Philanthropy News Report

Thiel College receives largest gift in its history

2011-11-08T08:50:00.004-06:00

Officials at Thiel College on Thursday announced the Greenville school has received a $25 million gift from the late William S. Dietrich II, whose parents are graduates of the school.

The gift, the largest in the college's 145-year history, is the latest in a list of record-breaking gifts to colleges and cultural organizations that Dietrich, a Mt. Lebanon businessman, directed prior to his death at 73 on Oct. 6.

"A gift of this magnitude has the potential to fundamentally change Thiel College," said Thiel President Troy VanAken. The college, 80 miles north of Pittsburgh, has 1,100 students, an annual budget of $25.3 million and an endowment of $20.9 million.

Full article text is available via the Pittsburgh Tribune-Review, 11/4/11.

Philanthropist Pierre Lassonde donates $25 million to York University

2011-11-07T11:30:00.001-06:00

Yesterday was a very good day for future generations of Canadian engineers.

During a special event held at York University's Keele campus, President & Vice-Chancellor Mamdouh Shoukri announced a $25-million dollar transformative donation from Pierre Lassonde, chairman of the Franco-Nevada Corporation, for an expanded School of Engineering.

The announcement was made during a ceremony in which the Computer Science & Engineering Building, where it was held, was renamed the Lassonde Building in honour of the School of Engineering's new benefactor.

Full article text is available via the Y File, 11/2/11.

$150-Million Gift Will Help Stanford Train Entrepreneurs in Poor Countries

2011-11-07T08:30:00.001-06:00

Stanford University’s business school has received a $150-million gift to establish an institute that will help entrepreneurs in developing countries build their businesses.

The money came from Robert King, a partner at the investment firm Peninsula Capital, in Menlo Park, Calif., and his wife, Dorothy, who hope the donation will help curb poverty in the world’s hardest-hit regions.

The gift will start the Institute for Innovation in Developing Economies, which will conduct research on entrepreneurship and then teach people how to apply the findings. As part of the agreement, the university must raise $50-million more from other sources.

Full article text is available via The Chronicle of Philanthropy, 11/4/11.

Donations to Occupy Wall Street Surpass $450K Mark

2011-11-04T14:40:00.001-05:00

The Occupy Wall Street movement didn’t set up to become a big fund-raising operation, but it has already spontaneously attracted $454,000 in cash from some 8,000 online donors and other supporters to finance the protest in Zuccotti Park.

Many other contributors are providing food, clothes, blankets, and other items. So much has been flowing in that organizers have started to send money, goods, and financial advice to “Occupy” protesters in other cities.

Robert Christ, an information-technology developer who helps manage Occupy Wall Street’s finances, announced the financial tally and the plans for handling the money. He said the group was releasing its financial details as “part of our hope that we can be transparent and accessible.” He pledged that “our statements will be released regularly, and we want to hold open meetings.”

Full article text is available via The Chronicle of Philanthropy, 10/31/2011.

Eli Broad Weighs In on World's Most Powerful Philanthropists

2011-11-04T07:35:00.000-05:00

Billionaire arts and education patron Eli Broad offers his list of the world’s seven most powerful philanthropists to Forbes, ranking media magnate and New York Mayor Michael R. Bloomberg at No. 1.

Mr. Broad credits Mr. Bloomberg for using both his fortune and his political bully pulpit to support a variety of causes, including public health, the arts, and gun control. Michael and Susan Dell and Bill and Melinda Gates ranked second and third, respectively.

The full list is available via Forbes, 11/2/2011.

China's Philanthropic Giving to U.S. Universities Comes with Strings Attached

2011-11-03T13:07:00.000-05:00

When a Beijing organization with close ties to China’s government offered Stanford University $4 million to host a Confucius Institute on Chinese language and culture and endow a professorship, it attached one caveat: The professor couldn’t discuss delicate issues like Tibet.

“By peddling a product we want, namely Chinese language study, the Confucius Institutes bring the Chinese government into the American academy in powerful ways,” said Jonathan Lipman, a professor of Chinese history at Mount Holyoke College in South Hadley, Massachusetts. He also sits on the China and Inner Asia Council of the Association for Asian Studies.

“The general pattern is very clear,” Lipman said. “They can say, ‘We’ll give you this money, you’ll have a Chinese program, and nobody will talk about Tibet.’ In this economy, turning them down has real costs.”

Full article text is available via Bloomberg, 11/1/2011.

Study Finds that Celebrities Are Not the Most Effective Social Media Fundraisers

2011-11-03T08:02:00.004-05:00

Ashton Kutcher, Kanye West, and other big-name celebrities don’t do as much good for charity on Twitter, Facebook, or other social networks as less-famous people, a new study finds. Actors, comics, singers and bloggers with deep personal ties to causes and potential donors raise far more money for charities.

