nonprofit

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Geffen Would Make NYT a Nonprofit
Geffen Would Make NYT
a Nonprofit
May 13, 2009 8:41 PM CDT

Geffen Would Make NYT a Nonprofit

Mogul still interested in buying a large stake in the Times

(Newser) - Hollywood’s David Geffen has amassed a multi-billion-dollar fortune through his business acumen, so why on earth is he looking to invest in the newspaper industry by buying a large stake in the New York Times? The reason, two sources tell Johnnie L. Roberts of Newsweek, is that Geffen doesn’...

No Newspaper Is Worth Saving—in Its Current Form

(Newser) - It's only a matter of time before major American newspapers become nonprofits, writes Simon Dumenco in Advertising Age. The idea—he himself wrote about it in 2006, borrowing from the model of the Guardian—is "an inevitability," he writes. And now that a few "suddenly panicky" senators...

Nonprofit Lobbyists Want Obama to Let Them In

White House ban bars experts, policy suffers

(Newser) - Nonprofit groups have launched a new campaign on behalf of their own lobbyists, the New York Times reports. Barack Obama’s current anti-lobbying rules don’t make any distinction between corporate influence peddlers and public interest advocates; all are barred from administration jobs. Case in point: Tom Malinowski, the Human...

Cuomo Charges Madoff Feeder With Fraud

Says 'investment guru' Merkin was really just 'master marketer'

(Newser) - New York AG Andrew Cuomo has charged J. Ezra Merkin, a prominent New York philanthropist who funneled $2.4 billion into Bernie Madoff’s Ponzi scheme, with fraud, the Wall Street Journal reports. The complaint doesn’t accuse Merkin of knowing about the scheme. But it alleges that he lied...

Senate Bill Seeks to Rescue Newspapers

Proposal would let titles apply for nonprofit status, save on taxes

(Newser) - Legislation was introduced in the Senate yesterday that would allow newspapers to operate as nonprofits, providing major tax breaks for an industry in free fall, reports MarketWatch. Democratic Sen. Ben Cardin has proposed that newspapers could claim 501(c)(3) status in the same manner as public broadcasting, making advertising and subscription...

Mother Jones Provides Model for Nonprofit News

Floundering for-profits take note of magazine's success

(Newser) - Mother Jones has thrived for 33 years as a nonprofit publication, and its business model is becoming of increasing interest to struggling newspapers, the San Francisco Chronicle reports. Though the magazine was founded as a nonprofit because of Nixon-era fears of undue influence in journalism, Mother Jones hit its financial...

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...

Cutbacks Hit Faith-Based Charities as Need Rises

Slashed state budgets leave programs with reduced funding

(Newser) - The recession has hit faith-based charities hard, threatening to cut off vital services for the sick, poor, and elderly, the Washington Post reports. With state and local budgets strapped for cash, contracts and grants for the groups—including the Salvation Army and Catholic Charities—have been slashed or delayed across...

Nonprofits Are Going Bust, Too
Nonprofits Are Going Bust, Too
Feb 20, 2009 1:26 PM CST

Nonprofits Are Going Bust, Too

More charities and arts groups are filing for bankruptcy during the slowdown

(Newser) - It's not just homeowners and businesses seeking bankruptcy protection in the cooling economic climate: Nonprofit organizations are hurting, too, and some aren't going to survive. With dwindling donations, tight loans, and stagnant state funding, social service charities and arts groups are running up huge debts, reports the New York Times....

To Save Itself, Press Should Become a Religion
To Save Itself, Press Should Become a Religion
OPINION
Feb 11, 2009 2:44 PM CST

To Save Itself, Press Should Become a Religion

Papers would enjoy the benefits of tithing and tax-exemption: Bates

(Newser) - As profits continue to fall, some have suggested turning newspapers into non-profit, endowed institutions similar to colleges. A better way to go non-profit would be for the press to declare itself a religion, writes Stephen Bates for Slate. The tax benefits would be substantial, as would legal protections for reporters-turned-priests,...

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...

UK Forking Over $60M to Bail Out Charities

Nonprofits fear reduced services for homeless, unemployed, families

(Newser) - The British government will bail out the nation's charities with a $60 million lifeline, as experts warned that one in three nonprofits may have to lay off staff, reports the Guardian. While the charities welcomed the bailout, it is far less than the $150 million they requested to maintain vital...

Boy Scout Bosses Sell Wildlands to Developers
Boy Scout Bosses Sell Wildlands to Developers
INVESTIGATION
Jan 31, 2009 1:13 PM CST

Boy Scout Bosses Sell Wildlands to Developers

'Conservation-minded' group slammed for cashing in on green spaces

(Newser) - The Boy Scouts of America has made tens of millions of dollars over the past two decades by selling campgrounds and valuable wildlands across the country to developers, a Seattle Post-Intelligencer investigation reports. The organization—which boasts a "conservation-minded" Outdoor Code—has often exclusively sought deals with developers, sometimes...

It's Time to Endow Newspapers
 It's Time to Endow Newspapers 
OPINION
Jan 28, 2009 9:23 AM CST

It's Time to Endow Newspapers

Times begs for its life

(Newser) - Newspapers are dying, and there’s only one way to save them, write Yale's David Swensen and Michael Schmidt in today’s New York Times: Make them nonprofit, endowed institutions, like colleges. The Internet has made the for-profit model systematically unsustainable, and constant attempts to refinance and cut costs are...

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...

NY Investigates Madoff Chum in Charity Losses

Nonprofits say Merkin invested millions without their knowledge

(Newser) - New York investigators widened their inquiry into Bernie Madoff's Ponzi scheme yesterday, as claims emerged that a middleman may have defrauded charities of millions of dollars. Money manager Ezra Merkin allegedly invested the money of 15 nonprofits in Madoff funds without their knowledge, reports the New York Daily News. New...

Philly Mayor to Lease Closing Libraries

11 buildings would be run by private or foundation centers

(Newser) - The mayor of Philadelphia has preliminary agreements with private foundations and nonprofits to manage at least five of the 11 libraries the city is closing out of budget concerns, the Inquirer reports. The new institutions, which Michael Nutter said he hopes will become “knowledge centers,” will retain collections...

At-Risk Owners Pay Big Bucks to Mortgage Modifiers

Some take advantage of patchwork laws, charge for services non-profits offer for free

(Newser) - A growing mortgage-modification industry has cropped up amid the housing bust, the Washington Post reports, charging homeowners thousands to help them negotiate better loans. The problem? Non-profit groups already offer those services gratis. “It is very frustrating to find a homeowner who has paid a for-profit company $3,000...

Big Players Reel in Charity Spending

Drop-off in corporate giving leaves groups scrambling

(Newser) - Charities used to getting much of their money from major corporations and private foundations are feeling the economic downturn, the Wall Street Journal reports. Bill Gates’ foundation plans to give fewer grants next year, and other large donors are honoring existing pledges but refusing to make new ones. “You...

Non-Profit Pharma Puts Cures Over Cash

Institute for OneWorld Health finds cheap, new uses for partially developed meds

(Newser) - Combating diseases that afflict only the poor doesn't plump the profit margins of pharmaceutical companies; now comes one that sets out to do just that as a non-profit, Good Magazine reports. Using grants to look at long-forgotten compounds, fund clinical trials, and distribute affordable meds to the world’s poorest...

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