|Subscribe via E-Mail||Subscribe via RSS||Submit a News Item|
FBI investigates Sacramento mayor’s nonprofit
Jun 17, 2009; Associated Press | The imbroglio started with the firing of the Inspector General at the Corporation for National and Community Service is deepening, now with the announcement of an FBI investigation of Sacramento Mayor Kevin Johnson’s AmeriCorps-subsidized charter school. —Rick Cohen
Judge orders jail for Stanford after indictments
Jun 19, 2009; Commercial Appeal | The Texas version of Bernie Madoff, R. Allen Stanford, traded his mansion for a room in the hoosegow after his indictment for running a Ponzi scheme to bilk investors out of $7 billion, including the diversion of $1.6 billion in “loans” to himself. In Memphis, Tennessee, Stanford apparently swindled nonprofit investors, attracting them in part by making personal donations to the nonprofits and flying potential client-investors to his properties in Antigua for island getaways. As in the case of Madoff, when a sharpie like Stanford promises returns that are too good to be true, they’re probably too good to be true. Just ask the Memphis nonprofits that lost their shirts with this guy. —Rick Cohen
Work for less? Most say yes!
Jun 11, 2009; Third Sector | In news from Australia, a survey of nonprofit human resource managers and executives had some unusual observations about nonprofit job applicants. Some 78 percent of these managers said that applicants were willing to work for less than they would be paid in equivalent positions in the private sector, specifically 56 per cent saying applicants would work for 10-20 percent less, 19 percent saying applicants would work for 20-30 percent less, and 6 percent saying applicants would work for more than 30 percent less. This was a survey of the employers, not the employees or potential employees. One