philanthropy

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Slumdog Makers Give $740K to Educate Poor

Fun intended to hush critics who call film 'poverty porn'

(Newser) - To combat accusations that Oscar sensation Slumdog Millionaire is a form of “poverty porn,” the filmmakers have donated about $740,000 toward a health education initiative in Mumbai’s slums, the Times of London reports. The funds are in addition to trusts set up for the movie’s...

Philanthropists Cry Foul Over Obama Budget
Philanthropists Cry Foul Over Obama Budget
OPINION
Mar 10, 2009 9:19 AM CDT

Philanthropists Cry Foul Over Obama Budget

Higher taxes, cap on deductions may lead to $4B less in charity

(Newser) - Charity may be a virtue, but in America there's another motivation for philanthropy: generous tax deductions of as much as 35%. Barack Obama's proposed 2010 budget may change all that; not only will it raise taxes on the most wealthy to almost 40%, it will cap charitable deductions at a...

Madoff Bust Stokes Anti-Semitism in Palm Beach

(Newser) - Bernard Madoff’s alleged mega-fraud and the large number of Jewish investors he apparently snookered is stoking anti-Semitic feeling in tony Palm Beach, ABC News reports. “It is a terrible thing to say, but some of the WASPs are delighted, they take great pleasure in this,” said an...

Madoff Scam Zaps Key Science Funds
Madoff Scam Zaps Key Science Funds
Feb 12, 2009 2:23 AM CST

Madoff Scam Zaps Key Science Funds

Medical research set back years as bilked charities slash aid

(Newser) - Bernard Madoff's alleged Ponzi scheme is sending shockwaves deep into the worlds of medicine and science as scammed charitable foundations yank funding for key research projects, reports the Wall Street Journal. Experts believe the number of people affected by the scam's impact on health care could run into the millions....

Nonprofits Look to Change Rules on Endowments

Meltdown forces tough choice: present survival or future value?

(Newser) - Nonprofits reeling from the market meltdown's impact on their investments are pushing to be allowed to tap endowment funds, many of which are off-limits because they've lost value, reports the Wall Street Journal. At issue is the balance between surviving the current crisis and spending funds that can never be...

AIDS Vaccine Quest Gets $100M Injection

(Newser) - A technology entrepreneur has given Massachusetts General Hospital its largest gift ever—$100 million—to create an interdisciplinary institute focused on finding an AIDS vaccine, the Boston Globe reports. The institute will bring together doctors and scientists from MGH, Harvard, and MIT, including engineers and mathematicians, who would otherwise not...

Downturn Threatens 100K Charities

(Newser) - The economic crisis isn’t just hurting Wall Street executives—it also spells dark times for the charities they once supported, the Wall Street Journal reports. The number of US nonprofits climbed from about 750,000 a decade ago to more than a million today, but watchers say 100,000...

Why Are Charities Feeding Bill's Ego?
 Why Are Charities 
 Feeding Bill's Ego? 
OPINION
Dec 24, 2008 8:32 AM CST

Why Are Charities Feeding Bill's Ego?

(Newser) - Forget for a second the Arab oil money that buoys the Clinton Foundation, Marty Peretz writes in the Wall Street Journal—“since when is the Clinton Foundation one of the approved charities of the United Way?” Nonprofits and foundations, from hospitals to universities to opera companies, are lining the...

Madoff Scam Soaks Jewish Charities
Madoff Scam Soaks Jewish Charities
Dec 13, 2008 12:08 PM CST

Madoff Scam Soaks Jewish Charities

His Wall Street fraud will wipe out philanthropic groups

(Newser) - Rich investors and hedge funds aren’t the only ones losing their shirts in Bernie Madoff’s Ponzi scheme. Madoff was a giant in the small world of Jewish philanthropy, running millions for a variety of charitable organizations, the Washington Post reports. Deborah Coltin, for example, woke up yesterday to...

LA Homeless Get Portable Shelter

(Newser) - A select group of homeless people in Los Angeles now have some relatively decent digs, the Los Angeles Times reports. The EDAR, which stands for for Everyone Deserves a Roof, is a portable shelter that can be used to transport belongings by day. At night it unfolds into a rainproof...