The report, released this week by the consulting firm Zoetica Media and PayPal, the online donations portal, studied six major online fund-raising campaigns. The key to finding the best advocate, the report says, lies not with Twitter-follower counts or star power but in finding the spokesman who will spend time online interacting with his or her followers and other potential donors.

Full article text is available via The Chronicle of Philanthropy, 11/2/2011.

York University Receives $25M Gift for Engineering School

2011-11-02T09:43:00.002-05:00

When mining entrepreneur Pierre Lassonde announced a $25-million gift to York University on Tuesday, he hoped it would do more than build a new engineering school – he wants to help groom a generation of “renaissance engineers.”

It’s a term he credits to his late wife, who saw the engineer of the future not just as a problem solver or functionary builder, but a sort of modern Michelangelo – expert and agile in more than one discipline, but also eager to consider and communicate how engineering relates to matters of sustainability, health, safety and civil society.

Mr. Lassonde, 64, never studied at York but was swayed by Seymour Schulich, his long-time business partner and Franco Nevada co-founder, whose generosity has helped push York’s business school to prominence, and who recently promised a $100-million scholarship endowment for 20 universities in Canada and Israel.

Full article text is available via CTV News, 11/1/2011.

Seattle Children's Hospital Announces Two Multi-Million Dollar Gifts

2011-11-02T08:38:00.005-05:00

Seattle Children’s announced two transformative philanthropic gifts totaling $65 million to benefit pediatric research, nursing education and clinical care. An anonymous donor pledged approximately $50 million of their estate – the largest single gift in Children’s 104 year history – to benefit pediatric research at Seattle Children’s Research Institute. In addition, Mrs. Jean Reid of Bellevue, Wash., made gift commitments valuing approximately $15 million to support Children’s Bellevue Urgent Care Clinic, the advanced training of nurses, and the greatest needs of Children’s Bellevue Clinic and Surgery Center. In recognition of Mrs. Reid’s extraordinary commitment, the Children’s Bellevue Clinic and Surgery Center will be named the “Robert and Jean Reid Bellevue Clinic and Surgery Center” in honor of her and her late husband.

These major gifts were first unveiled over the weekend at a Children’s “Celebration of Hope” gathering which took place at the Fairmont Hotel. The event, which was attended by 300 friends of Children’s, also marked the 30th anniversary of hospital’s fundraising division – the Foundation.

Full article text is available via Seattle Children's Hospital, 10/31/2011.

Gaming Pioneer Donates $18M to Andre Agassi College Preparatory Academy

2011-11-01T13:36:00.001-05:00

Last October, an emotional Andre Agassi publicly thanked gaming pioneer Kirk Kerkorian for putting food on his family's table decades ago.

Saturday night, the tennis superstar again paid tribute to Kerkorian at the Grand Slam for Children benefit, this time for contributing to Agassi's second family of sorts.

Kerkorian gave $18 million to support the Andre Agassi College Preparatory Academy for at-risk students, a record donation Agassi said will "outlive all of us" as the funds guarantee the Las Vegas charter school's future in perpetuity.

Full article text is available via the Las Vegas Review-Journal, 10/29/2011.

New Report from Indiana University Evaluates the State of Philanthropy

2011-11-01T08:31:00.004-05:00

A new report by Indiana University faculty members evaluates the state of philanthropy and sets forth recommendations for increasing giving with measures that include improving relationships with donors, strengthening public awareness and reaching new audiences.

The report, Growing Philanthropy in the United States, was released last week. It addresses the fact that philanthropic giving in the United States has remained static for decades, despite the best efforts of fundraising professionals and nonprofit organizations.

Full article text and a link to the report can be found via Indiana University, 10/28/2011.

Some WA Nonprofit Hospitals to See Multi-Million Dollar Tax Refunds

2011-10-31T13:42:00.001-05:00

Tens of millions in tax dollars will be refunded to some Washington nonprofit hospitals as a result of changes in state property tax rules that now allow outpatient clinics and other facilities connected to hospitals to be exempt from property taxes.

In the past, property tax exemptions only applied to medical facilities that offered 24-hour inpatient care. The hospitals paid property taxes on most clinics and other buildings. But Washington hospitals have long sought to expand those exemptions

But the state Department of Revenue is now acknowledging that hospitals have evolved as have their services. That has made it more difficult to define exactly what portions of a hospital complex should be designated for exemptions said Harold Smith, program manager for exemptions and deferrals with the state Department of Revenue.

Full article text is available via The Seattle Times, 10/31/2011.

