Latest Endowments News

Eastern Michigan gets $1M gift for math, automotive programs

Jun. 13, 2021 09:24 AM EDT

YPSILANTI, Mich. (AP) — Eastern Michigan University has received a $1 million gift from alumnus Jack E. Roush who co-owns NASCAR team Roush Fenway Racing. The gift will support mathematics and automotive programs, Eastern Michigan said. A $400,000...

Outdoor theater gets $10 million donation

Jun. 10, 2021 09:10 AM EDT

MADISON, Wis. (AP) — An outdoor theater struggling through the COVID-19 pandemic has received a massive donation. The Wisconsin State Journal reported Thursday that the Pleasant T. Rowland Foundation has handed the American Players Theatre $10...

A year later, racial reckoning yields uncertainty in giving

Jun. 03, 2021 11:27 AM EDT

One year ago, as protesters filled America's streets demanding justice after George Floyd’s murder by police, corporations and major philanthropists pledged an outpouring of donations for racial equity causes. Billions of dollars were committed to new philanthropic...

MacKenzie Scott’s no-strings gifts extend beyond grantees

Jun. 02, 2021 19:57 PM EDT

MacKenzie Scott stormed the philanthropy world last year with $5.7 billion in unrestricted donations to hundreds of charities. The seven- and eight-figure gifts were the largest many had ever received. At the time, few people understood the multiplier effect those gifts would have or how...

Distiller announces annual scholarship for Kentucky State

May. 25, 2021 04:12 AM EDT

SHELBYVILLE, Ky. (AP) — A Kentucky whiskey maker has announced a $25,000 annual scholarship for Kentucky State University's master of agriculture sciences in environmental studies program. Bulleit Frontier Whiskey hopes to promote diversity in the industry with the gift...

Alaska governor proposes dividend, oil-wealth fund plan

May. 12, 2021 22:06 PM EDT

JUNEAU, Alaska (AP) — Alaska Gov. Mike Dunleavy proposed Wednesday what he called a step toward a broader fiscal plan that includes placing in the state constitution a new formula for the annual check residents receive from Alaska's oil-wealth fund. The proposal,...

Bill and Melinda Gates divorce could shake up philanthropy

May. 04, 2021 17:50 PM EDT

As much as Bill and Melinda Gates might want to keep their pending divorce private, the split between the billionaire co-founders of the world’s largest private foundation is sure to have very public consequences, with the breakup having already sent a wave of anxious uncertainty through...

Becker College laying off 329 as it prepares to close

May. 02, 2021 09:24 AM EDT

WORCESTER, Mass. (AP) — The Worcester-based Becker College is planning to lay off 329 employees when it closes at the end of the academic year. Of the layoffs, 245 will be in Worcester and 84 in Leicester. The Worcester Telegram and Gazette reports...

Court: U of Iowa must comply with subpoena on utilities deal

Apr. 30, 2021 12:26 PM EDT

IOWA CITY, Iowa (AP) — The University of Iowa must comply with a subpoena from the state auditor that seeks the names of investors in a multibillion-dollar utilities privatization agreement it completed last year, the Iowa Supreme Court ruled Friday. State Auditor Rob...

Dan, Jennifer Gilbert give $30M to Detroit-area art academy

Apr. 07, 2021 12:41 PM EDT

BLOOMFIELD HILLS, Mich. (AP) — Billionaire businessman Dan Gilbert and his wife, Jennifer, have given $30 million to a private graduate art school in suburban Detroit to help it accelerate its diversity, equity and inclusion efforts. The funding also will help with...