Bank of America scraps matching program...

January 4, 2010

Bank of America retirees no longer will be able to match their charitable donations with donations from their former employer, The Boston Globe reported Jan. 2 (see Bank of America story). The program was jettisoned "in light of the unprecedented economic environment" and because of the bank's growth over the last 10 years.

The William Penn Foundation received a $747 million gift from John C. Haas, former chair of the foundation's board and son of the founder of Rohm and Haas Co., The Philadelphia Business Journal reported Dec. 31 (see Penn Foundation story). The gift will boost the foundation's endowment to $1.9 billion.

Philanthropist Ruth Lilly, the great granddaughter of Eli Lilly, donated millions to centers and other philanthropic causes during her lifetime, including the Ruth Lilly Health Education Center, The Ruth Lilly Faculty and Executive Center at Franklin College and the Ruth Lilly Technology Center for Easter Seals, IndyStar reported Dec. 31 (see Lilly Foundation story). She died Dec. 30.

Chicago's Poetry Magazine, which received a gift from the late Ruth Lilly that would grow to reach $200 million, has resulted in disputes within the organization about its mission and how the money should be spent, The Chicago Tribune reported Dec. 31 (see Chicago's Poetry story). Over half of the trustees of the foundation created to administer the gift have resigned or been forced out and the state's attorney general now is looking into their complaints.

The attorney general of Iowa is backing legislation that would require charities in the state to disclose in an online system the amount of money they raise that benefits their nonprofit, The Des Moines Register reported Dec. 31 (see Iowa fundraising story). All but 10 states have such registries.

CanadaHelps, a public foundation, has facilitated donations of more than $100 million to the country's 83,0000 charities since 2000, The Financial Post reported Dec. 31 (see online giving story). The organization offers charity gift cards, which allow recipients to direct the donation purchased on their behalf to the charity of their choice.

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