March 20, 2014 |
When St. Joe's students root for their basketball team, they chant, "The Hawk will never die. " That's helped get them to the first round of the NCAA tournament. Now if there were only a fight song for their school's financial health. The Catholic university that straddles the Philadelphia-Lower Merion line faces perhaps the most tumultuous test in its 163-year history. At stake: its academic mission. Hit by an $8.7 million shortfall, St. Joseph's is cutting positions, slashing budgets, and digging deeper into endowment earnings.
February 17, 2014 |
Seven years ago, Patricia Blakely was hired to make "most purposeful in the 21st century" a Philadelphia charitable agency whose minutes include a notation from 1865 denouncing "the horrid murder of one so greatly and justly beloved by all true and loyal hearts. " It was a reference to the assassination of President Abraham Lincoln. The organization was the Merchants Fund. Established in 1854, its mission did not waver for more than 150 years: to provide help to Philadelphia's indigent merchants, either those actively working who met with hard times or those who retired and couldn't make ends meet.
February 12, 2014 |
Page Talbott, a museum and exhibition consultant, curator, and author, has been named president and chief executive of the Historical Society of Pennsylvania, the society's board of councilors announced Monday. Talbott, 63, has been acting head of the society since April 2013, when former president Kim Sajet departed to become head of the National Portrait Gallery in Washington. Bruce Fenton, chairman of the society's board, said he is "thrilled" that Talbott will take over, noting she has "worked closely with historic societies and organizations across the region" for four decades.
December 19, 2013 |
The Philadelphia Museum of Art will announce Wednesday that it has successfully completed a five-year, $54 million campaign to endow 29 staff positions across the full range of museum departments, from painting and sculpture to digital technology. The campaign began in 2008 when H.F. "Gerry" Lenfest, then chairman of the museum's board of trustees, and his wife, Marguerite, offered a $27 million grant and challenged donors to match it, million for million, for the right to endow and name the positions.
September 25, 2013 |
In a significant break from custom, a new foundation has been formed to manage charitable fund-raising for the Archdiocese of Philadelphia, a move designed to reengage disaffected Catholics and boost giving. The Catholic Foundation of Greater Philadelphia made the announcement Tuesday. It follows the formula used last year in turning over management of archdiocesan high schools to the Faith in the Future Foundation. It gives lay leaders more say over church functions that have long been kept under tight control by the hierarchy.
September 3, 2013 |
Thomas J. Lynch lives in Newtown, just 10 miles from where he grew up in Levittown. If that doesn't sound far, consider: 88,000 people at 100 factories from Harrisburg to China now call him boss. Lynch, 58, has parlayed an accounting career into the top job at TE Connectivity Ltd., a formerly profit-challenged Berwyn business whose share price has risen an average of 50 percent a year since 2009 on Lynch's program of relentless cost-cutting and targeted growth, much of it in the United States.
June 12, 2013 |
Some big careers have grown up behind two inscrutable facades on Spruce Street, and now those buildings have grown to three. The Academy of Vocal Arts, long resident at 1918 and 1920 Spruce, acquired the brownstone at 1916 five years ago. But the recession and the related dip in the school's endowment prevented breaking through, renovating, and fully annexing it. The training program for opera singers bided its time, though, and this fall, after...
June 10, 2013
Tycoons hoping to better society from beyond the grave might consider living (and dying) somewhere other than Pennsylvania. This is, after all, the state where Albert Barnes' idiosyncratic suburban art school was repurposed as a downtown museum, and where the school underwritten by Milton Hershey's fortune has become mired in inexplicable investments and state investigations. Yet another dead capitalist's construct is unraveling at Philadelphia's Girard College. The boarding school for needy children, built in the mid-19th century with the massive fortune of financier Stephen Girard, is undergoing a radical restructuring.
May 23, 2013 |
THE PRESIDENT of La Salle University said yesterday that he will step down in May 2014 after 15 years, to allow the school to transition into a new era of leadership. Michael McGinniss, 65, known as "Brother Mike," grew up in Olney and graduated from La Salle in 1970. He has a Ph.D. from Notre Dame and has headed La Salle since 1999. Under his three terms, the Logan-based Catholic institution nearly doubled its endowment, increased its enrollment and expanded its footprint in the northern part of the city.
April 18, 2013 |
The Free Library of Philadelphia Foundation would take over the Rosenbach Museum and Library under the terms of a letter of intent approved Tuesday by their boards. The memorandum of understanding leaves important details to be negotiated, but aims to make the Rosenbach a subsidiary of the library by June 30. Such a deal would likely require the approval of the Pennsylvania Office of Attorney General, and, depending on the way it is structured, perhaps also of Orphans' Court.