at 1 p.m. at the Holiday Inn at 1000 Eastport Plaza Drive in Collinsville. Each session is expected to last about 5 1/2 hours.

'This event was organized as a chance for the corporate and nonprofit organization leaders to get together,' said Jim Maher, resident director for Merrill Lynch in the metro-east and creator of the summit. 'It is designed to help people achieve better results in their business through better decision making.'"

Technology | Reuters.co.ca-Warren Buffett lunch gets $500,100 bid on eBay

Technology | Reuters.co.ca: "by Jonathan Stempel

NEW YORK (Reuters) - It will cost more than half a million dollars for a successful bidder to dine with Warren Buffett, with bidding for that privilege in an online charity auction on eBay Inc. now reaching a record $500,100.

Buffett, the 75-year-old chairman of Berkshire Hathaway Inc., will dine with up to eight people, as he has since 2000, to benefit the Glide Foundation, a San Francisco non-profit that helps the poor, hungry and homeless.

Mohnish Pabrai, an Irvine, California investor, placed the $500,100 high bid, topping a $500,000 bid from 'fastisslow.' He also topped a $460,200 bid earlier Monday by 'value4567.'

'Hopefully we'll prevail, but it's clear there are now three bidders, and the bidding could well get fast and furious,' said Pabrai, an unsuccessful bidder in past years, in an interview."

Gold standard philanthropy - The Boston Globe

Gold standard philanthropy - The Boston Globe: "Gold standard philanthropy

By Scot Lehigh, Globe Columnist | June 27, 2006

WARREN BUFFETT, the oracle of Omaha, is as revered in the investment world as the Oracle at Delphi was in the ancient world.

And now, unlike that ancient oracle, Buffett, 75, has delivered a decidedly unambiguous message: It's important to do something worthwhile with your wealth -- and to do it while you're still alive.

Not only is Buffett giving the bulk of his fortune away, in a shrewd and modest move he will transfer most of it to the Bill & Melinda Gates Foundation. That announcement nips at the heels of news that in 2008 Bill Gates will relinquish his full-time role at Microsoft Corp. to devote most of his time to philanthropy."

Monday, June 26, 2006

University of Dubuque News and Information-June 26, 2006-University of Dubuque Receives Top CASE 2006 Fundraising Award

University of Dubuque News and Information: "June 26, 2006
University of Dubuque Receives Top CASE 2006 Fundraising Award

President Jeffrey F. Bullock today announced that the University of Dubuque has been named a recipient of the 2006 CASE (Council for Advancement and Support of Education)-WealthEngine Award for Educational Fund Raising. The award program recognizes superior fund-raising programs in colleges and universities across the country. "

The Chronicle, 6/26/2006: Finalists Named in 'Purpose Prize' for Older Americans Tackling Social Ills

The Chronicle, 6/26/2006: Finalists Named in 'Purpose Prize' for Older Americans Tackling Social Ills: "inalists Named in 'Purpose Prize' for Older Americans Tackling Social Ills

A new prize program to honor people aged 60 and older who are working to solve social problems in an innovative way has named 15 finalists.

The finalists, who will each receive $10,000, include a former mayor who helps children of incarcerated parents, a retired businessman who created an organization to assist seriously ill children, and a woman who started an association to help caregivers of chronically ill people.

A panel of nonprofit, business, cultural, and political leaders will award $100,000 'Purpose Prizes' to five of the finalists, who are aged 60 to 81, in September"

'Venture philanthropy' creating a buzz - Forbes.com - MSNBC.com

'Venture philanthropy' creating a buzz - Forbes.com - MSNBC.com: "Venture philanthropy' is new buzz in business
Buffett, Gates not the only tycoons reshaping world of charitable giving

NEW YORK - It’s been a very charitable couple of weeks. First, Microsoft’s Bill Gates announced on June 15 that he was stepping down from daily operations to devote his time the Bill and Melinda Gates Foundation, which has about $30 billion in assets. Then this weekend, Berkshire Hathaway’s Warren Buffett announced that he’s donating most of his $44 billion fortune to the Bill and Melinda Gates Foundation and four Buffett family foundations."

Daytona Beach News-Journal Online-"Nonprofits take harder look at running background checks

Daytona Beach News-Journal Online: "Nonprofits take harder look at running background checks
By DEBORAH CIRCELLI
Staff Writer

DAYTONA BEACH -- Dave Dispennette was a bit surprised when he had to wait about four months to be approved as a volunteer Big Brother after undergoing a fingerprint, criminal background, driving record and reference check.

