Philanthropists Cry Foul Over Obama Budget

(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 could drop off in the next year. And those that don’t shutter are facing heartbreaking cutbacks. More»

It's the season of giving, but do your research first, writes Nicholas Kristof

(NEWSER) - Nicholas Kristof thinks it’s great that many people “will dig into their pockets for good causes” this holiday season—he just wants to make sure you know which causes are actually good. It’s dangerous to assume that all charities share your values and are using your money wisely, he writes in the New York Times . People who call you or stop you on the street to ask for donations are often paid fundraisers “who will take much of what you give"—and even if they're not, sometimes the organizations themselves can't be trusted. More»

First look at proposed 2011 budget shows sharp break between haves and have-nots

(NEWSER) - President Obama delivered his proposed 2011 budget to Congress today, and the Washington Post drills down to find the winners and losers. Winners first:

• K-12 education: The Department of Education's budget will increase by 6%, or $3 billion.
• Research: The proposal pumps up the Energy Department's budget 7%, or $2 billion, and the National Science Foundation's budget climbs 8%.
• The military: The Defense Department's budget rises 3.4%, and that's not counting spending on the Afghanistan and Iraq wars.

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 recovered. "There is a real danger that once you dip into principal you aren't going to get it back," says one expert. More»

Items include bringing jobs back to US, tax credits for small business

(NEWSER) - Because Congress loves being bossed around like nothing else, President Obama will today unveil a "to-do list" of priorities, which have historically had bipartisan support, and which he says will "help restore middle class security." "At this make-or-break moment for the middle class, we need to create an economy built to last," the White House said in a statement. More»