Shaky economy–a good time to fund overhead [News, 5/27]


Skyrocketing rents, gas pinch area’s nonprofits (WBJ, 5/23 – Subscription only–sorry). Article includes the point that “foundations must consider funding nonprofits’ operating costs if they want them to persevere when the economy isn’t good.” Terri Lee Freeman: “If everyone said [nonprofits] can get operating costs] from somebody else, we’d have no nonprofits.”

U.S. Medical Research Gets $600 Million From Institute (WaPo, 5/27) – Howard Hughes Medical Institute (WG member) funds “research that many grantmakers would consider too risky but that could produce the greatest breakthroughs.” … A local grantee notes that these funds come with fewer strings attached than an NIH grant: “You have much more freedom” (Examiner, 5/27)

DC SCHOOLS
Fenty campaign to raise $75M for schools from private sector met with sticker shock (WaPo, 5/25) – Dinegar: “The business community does not want the request coming in dribs and drabs. Let’s see a four-year plan, a three-year plan, even a one-year plan. Give it to us.” Rhee says she has such a plan and “intends to provide more details in discussions with the national foundations during the next two to three months.”
Rhee Says Budget Formula Change Will Bring Art, Music to Schools (WaPo, 5/26)
WaPo on DC reform effort (5/27): “reason for cautious optimism”

ALUMNI GIVING
Enjoy the Reunion. Skip the Check. (NYTimes, 5/25) – Harvard grad asks alma mater: Why do you need my $1000? (Or, to put it more provocatively, “Harvard is really a $40 billion tax-free hedge fund with a very large marketing and PR arm called Harvard University that has the job of raising the investment capital and protecting the fund’s preferential tax treatment.”)

HUNGER/NUTRITION
With Prices Rising, DC Central Kitchen Goes Local – Its “Farm Cooperative” buys seconds from regional farmers, cutting costs and stimulating economy (WaPo, 5/24)
Rising Prices Hit Home For Food Stamp Recipients (WaPo, 5/27)

NONPROFITS
Tax Exemptions of Charities Face New Challenges (NYTimes, 5/26)
Many charities have not felt the economic crunch – yet (Phil. Inquirer, 5/26)

WG MEMBERS
Curtis & Edith Cummings Munson Foundation honors athlete scholar (CBS, 5/24)

And finally, D.C. residents gain the right to vote! (…for a commemorative quarter design. Baby steps.)