Charity head's new mission: Meet the president | Ocala.com | Star-Banner | Ocala, Fla.

Charity head's new mission: Meet the president | Ocala.com | Star-Banner | Ocala, Fla.: "Charity head's new mission: Meet the president
Operation Shoebox founder invited to visit at White House.

BY FRED HIERS
THE STAR-BANNER
"

Nonprofit Groups Funneled Money For Abramoff

Nonprofit Groups Funneled Money For Abramoff: "Nonprofit Groups Funneled Money For Abramoff
Funds Flowed to Lobbying Campaigns

By Susan Schmidt and James V. Grimaldi
Washington Post Staff Writers
Sunday, June 25, 2006; Page A01

Newly released documents in the Jack Abramoff investigation shed light on how the lobbyist secretly routed his clients' funds through tax-exempt organizations with the acquiescence of those in charge, including prominent conservative activist Grover Norquist.

The federal probe has brought a string of bribery-related charges and plea deals. The possible misuse of tax-exempt groups is also receiving investigators' attention, sources familiar with the matter said."

Southeastern Council of Foundations Names 2006 Hull Fellows

PRESS RELEASE

Southeastern Council of Foundations Names 2006 Hull Fellows: "Southeastern Council of Foundations Names 2006 Hull Fellows

Download this press release as an Adobe PDF document.

The Southeastern Council of Foundations (SECF) has named the prestigious class of 2006 Hull Fellows. The only program of its kind in the country, the Hull Fellows Program was established to nurture, inspire and strengthen the Southeast’s next generation of emerging leaders in philanthropy.

Atlanta, GA (PRWEB) June 26, 2006 -- The Southeastern Council of Foundations (SECF) has named the prestigious class of 2006 Hull Fellows. The only program of its kind in the country, the Hull Fellows Program was established by SECF in 2000 to nurture, inspire and strengthen the Southeast’s next generation of emerging leaders in philanthropy. The selective program benefits younger and newer foundation staff and trustees who have demonstrated strong leadership capabilities in their careers and their communities.
"

Philanthropy Rising in Arab Countries: Financial News - Yahoo! Finance

Philanthropy Rising in Arab Countries: Financial News - Yahoo! Finance: "Philanthropy Rising in Arab Countries
Monday June 26, 8:14 am ET
By Jim Krane, Associated Press Writer
Arab Countries Take Major Role in Humanitarian Aid -- and U.N. Notices

DUBAI, United Arab Emirates (AP) -- With so much easy money coming in these days, oil-rich Arab countries are trying to prove they are just as good at giving it away.

U.N. officials confirm what Arab spokesmen say -- that they are now among the world's most generous, bankrolling relief efforts for Asian earthquakes, African famines -- even American hurricanes."

Buffett to give his billions to charity / With Gates, he sparks new era of mega-money philanthropy

Buffett to give his billions to charity / With Gates, he sparks new era of mega-money philanthropy: "Buffett to give his billions to charity
With Gates, he sparks new era of mega-money philanthropy

Yuki Noguchi, Washington Post

Monday, June 26, 2006
Investment guru Warren Buffett, whose stake in the company he founded is worth $44 billion, disclosed plans Sunday to give nearly all of it away within months, mostly to the world's largest charitable organization, the Bill & Melinda Gates Foundation.

That stunning revelation in Fortune magazine comes on the heels of Microsoft Corp. co-founder Bill Gates' announcement earlier this month that he would move from running his company to running his foundation -- and marks a golden age for philanthropy akin to that of a century ago, when industrialists such as Andrew Carnegie, John D. Rockefeller and Andrew Mellon gave vast amounts of their wealth to the arts and society.

'We agreed with Andrew Carnegie"

Charity Village®NewsWeek: Cover Story-Through the media's eyes: What the media would like nonprofit organizations to know

Charity Village®NewsWeek: Cover Story: "Through the media's eyes: What the media would like nonprofit organizations to know
Louise Chatterton LuchukBy Louise Chatterton Luchuk
June 26, 2006

This week's cover story is the next installment in an ongoing series to help nonprofit organizations see the world from another perspective. The series also includes what funders, volunteers, consultants, and donors would like the nonprofit sector to know about their side of the relationship.

Extra! Extra! Read all about it! Media representatives from print, radio and television share the inside scoop with the nonprofit sector. Media outlets get inundated with faxes, e-mails, telephone calls and letters from many sources. If you are a nonprofit organization, how do you stand out among all this competition for limited space? Three media representatives explain media relations with the nonprofit sector from their side of the fence, and along the way share insider tips for getting noticed."