MIT Receives $21M Grant for the Legatum Center

2011-10-31T08:39:00.002-05:00

The MasterCard Foundation and the Legatum Center for Development and Entrepreneurship at the Massachusetts Institute of Technology (MIT) are pleased to announce a strategic 10-year, $21 million grant to support emerging entrepreneurs focused on Africa and developing regions.

The partnership will provide 200 fellowships at the Legatum Center for students from developing countries, with an emphasis on students from Africa. The Legatum Center will publish case studies of entrepreneurship-led development and business models that meet the needs of the poor. The Center will also host a global competition to catalyze and recognize transformative innovations that invigorate economic growth and create employment opportunities, particularly in Sub-Saharan Africa.

Full article text is available via The MasterCard Foundation, 10/27/2011.

Record $20-Million Gift to Support N.Y.’s High Line Park

2011-10-28T11:05:00.000-05:00

Many visitors to the High Line, the popular park that wends above street level on the West Side of Manhattan, stop at its northern terminus and peer wistfully through a chain-link fence at the as-yet unreclaimed half-mile segment to the north. Until this week, the nonprofit conservancy that operates the High Line still needed to raise $85 million to finish the park and maintain it.

On Wednesday night, the conservancy took a major step toward that goal when Mayor Michael R. Bloomberg announced a $20 million gift to the High Line from the Diller-von Furstenberg Family Foundation.

The gift, which will help build up the park’s endowment and pay for the design of the last section, is the single largest donation ever made to a New York City park, according to city officials.

Full article text is available via The New York Times, 10/26/11.

Some Companies Increase Giving as Downturn Recedes

2011-10-28T07:59:00.002-05:00

Half of big companies gave more to charity in cash and products last year than they did in 2007, just before the recession took hold, according to a report released today by the Committee Encouraging Corporate Philanthropy.

However, not all companies are increasing their giving: One-fifth of companies last year gave a fourth of what they did before the recession started.

The study, “Giving in Numbers,” examined 184 companies. The Committee Encouraging Corporate Philanthropy represents company chief executives and grant makers.

Full article text is available via The Chronicle of Philanthropy, 10/27/11.

Obama Tax Plan Would Have ‘Modest’ Impact on Giving, New Study Finds

2011-10-27T11:26:00.001-05:00

President Obama’s proposal to limit the value of charitable deductions for the wealthy would cost charities less than $1-billion, according to a new study that gives the lowest estimate yet of how the president’s plan would affect donations.

The study, by the Center on Philanthropy at Indiana University, found that charities would face a much larger drop in donations if the proposed cap were combined with Mr. Obama’s proposal to end the Bush-era tax cuts for wealthy people. In that case, gifts by people who itemize their deductions would fall by more than $2-billion, a report on the study said.

Full article text is available via The Chronicle of Philanthropy, 10/26/11.

American Companies That Give Back the Most

2011-10-27T08:17:00.002-05:00

At a time when the Occupy Wall Street protests are shining a light on greed in America, some companies make a point of donating a significant chunk of their profits to charity.

Example: In 2010 Kroger, the Cincinnati supermarket operator, gave away 10.9% of its $589 million in 2009 pre-tax profits, amounting to $64 million. Kroger tops an annual list put together by The Chronicle of Philanthropy.

The magazine tracks corporate giving through a survey it sends to 300 of the nation’s largest companies by revenues. This year the Chronicle compiled data on 180 companies, culled from survey results and tax forms. In 2010, total cash donations by this group rose 13%, to $4.9 billion, a boon to nonprofits after the recession resulted in a 7.5% decline in giving in 2009.

Full article text is available via Forbes, 10/21/11.

Taub Foundation commits $30-Million to American Technion Society

2011-10-26T09:30:00.000-05:00

The American Technion Society (ATS) has announced that it has received a $30 million commitment from the estate of the late Henry Taub and The Henry and Marilyn Taub Foundation. $25 million of the commitment will be used for the "Leaders in Science and Technology" faculty recruitment program at the Technion-Israel Institute of Technology, and $5 million will go to the university's Faculty of Computer Science.

Full text is available via the American Technion Society, 10/11/11.

Dow Investing $250-Million to Boost Chemical Engineering at U.S. Schools

2011-10-26T08:30:00.002-05:00

Dow Chemical Co. will spend $250-million over the next 10 years to expand chemical-engineering programs at 11 universities, says The Wall Street Journal.

The donation will support faculty positions and research projects with an eye toward attracting top engineering students and boosting doctoral awards in the chemical field, which has lost ground in recent years to biomedical and other engineering disciplines.

“We think the shift has gone too far,” said Theresa Kotanchek, a Dow vice president. She said the firm has hired about 50 chemical-engineering PhD’s in the past three years and expects its needs to grow.

Full article text is available via The Chronicle of Philanthropy, 10/25/11.

