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Examples include $1.5 million of employee theft at Memorial Sloan-Kettering Cancer Center, $43 million of improper payments to grantees at The Global Fund, and a $26 million endowment write-off at New York University due to a fraudulent investment manager. Many charities prefer to handle cases of fraud quietly because public disclosure can be ...
This uniform law is adopted state by state, and therefore the law may be slightly different in each state. For example, on September 20, 2010, New York Gov. David Paterson signed into law the New York version of UPMIFA called the New York Prudent Management of Institutional Funds Act or NYPMIFA. [8]
Donor-advised funds do reap a significant cost advantage (foundations carry a 2.5–4% of assets overhead expense to maintain, a 1–2% excise tax on NET investment earnings and a required 5% spending of assets each year) but may also have one more drawback: a limited lifetime, although this varies depending on the sponsor.
Children's Investment Fund Foundation United Kingdom: London: $5.9 billion £5.2 billion 2002 [37] 36 Conrad N. Hilton Foundation United States: Westlake Village, California: $5.9 billion 1944 [38] 37 Nemours Foundation United States: Jacksonville: $4.6 billion 1936 [39] 38 Bloomberg Philanthropies United States: New York City: $4.2 billion ...
El Paso is the U.S.-Mexico border in miniature: Once a permeable landscape, the Texas city is now separated from its sister to the south—Ciudad Juárez—by a harsh apparatus of walls and wire.
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One example is SEEDR L3C, founded in 2008 in Atlanta to develop hardware, software, service, and policy solutions that help improve access to healthcare in Africa. [42] In 2009, the Gates Foundation gave SEEDR L3C a $529,566 investment to fund the development of insulated containers for vaccine transport in developing countries. [43]
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