Nonprofit Newswire | July 7, 2009

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Bill Clinton Begins First Trip to Haiti as United Nations Special Envoy
Jul 6, 2009 MaximsNews Network | Is the new second act for political leaders the role of international philanthropist?  The soon to be ex-president of South Korea is donating his family fortune of $26 million, all except for their $3.5 million Seoul home, to capitalize a new, eponymous foundation that will offer scholarships for needy children.  Former UK prime minister Tony Blair created two foundations in recent years, and is popping up in lots of places as a philanthropist, but no former leader of a major nation is as philanthropically ubiquitous as President Bill Clinton.  Here, in the company of UN Secretary-General Ban Ki-moon, Clinton called for philanthropists to make good on their pledges, and to provide more resources to Haiti.  President Clinton the philanthropist is one of the speakers at the Council on Foundations conference on rural philanthropy on July 14th in Little Rock, Arkansas. Can’t wait to see the Putin Foundation’s philanthropic portfolio.  Rick Cohen

Good News for Gloomy Times
Jul 7, 2009; The Agitator | Despite the recession, Canadians have made charitable bequests totaling $54 billion this year – up a whopping 28% over last year according to an FLA Group Survey.  —James David Morgan

Nonprofits get relief from endowment law
Jul 3, 2009; Boston Globe | Massachusetts has joined a number of other states in loosening—a bit—the restrictions that prevent nonprofits from tapping the principal in their endowments.  For many nonprofits, this recession necessitates being able to use more than simply the appreciated value of endowments if nonprofits hope to continue providing some of their most critical functions and services until the downturn ends.  —Rick Cohen

Report Suggests that CDFIs are Weathering the Worst of the Economic Crisis
Jul 2, 2009; Sustainability Investment News | A report on how some 1,000 community development financial institutions (CDFIs) are navigating the worldwide economic recession with more strength than many conventional financial institutions.  In the first quarter of 2009, though constricted with liquidity challenges, nonprofit CDFIs were relatively stable compared to mortgage lenders that continued to nosedive.  —Rick Cohen

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