March Philanthropy News Roundup
- The Boston Globe and the Wall Street Journal have compiled lists of what programs could lose funding under the Trump Administration’s proposed budget.
- The recent study, 2016 Millennial Impact Report: Cause Engagement During a U.S. Presidential Election Year, found that millennials don’t have much trust in the government to do what’s right. Rather, they count on themselves to create change by being “everyday changemakers,” expressed through what they buy, wear, and eat.
- Tax exempt organizations (including hospitals, colleges, and traditional charities) provided seven-figure compensation to about 2,700 employees in 2014 a new study shows. This total is a third higher than 2011’s numbers according to the Wall Street Journal.
- The world’s largest community foundation, the Silicon Valley Community Foundation, has reached $4 billion in grantmaking over its first 10 years. A report about the Foundation’s first 10 years show that its assets have increased 17% annually over the last decade, compared to 5% for the community foundation field as a whole.
- The Rockefeller Foundation launched Zilient, a news platform with its own networking component. Rockefeller hopes the platform will help cities and countries bounce back from disasters.
- The American Association for the Advancement of Science and the Bill & Melinda Gates Foundation have announced a partnership aimed at advancing scientific communication and open access publishing.
- As state funding for public universities continues its decades-long decline, university foundations have stepped in to fill some of the void. However, these private foundations operate with little to no public oversight, which has led an investigation by the Chicago Tribune to conclude that some of these entities are not spending their dollars in responsible ways but are instead spending large sums on things like traveling to meet donors.
Updates on Giving
- Global private philanthropy to developing nations totaled a record $64 billion according to a report from the Hudson Institute’s Center for Global Prosperity.
- The crowdfunding sector generated $34 billion in cash in 2015 with about 70% going toward those in need.
- Online giving in the U.S. increased 7.9% from 2015 to 2016 according to an annual report from Blackbaud.
- Kristine Tompkins, former CEO of the Patagonia clothing company, pledged to expand Chile’s national parkland by 10 million acres. Tompkins plans to hand over slightly more than one million acres to the Chilean government in what is being touted as the largest donation of privately held land.
- Peer-to-peer fundraising revenues have fallen for the fourth consecutive year. Peer-to-peer fundraising is a method that leverages an organization’s supporters to fundraise on its behalf.
- A class action suit has been filed against PayPal’s Charitable Giving Fund, alleging that it took donors’ gifts intended for specific charities and directed them without consent to charities of PayPal’s choice.