Foundations

THE Lee Foundation has given $150 million to Nanyang Technological University's (NTU) new medical school.

Two endowment funds will be established at the school.

Half of the gift - $75 million - is designated for an endowment fund offering student financial aid in the form of scholarships, bursaries and other forms of student financial support. The remaining half will form another endowment fund for the advancement of medical education and clinical research at the medical school.

Reach Out and Read CEO Earl Martin Phalen discusses his organization and its fundraising techniques.

A tax credit aimed at increasing donations to community foundations goes into effect Jan. 1.

Part of the Endow Kentucky Program enacted earlier this year by the Kentucky General Assembly, the new credit offers a 20 percent income tax credit, up to $10,000 per donor, per year, when contributions are made to community foundations. The maximum credit for the entire state is $500,000, so local donors are encouraged to apply early.

In recent years, a small but growing number of families have decided to establish limited life spans for their philanthropic foundations. Aiming for a set period, typically 15 to 20 years, offers an alternative to an organization that is designed to exist in perpetuity.

This decision allows these families to use their assets more quickly and have more impact on the causes they support. And as more families shrink the life spans of their foundations, many are expanding the roles of their financial advisers..

Despite the down economy, the amount American foundations distributed for international purposes dipped by far less than giving to other causes last year, according to a new report from the Foundation Center and the Council on Foundations.

Foundations in the United States gave $6.7-billion last year for international purposes, a drop of 4 percent from 2008 totals. Over all last year, foundation giving declined by an estimated 8.4 percent after grant makers nationwide lost a total of 17 percent of their assets due to the recession.

Months after winning $700 million in the federal Race to the Top competition, New York state's education department says it needs another $18 million, and is turning to foundations, hedge fund managers and other private donors for the money.

The $18 million will pay for systems, technology and research that will help ensure that the state spends the $700 million effectively, education department officials said. 

The Iowa Sudden Infant Death Syndrome Foundation has received a $5,000 grant from the CJ Foundation for SIDS, the largest SIDS organization in the United States.

Funds will be used for the design and distribution of educational brochures highlighting the American Academy of Pediatrics’ recommendations for safe sleep. Free brochures will be given to educators, health care providers and child care providers across Iowa.

The General Motors Foundation plans to give $27.1 million -- the largest donation in its 34-year history -- to the United Way for Southeastern Michigan to help increase graduation rates and rebuild the area's skilled work force, the organizations announced Friday.

The money will go toward creating what's known as a Network of Excellence.

The network will choose five high schools from which to create up to 20 academies along with establishing five early learning communities to help get young children ready for kindergarten.

The competition for foundation grants is greater than ever with charitable service demand at an all-time high. So to ensure your organization is in position to grab the attention of grantmakers, make sure you're set up with the pre-grantseeking needs foundations look for.

For Charlie Annenberg Weingarten, giving away money is personal.