Madoff victims' payout nearing $7.2 billion: trustee | Reuters

Madoff victims' payout nearing $7.2 billion: trustee | Reuters: "Victims of Bernard Madoff's massive Ponzi scheme will get afresh $322 million payout if a U.S. judge approves the request by the trustee liquidating the convicted fraudster's firm, bringing the recovery total to more than $7 billion."



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The Nonprofit Quarterly | @npquarterly | Madoff Fraud Helps Bring Down Curtain on Florida Theater

The Nonprofit Quarterly | @npquarterly | Madoff Fraud Helps Bring Down Curtain on Florida Theater: "une 6, 2011; Source: New York Times | Maybe we'll never know the full toll on the nonprofit community of Bernard Madoff's ponzi scheme. But the damage is still being felt. The New York Times reports that earlier this week Florida Stage, 'a well-regarded Palm Beach theater devoted to putting on new plays,' filed for Chapter 7 bankruptcy"

onPhilanthropy: Articles: Madoff, Clawbacks and Charities

onPhilanthropy: Articles: Madoff, Clawbacks and Charities: "For those in the philanthropic world, seeing stories in the press about the bankruptcy trustee in the Madoff mess, Irving Picard, and his attempts to recover assets has to make us wonder what will be with charities potentially involved in clawback suits"

Aaron Dorfman: Madoff Scandal Proves That Foundations Need Stronger Leadership

Aaron Dorfman: Madoff Scandal Proves That Foundations Need Stronger Leadership: "There were more than 100 charitable foundations that lost a combined total of more than $2 billion to Bernie Madoff and his Ponzi scheme. These are funds that were intended to serve the public good and cannot be replaced."

Study Ties Charity’s Board Size to Losses in Madoff Scandal - NYTimes.com

Study Ties Charity’s Board Size to Losses in Madoff Scandal - NYTimes.com: "A majority of more than 100 foundations that lost 30 percent to all of their assets in the Madoff scandal had four or fewer board members, according an analysis by the National Committee for Responsive Philanthropy, a charity watchdog organization."

Madoff Losses Imperil Prestigious Program for Israeli Musicians - Philanthropy.com

Madoff Losses Imperil Prestigious Program for Israeli Musicians - Philanthropy.com: "Madoff Losses Imperil Prestigious Program for Israeli Musicians

An internationally influential scholarship program for young Israeli musicians is in danger of shutting down as a result of the Bernard Madoff fraud, The New York Times reports."

Down economy quiets Symphony by the Sea - NewburyportNews.com, Newburyport, MA

Down economy quiets Symphony by the Sea - NewburyportNews.com, Newburyport, MA: "The flow of private donations was hit hard in the Ponzi scheme scandal operated by disgraced hedge fund manager Bernard Madoff, McDermott said, as several symphony donors lost money.

'It was the erupting volcano that was too much to take,' she said."

Israeli Nonprofits, Shaken by Madoff Scandal, Regroup - NYTimes.com

Israeli Nonprofits, Shaken by Madoff Scandal, Regroup - NYTimes.com: "JERUSALEM — The collapse of Bernard L. Madoff’s $65 billion Ponzi scheme, whose victims included many American Jewish organizations and philanthropists, has also hammered a number of Israeli social service groups and wiped out at least three foundations that supported Israeli causes."

Madoff Jailed After Guilty Plea - washingtonpost.com

Madoff Jailed After Guilty Plea - washingtonpost.com: "An 'ashamed' Bernard L. Madoff pleaded guilty Thursday morning to bilking investors out of billions of dollars in savings in the biggest fraud in Wall Street history, and a judge ordered him jailed immediately to await a June 16 sentencing date."

Madoff: What's the Right Penalty? - BusinessWeek

Madoff: What's the Right Penalty? - BusinessWeek: "t's the question of the moment for many: Is there any punishment severe enough to fit Bernard Madoff's crime? With the perpetrator of what may be the largest financial fraud in history due to plead guilty on Mar. 12 to 11 felonies in U.S. District Court in Manhattan, the issue of an appropriate penalty is about to move center stage. It's hardly surprising, given the magnitude of losses and number of lives shattered, that Madoff's victims have dreamed up all manner of punishments they would like visited upon him."

Madoff may be near a plea deal with prosecutors | Business | Chron.com - Houston Chronicle

Madoff may be near a plea deal with prosecutors | Business | Chron.com - Houston Chronicle: "NEW YORK — Disgraced New York financier Bernard Madoff may be nearing a deal to plead guilty to one of the most egregious financial crimes in history."