Hong Kong Court Ends Nina Wang Case, Awards $12-Billion to Charity

2011-10-25T11:30:00.000-05:00

Deceased property tycoon Nina Wang’s estimated $12 billion fortune will go to her charity foundation after Hong Kong’s top court refused to hear a final bid for the estate from Tony Chan, her former feng shui adviser.

The Court of Final Appeal rejected arguments today from Chan’s lawyer John Katz that the case involves issues of great public importance and that new facts in the case might have affected the outcome of the trial had they been available. Justice Patrick Chan said the three judges would hand down their reasons at a later date.

The ruling brings to an end a five-year battle after Wang, once Asia’s richest woman, died from uterine cancer in 2007. Wang herself fought her father-in-law, the late Wang Din Shin, for six years before the Court of Final Appeal awarded her the fortune, valued last year at $12 billion by lawyers for the estate’s administrators, in 2005.

Full article text is available via Bloomberg, 10/24/11.

Museum of Himalayan Art Gets $25-Million Gift From Founders

2011-10-25T08:47:00.002-05:00

Robert M. Baylis, Chairman of the Executive Committee of the Board of Trustees of the Rubin Museum announced that the Museum has received a $25 million gift from Shelley and Donald Rubin, the Museum’s founders. The gift will be dedicated to helping fund operations, exhibitions and programs over the next five years as the Rubin continues its initiatives to diversify its leadership and broaden its funding base. In support of these goals, Mr. Baylis concurrently announced that Patrick Sears has been named Deputy Director of the Museum and Cynthia Guyer has been appointed to the newly created position of Head of External Affairs.

Full article text is available via Art Daily, 10/24/11.

Weatherhead Foundation pledges $50-Million to Case Western campaign

2011-10-24T11:30:00.003-05:00

President Barbara R. Snyder announced Thursday night $80 million in new commitments as part of the launch of “Forward Thinking: The Campaign for Case Western Reserve University.” The president shared news of the $1 billion fundraising initiative with more than 3,000 students, faculty, staff, alumni and friends as part of a campuswide celebration.

“Case Western Reserve is an outstanding national research university poised to become even more extraordinary,” Snyder said. “Our alumni and friends recognize this institution’s remarkable potential and have invested generously in the programs, projects and people required for us to realize it.”

During the evening, Snyder announced a $50 million pledge from The Weatherhead Foundation, the organization that industrialist Albert J. Weatherhead III led until his death last month. The commitment represents the single largest in university history.

Full article text is available via The CWRU Daily, 10/14/11.

Canadian Businessman Pledges $14.7-Million to Nova Scotia School

2011-10-24T08:30:00.001-05:00

A top Atlantic Canada business leader, warning his region must be internationally competitive, has donated $15-million to Dalhousie University’s school of business.

The gift, the largest donation by a Nova Scotian to the university, comes from Ken Rowe, executive chairman of IMP International Group Inc.

“The whole idea is to raise the bar in making our region more competitive, by having more higher-trained business leaders in the future,” he said in an interview before Thursday’s announcement in Halifax.

Full article text is available via CTV News, 10/20/11.

Professor Commits $10M to UC Irvine

2011-10-21T11:05:00.001-05:00

Francisco J. Ayala joined the faculty at UC Irvine in 1989 and his reputation as one of the world's top molecular biologists has grown — as have the earnings from his vineyards, which total more than 2,000 acres in northern San Joaquin and Sacramento counties.

The bounty of those fields will now help sustain learning on the Irvine campus, with the announcement Tuesday that Ayala is giving $10 million — $1 million a year for the next decade — to the School of Biological Sciences. The gift is the largest ever by a UCI faculty member.

Full article text is available via The Los Angeles Times, 10/18/2011.

Doris Duke Charitable Foundation Pledges $50M to Support Artists

2011-10-21T07:59:00.003-05:00

Ed Henry, President of the Doris Duke Charitable Foundation (DDCF), announced that a new special initiative of the Foundation will offer virtually unprecedented freedom to 200 individual artists in the fields of jazz, theatre and contemporary dance. Individuals selected by the Doris Duke Performing Artists Initiative will receive flexible, multi-year cash awards of as much as $275,000, with funds given not to realize specific projects but as investments in their development and future work. The Initiative will not be open to applications; artists will be chosen through an anonymous peer-review process.

Unique in the performing arts, the Doris Duke Performing Artists Initiative will provide the largest allocation of cash grants ever given to individual artists in these fields, while also providing additional support to artists through residencies. Established to enable artists to take creative risks, freely explore new ideas and independently tend to critical needs such as health care and
retirement savings, the Initiative represents an additional ten-year, $50 million contribution by DDCF over and above its substantial existing commitment to the performing arts.

Full article text is available via The Doris Duke Charitable Foundation, 10/20/2011.