A-Rod: 'We're Friends—That's It'

Slugger would rather discuss charity work

(Newser) - Alex Rodriguez says he isn't dating Madonna and insists, apparently with a straight face, “We’re friends—that’s it,” People reports. The Yankee third baseman digs the pop icon's philanthropy and, when pressed, said he has attended only two of Madonna’s concerts and “I have...

High-Profile Arts Patron Guilty of 12 Fraud Counts

Alberto Vilar cheated investors to pay debts, fund opera companies

(Newser) - Alberto Vilar, the investment banker and one of the world's most generous opera patrons, was convicted yesterday on 12 counts of fraud, Bloomberg reports. Vilar told investors that he was putting their money in safe, government-backed assets; in fact, he bought risky tech stocks on margin, which quickly tanked. Vilar...

Univ. of Chicago Biz School Banks $300M

Low-profile fund manager Booth makes historic donation

(Newser) - An alumnus of the University of Chicago who made a fortune from principles he learned at its graduate business school has donated a no-strings-attached $300 million to the school, reports the Chicago Tribune. The donation, by Dimensional Fund Advisors founder David G. Booth, is the largest ever to a business...

Portman Wants to Talk About Microloans, Not Movies

Teams with Jordan's queen to help women

(Newser) - Among Hollywood actresses, Natalie Portman may be an anomaly. “As opposed to talking about fashion,” the 27-year-old says she prefers discussing poverty alleviation. The Israeli-American discovered FINCA International, a microfinance program for women, through her inspiration, Jordan’s Queen Rania, a Palestinian and an “incredible woman whom...

Newman a Man for All Seasons
 Newman a Man for All Seasons 
APPRECIATION
Sep 27, 2008 1:55 PM CDT

Newman a Man for All Seasons

Whether racing cars, making pasta sauce, or helping sick children, acting was just one of Paul Newman's talents

(Newser) - Paul Newman was one of our most legendary actors, but his life and legacy went far beyond the movies, the New York Times writes. From his rare long-lived Hollywood marriage to Joanne Woodward (they lived in Connecticut) to his tireless philanthropy on behalf of sickly kids, Newman did more than...

Google Offers $10M for Ideas to Change World

Project 10^100 seeks big ideas

(Newser) - Google, named for an astronomically large number, is celebrating its 10th anniversary with a call for ideas that could improve the lives of astronomically large numbers of people. Project 10100—pronounced '10 to the 100th'—seeks submissions from the public for world-changing ideas that the company will donate $10 million...

Wall St. Disarray Leaves Mess for Nonprofits

Charitable giving suffers as firms fold, merge, cut back

(Newser) - The victims of the Wall Street tsunami aren't all investment bankers and McMansion brokers. Kids with diabetes, residents of low-income housing, and fans of classical music are among those who could take a hit as nonprofits that depend on philanthropy from financial services firms absorb the fallout, the Boston Globe...

At $50M, Oprah Stars on Celeb Giving List

Barbra Streisand ($11M), Paul Newman ($10M) among other 8-figure standouts

(Newser) - Parade's annual list of the 30 most generous celebrities is out, and among the best philanthropists are:
  • Oprah Winfrey: $50.2 million for education, women and children's advocacy.
  • Herb Alpert: $13 million for music education.
  • Barbra Streisand: $11 million for the environment, women's issues, AIDS research.
  • Paul Newman: $10 million
...

Broad Donates $400M for Gene Research

Record gift helps Harvard/MIT venture get to root of disease

(Newser) - Eli and Edythe Broad plan to donate $400 million more to the Massachusetts foundation they started 4 years ago to research the genetic causes of disease, the Boston Globe reports. “It's the biggest investment we've ever made,” said Broad, whose gift to the joint Harvard/MIT venture is the...

Muslim Charities Seek US Seal of Approval

Better Business Bureau will vet groups to encourage donors

(Newser) - Muslim charities will voluntarily open up their books to the Better Business Bureau in the hopes of gettiing donors to reach for their wallets again, the Wall Street Journal reports. A coalition of groups requested the BBB's seal of approval to counter the stigma felt since the Sept. 11 attacks....

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