Weekly News Recap: March 25, 2016

Diana Krecsy, president and CEO of the Calgary Homeless Foundation, said she was 'encouraged' by the federal government's announcement that it would invest in affordable housing. (credit: CBC)


Creative Thank Yous

  • VIDEO: A Special Thank-You from ATP A very nice way to say thank you to the Government of Canada from Calgary's Alberta Theatre Projects. ViTrēo is proud to be working with ATP. CALGARY STORY (3/22/16)


  • 2016 Federal Budget: Impact on Charities and NFPs An early, concise, and comprehensive analysis of the new Canadian 2016 Federal Budget and its impacts in the nonprofit sector. Thank you Carters Charity Law Bulletin. CANADIAN CONTENT (3/23/16)


Trends and Shifts

  • Can America's National Parks Pull in the Big Private Bucks? Significant major gifts have gone to large urban parks in the U.S. ($100 million to Central Park in NYC) but not so much to national parks. Recent gifts like the $18.5 million gift to the Lincoln Memorial might be signaling a change here. The National Park Foundation has launched a $350 million campaign to honour its centennial. (3/22/16)


Philanthropic personalities

Tax law

  • Charitable Donation Planning in 2016 Recent amendments to Canada's Income Tax Act have resulted in some changes that may significantly impact estate plans. Some good info in here. Bottom line, If the Estate is giving to charity, make sure it is done within 36 months of the individual's death. CANADIAN STORY (3/14/16)

Philanthropic controversy

  • Rockefeller Family Fund to Eliminate Fossil-Fuel Holdings This fund, valued at $860 million, is one of a number of large funds that have or are considering divesting of fossil-fuel holdings. (3/24/16)

  • Wounded Warrior Founder Says Charity 'Grew Too Fast' John Melia, the founder and former head of the Wounded Warrior Project says that the veterans charity "grew too fast" under his successors and "became exactly what we didn’t want it to be become." The former Marine said he wants to return to the nonprofit he launched 13 years ago following the departure last week of Wounded Warrior's top two officials. (3/18/16)

  • Judge Orders Ill. College Foundation to Release Records This is believed to be the first time in Illinois where a public college or university's nonprofit support organization have been forced to disclose their records. I say, transparency is good. (3/18/16)

Large gifts

  • Placer Land Trust Makes Largest Funded Land Donation in Northern California to California State Parks This land, a 417-acre parcel,valued at $1.4 million, was for recreational activities in Placer County, along with management funding. (3/24/16)

  • Law school receives $30 million donation to rename China Center Yale Law School received a $30 million gift to its China Center, which be will be renamed the Paul Tsai China Center in recognition of the donation. Joseph C. Tsai, an alumnus of Yale, is executive vice chairman of Alibaba Group — the largest e-commerce company in China. Tsai made the donation in honor of his father, Paul C. Tsai. (3/24/16)

  • Kosair receives anonymous donation of $2.5 mil Kosair Children's Hospital in Louisville, Kentucky recently received this gift from an anonymous donor in honour of an orthopedic spine surgeon at Norton Leatherman Spine Center. The gift will be used to improve spinal care for local children. (3/23/16)

  • Donation for college The Baoneng Group donated 100 million yuan (US$15.47 million) to the South University of Science and Technology of China (SUSTC) in Shenzhen for education and scientific research. (3/21/16)

  • Mellon Grant Aims to Raise $75 Million for National Gallery The National Gallery of Art has received a $30 million challenge grant from the Andrew W. Mellon Foundation. This grant was made to mark the Washington institution's 75th anniversary. I love challenge grants! BTW, in 2014, the total endowment for the Mellon Foundation was $6.3 billion. (3/18/16)

  • An exceptional donation for the Philadelphia Museum of Art The Philadelphia Museum of Art received a gift $10 million as well as some fifty works from Daniel W. Dietrich II, Mr. Dietrich, a well known philanthropist, died last year. (3/18/16)

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