Freddie Mac Foundation announces wind-down plan

Today, the Freddie Mac Foundation announced its plan to complete the spend-down of its assets and to complete its activities. The plan focuses on continuing to serve current grantees as it gradually reduces funding. Starting next year, the Community Foundation for the National Capital Region will administer the remaining grants.

When the financial crisis hit, it was unclear how the Freddie Mac Foundation’s giving might be affected. The 8 Neighbors group, of which WRAG is a part, worked with the foundation to identify ways to maximize the impact of their changing funding strategies. In the Daily today, Tamara looks back on how the uncertainty was reshaped and how continued giving by the foundation since 2008 has been a major success story. (Daily, 5/8)

COMMUNITY
– It is with very mixed emotions that we share the news that Rachel Wick, director of policy, planning, and special projects at the Consumer Health Foundation, will be heading to the San Francisco Bay Area to work for the Blue Shield of California Foundation.

As most of you already know, Rachel is a rock star in our community. She’s been a key leader around health advocacy and health justice in our region, and she’s helped lead WRAG’s Health Working Group and Working Group on Aging to a great many successes. Plus, she’s been WRAG’s neighbor down the hall for the past eight years.

So, while we’re quite sad that she’s leaving, we’re also very excited for her new opportunity. California is incredibly lucky! We wish Rachel all the best on her new adventure.

– The board of the Eugene and Agnes E. Meyer Foundation has elected Joshua Bernstein as its new chair. In addition to serving as CEO of the Bernstein Management Corporation, Joshua is the vice president of the Diane and Norman Bernstein Foundation. The board also elected Deborah Ratner Salzberg, President of Forest City Washington, as its vice chair and Barbara Lang, CEO of the DC Chamber of Commerce, as secretary-treasurer. [Read more.]

YOUTH | Mayor Gray has released an FY 2014 Children’s Budget Report, detailing his plans for spending $2.1 billion on children, youth, and families. (DC.gov, 5/3)

Related: D.C. summer school expanded in passage of $241m supplemental budget (Examiner, 5/8)

ARTS | The Kennedy Center’s Michael Kaiser shares an article from across the pond about the effect that arts and culture events have on tourism. He uses the example as further proof that our government should be spending a lot more on the arts. (HuffPo, 5/6)

LOCAL
D.C. sets tourism record with 19m visitors in 2012 (Examiner, 5/8)

– But nobody is going to come back once they find out that our ground tries to devour things. (WaPo, 5/8)

GIVING | Eleven more people have signed the Giving Pledge. (Chronicle, 5/8)

PHILANTHROPY/NONPROFITS | Wondering what it’s like on the “other side?” Well go to a seance then. We don’t do that here! Just kidding, check out this National Committee for Responsive Philanthropy piece written by someone who has worked both as a grantseeker and a grantmaker. (NCRP, 5/6)


CNN has become the laughing stock of the news industry, which is especially impressive considering that it occupies the same industry as MSNBC and Fox News. Sure, you could point to reporting 100% false news about tiny things like the Supreme Court’s healthcare decision or the Boston bombings. But the real reason that CNN is at the bottom because they do absurd things like this.

I probably write a little too much about nerdy things, but big whoop, here’s something else – a hilarious Audi commercial feature two Spocks, Leonard Nimoy and Zachary Quinto.