July 4, 2016 |
One of the nation's top arts consultants says that the Philadelphia Orchestra has accomplished much since exiting bankruptcy - but warns that it has not secured the support necessary to ensure its future. The orchestra is overly dependent on a small number of donors - 78 percent of its philanthropy comes from just 2 percent of its donors - which, according to the report, makes the group vulnerable to a funding crunch if any one of them pulls out. The orchestra's endowment is small compared with those of several peer groups in other cities.
June 4, 2016 |
Temple University trustee Leonard Barrack and his wife, Lynne, have donated $5 million to the university to be used for law school scholarships, Temple announced Thursday. Both Barracks are Temple graduates. Leonard Barrack, a lawyer, graduated from the business school in 1965 and the law school in 1968, and his wife got her degree in education in 1968. Two of their children have also received Temple degrees. Terms of the five-year Barrack Scholars program are still in development.
April 10, 2016 |
University scholars who work under threat in countries that suppress academic freedom will be offered "safe haven" through a new endowment established in honor of Beau Biden, late son of the vice president. The $1 million gift, from an anonymous donor, will pay for one scholar each year to move to an American university and work free from danger. The Institute of International Education announced the gift Friday afternoon at a news conference at the University of Delaware's campus in Wilmington.
March 30, 2016 |
Moorestown Friends School has launched an ambitious campaign to raise funds for a program that has been covering tuition and other costs for low-income students from Camden. The elite Burlington County school has already received contributions totaling nearly $3 million toward endowing its Camden Scholars Program, Head of School Larry Van Meter said. "I am extremely grateful to these lead donors for making such significant commitments to our school and to the Camden Scholars Program," Van Meter, an alumnus, said in a statement Monday.
February 26, 2016 |
Swarthmore College, the epicenter of student protest last year over investment in fossil fuels, has budgeted $300,000 as part of an ongoing commitment to improve energy conservation on campus. The college's board of managers, at its meeting last weekend, approved the expenditure as part of a $160 million budget. Swarthmore drew national attention last spring when students staged a 32-day sit-in to try to persuade the board to divest fossil fuels from its endowment portfolio. The board voted last May not to divest any of its $1.9 billion endowment, citing investment guidelines that call for "the endowment to yield the best long-term financial results, rather than to pursue other social objectives.
December 12, 2015 |
Henry M. Rowan, 92, an inventive engineer and industrialist whose historic $100 million donation transformed modest Glassboro State College into the regionally acclaimed university that carries his name, died Wednesday at an assisted-living residence in Bucks County. In 1992, Mr. Rowan and his wife, Betty, set the record for the largest gift to a public college in the history of American higher education. While the couple had no connection to the school, they did occupy the same state.
October 7, 2015 |
As talks continue between the Philadelphia Orchestra Association and musicians over a new labor pact, management has agreed to hire consultant Michael M. Kaiser to assist in addressing chronic big-picture challenges like fund-raising and strategic direction. Musicians have been frustrated in contract talks - not only with the financial details of the deals management has been floating, but also with the financial realities that appear to be underpinning those offers. The association has been engaged in an endowment drive whose goals are not ambitious enough to support an orchestra of the level of Philadelphia's, musicians say. Kaiser will be retained for a six-month contract, according to an association spokeswoman.
September 6, 2015 |
Daniel W. Dietrich II, 73, a self-effacing philanthropist who valued quiet exploration as much as artistic adventure, died Tuesday, Sept. 1, at Paoli Hospital. Mr. Dietrich, who lived in Chester County, was heir to a family conglomerate that once counted Luden's cough drops among its assets. He was vice president of Luden's, based in Reading, for a time, but his tastes ultimately ran more toward cultural activities than business endeavors. A longtime board member and supporter of the University of Pennsylvania's Institute of Contemporary Art, Mr. Dietrich made a bold statement about his interests this year when he gave $10 million to ICA to form an endowment that would enhance the scope and flexibility of the institution's curatorial efforts.
July 24, 2015 |
Q: Why won't my wife have sex with me when I want to? She doesn't like to have sex in the morning and that's the only time I'm ready. Mia: You may be raring to go at 5 a.m., but she may not be ready to deal with your morning breath before the sun rises. Male and female sex hormone levels rise and fall at different times of the day. With flexibility you can overcome that. But you need to be creative. If she wants sex at night but you're too tired, try exercising after work to see if that gives you more energy.
July 21, 2015 |
Swarthmore College ranks among the nation's wealthiest liberal-arts colleges, overseeing a $1.9 billion endowment - an average of more than $1 million for each of its 1,577 students. Swarthmore's endowment prospered in its most recent fiscal year, with publicly traded stocks constituting almost half its portfolio. Riding a booming market, Swarthmore has generated a 17.8 percent gain last year and an average annual gain of 14 percent over the last five years. Much of the credit goes to Mark Amstutz, chief investment officer at Swarthmore, an historically Quaker school situated on a garden-like campus west of Center City.