Wells Fargo
Charitable giving by America’s biggest companies will probably be flat in 2011, after a sharp rebound in 2010, according to a Chronicle of Philanthropy survey of 180 of businesses.
Cash giving rose by 13 percent, a relief to charities after the recession caused a decline of 7.5 percent by companies in 2009.
Seventy-four of the 107 companies from the Fortune 500 that provided projections said they expect this year’s giving to remain about the same as last year’s. Twenty-seven expect total giving to increase, while six expect a decrease.
AIDS Project Los Angeles (APLA) announced that Clear Channel Communications has exceeded the one-million dollar mark in philanthropic giving to the Los Angeles-based AIDS service organization. The announcement came at an exclusive annual reception honoring the agency's major donors, including Clear Channel.
Clear Channel joins a growing list of now 12 individuals and organizations that have reached this milestone.
The Nonprofit Finance Fund named 12 Philadelphia-area nonprofit organizations that will receive grants and technical assistance through the Capital and Capacity for Economic Recovery (CCER) program. The program has awarded $600,000 to nonprofits in much-needed financial resources, paired with technical assistance designed to strengthen long-term fiscal heath — all with the end goal of improving job training services and other economic development support for Philadelphians. This second round of CCER awards comes as results from the first allocation demonstrate the broad impact of the program.
Wells Fargo customers logging into ATMs in recent weeks found a new option on their screens. Next to the box that says "Deposit Cash" is one saying "Donate to Charity." Donate they did. In just 10 days, the ubiquitous ATMs collected more than $1 million for Japan relief efforts by the American Red Cross. The experiment marks the first time ATMs have been used nationwide - by any bank - to raise money for a charity, say national banking officials.
The Arts & Science Council knew it wouldn’t be easy to pull off its 25-year cultural master plan to build new museums and a performing arts center. That wasn’t even counting the worst thing that eventually did go wrong: the recession and banking crisis that struck just two years into the council’s $83-million fundraising campaign, imploding its biggest corporate supporter and freezing philanthropists’ checkbooks.
Yet today Charlotte’s business district boasts three new art museums, a performing-arts theater and a remodeled children’s science museum.
The Bay Citizen, the “nonprofit, nonpartisan news organization” that launched last May with $5 million in funding from billionaire Warren Hellman, said Thursday it’s subsequently raised an additional $10 million.
In recent months, The Bay Citizen has taken to asking readers and others to contribute to its cause, akin to the pledge drives used to solicit philanthropic funding for many public television stations.
If you traditionally "give at the office" during the holidays, listen up. Some charities now suggest you can forget cash. Instead, they want your art collection, homes, cabins, stocks, life insurance or a mere mention in your will.
In November, Twin Cities Habitat for Humanity launched its "Other Ways to Give" campaign, which advocates "four non-cash gift ideas" for the holidays. The mailing features four brightly wrapped gift boxes labeled Personal Property, Real Estate, Stocks and Life Insurance.
This week's industry news includes a new partnership, recognition for a women-run business, and an Ebbie Award winner.
Bill Gates and Warren Buffett are urging U.S. billionaires to give away their money, but economic uncertainty is deterring rich Americans from increasing their giving, say bankers to the very wealthy.
Chief executives of Wells Fargo Private Bank, Credit Suisse Private Bank, Bessemer Trust, Silvercrest Asset Management and Bank of America's U.S. Trust told the Reuters Global Private Banking Summit that some rich people were reassessing their giving as the country recovers from its worst recession in decades.
Corporate profits are on the rebound, but most big businesses say it will be some time before they can give as much cash as they did before the recession, according to a Chronicle survey of 162 of the country’s largest corporations.