For Friends of Madoff, the Pain Was Personal - DealBook Blog - NYTimes.com

For Friends of Madoff, the Pain Was Personal - DealBook Blog - NYTimes.com: "In a long article in Vanity Fair, Mark Seal examines Mr. Madoff’s world and tells the stories of some of these burned investors, including the late real estate mogul Norman Levy, who was said to consider Mr. Madoff as a kind of surrogate son, and the philanthropist Carl Shapiro."

The NonProfit Times -After Madoff: Charities Still Picking Up The Pieces

From Nonprofit Times

The NonProfit Times - The Leading Business Publication For Nonprofit Management: "March 4, 2009

After Madoff: Charities Still Picking Up The Pieces

As the initial shock and awe subsides, the huge dollar figures swirling around Bernard Madoff’s alleged Ponzi scheme have become clearer, and while they might be a bit smaller than originally feared, they’re still big."

Burned by Madoff, Lappin fund rebuilds - Articles of Faith - Boston.com

Burned by Madoff, Lappin fund rebuilds - Articles of Faith - Boston.com: "Deborah Coltin, the part-time executive director of the Robert I. Lappin Charitable Foundation in Salem, writes a short blog post for eJewishPhilanthropy about the small Jewish community foundation's efforts to rebuild after being wiped out by Madoff. An excerpt:"

JFN will give out up to $5 million in loans for nonprofits hurt by Madoff | The Fundermentalist | JTA - Jewish & Israel News

JFN will give out up to $5 million in loans for nonprofits hurt by Madoff | The Fundermentalist | JTA - Jewish & Israel News: "The Jewish Funders Network has allocated $5 million to give out loans of between $100,000 and $300,000 to non-profits hurt by Bernard Madoff’s scandal.

Here is the info:
The Jewish Funders Network announced today the launch of a Crisis Loan Fund to assist nonprofits harmed by the Madoff Ponzi scheme. With an initial pool of $5 million, The Crisis Loan Fund will provide bridge financing and interest subsidies to eligible 501(c)(3) nonprofits facing budget shortfalls as a result of the scheme. The fund was created through a collaboration of JFN members. JFN has also launched a Pro Bono Resource Bank that offers consulting services to nonprofits who are struggling in this down economy."

NATIONAL BRIEFING - washingtonpost.com

NATIONAL BRIEFING - washingtonpost.com: "The Securities and Exchange Commission announced an agreement with disgraced money manager Bernard L. Madoff that could eventually force him to pay a civil fine and return money raised from investors."

reportonbusiness.com: globeinvestor.com - Charities the overlooked victims in Madoff swindle

reportonbusiness.com: globeinvestor.com - Charities the overlooked victims in Madoff swindle: "Charities the overlooked victims in Madoff swindle
Philanthropic community reeling from firm's collapse as hundreds forced to curtail grants

SINCLAIR STEWART AND PAUL WALDIE

Monday, February 09, 2009

NEW YORK AND TORONTO — On a recent January afternoon, Phillip Shaw was walking the streets of St. Louis, confronting the biting cold and the long odds of landing a job in this wretched economy. His resumé was threadbare, his past troubled, and yet Mr. Shaw couldn't help but feel fortunate - particularly"

Madoff customers also donors to numerous Aspen nonprofits | Aspen Daily News Online

Madoff customers also donors to numerous Aspen nonprofits | Aspen Daily News Online: "A number of donors and supporters of Aspen nonprofit organizations are on a list of apparent investors and customers of Bernard L. Madoff Investment Securities LLC, which has been charged by federal officials in a multi-billion dollar Ponzi scheme."

NorthJersey.com: Lautenberg's charity lost most of $15M in assets

NorthJersey.com: Lautenberg's charity lost most of $15M in assets: "The charitable foundation established by Sen. Frank Lautenberg lost nearly all its $15 million in assets by investing them with Bernard Madoff.

'Over 90 percent of the foundation's assets were invested with Madoff,' said Michael Griffinger, a Newark lawyer representing the senator and the Lautenberg Foundation."

List of Madoff clients runs in thousands - Feb. 5, 2009

List of Madoff clients runs in thousands - Feb. 5, 2009: "The densely typed list includes multinational banks, unions, charitable foundations, Madoff's attorney, Madoff's relatives and, possibly, celebrities."