Public and Legal Notices
January 1, 1995 - NEWS RELEASE.
Washington D.C. Insider Joins Web Portal Design, Inc.
International Real Estate Development and Financial Services Network Launch New Market
Dallas, Texas - The International Real Estate Directory [IRED.COM] announced today that it has teamed-up with National Financial Services Network to create the IRED Financial Marketplace.
The Marketplace is a free on-line source of financial products and information for all 50 states and the District of Columbia. IRED's visitors are provided with comprehensive information and one-stop, on-line shopping for products from well-known mortgage lenders, banks, insurance companies and other financial service providers.
Featured in the Marketplace are home loans and insurance; although numerous other products and services are available. Many products have rate and pricing information updated daily, as well as provide on-line applications.
The Marketplace can be accessed from IRED at http://www.ired.com or directly at http://www.nfsn.com/IRED.
According to Steven Howe, President of NFSN, "The Marketplace is a tremendous resource for both the consumers and the real estate professionals visiting IRED. Consumers will find the Marketplace, in addition to being educational, is a very convenient way to shop for financing or insurance needs.
Real estate professionals can use the Marketplace to provide numerous value-added services to their clients - such as using our resource library to help educate clients about the home loan process, exploring clients' financing options, getting clients prequalified quickly, and in many cases even completing the application on-line."
IRED.COM, the International Real Estate Directory, is recognized as the largest and most complete independent real estate guide on the Internet. IRED, based in Dallas, Texas USA can be found on the Internet's World Wide Web at http://www.ired.com. IRED also serves the European marketplace through a mirror site in London, England, which can be found at http://www.ired-europe.com, and the Asian market through a mirror site in Malaysia at http://www.ired-asia.com.
National Financial Services Network (http://www.nfsn.com) operates the Internet's most comprehensive on-line marketplace for financial products and services. NFSN.COM is a division of National Online Media, a developer and publisher of on-line interactive media, based in the San Diego, California USA telecommunications and multimedia center.
The Mayo Foundation for Medical Ed Research
The Mayo Foundation for Medical Education and Research in Rochester, Minnesota, has received the largest gift in its history—$127.9 million from the estate of Barbara Woodward Lips of San Antonio, Texas. Lips, who died in March 1995, was a Mayo patient for more than 40 years and made many significant gifts to the Foundation during her lifetime.
Full Story
Tax Exempt Status of Non-Profits Probed
Although tax-exempt status has been granted by law to certain non-profits in New York and other states since colonial times, tax experts say there is growing pressure across the country to charge these nonprofit institutions a "core service fee" to make up for declining federal, state, and local aid.
Full Story
Budget Cuts Force Grant Application Changes
Budget cuts have forced changes in the grant application process at the National Endowment for the Arts, causing confusion and some anger among artists and officials of arts organizations. Congress cut the arts endowment's budget in 1995 by almost 40 percent, from $162 million to $99.5 million, which in turn forced the NEA to lay off 90 of its 238 staff members.
Full Story
Record Donations to Utah Colleges
More than $100 million—a record amount—was donated to Utah's nine colleges and universities in 1994-95, with 65 percent of the total going to the University of Utah. The university received $63.6 million in donations during the 1994-95 school year, while its endowment, buoyed by a soaring stock market, reached an all-time high of $128.8 million.
Full Story
Blue Cress-WellPoint Recapitalization
WellPoint Health Networks, Inc., one of the nation's largest publicly traded managed care companies, has announced that it entered into a definitive agreement with its principal stockholder, Blue Cross of California (BCC), for a proposed recapitalization of WellPoint in connection with BCC's proposal to contribute all of its assets to two new charitable foundations.
Full Story
Michner Pledges $5.5 Million Trust
Novelist James A. Michener has pledged $5.5 million to three cultural institutions in Doylestown, Pennsylvania, the town where he grew up. Through the Michener Marital Trust, which he established with his late wife Mari, Michener has pledged $3.5 million to the endowment of the James A. Michener Art Museum, to which he had previously donated $2.5 million. The Mercer Museum and the Bucks County Free Library, both of which Michener credits with stirring his imagination as a youngster, will each receive $1 million.
Full Story
Native American Health Grant of $1 Million
Robert Wood Johnson Foundation Gives $1 Million for Native American Health Project. A partnership of ten Native American agencies in the San Francisco Bay Area has been awarded a $1 million grant from the Robert Wood Johnson Foundation to improve the health of Native American people and to alleviate problems caused by drugs and alcohol.
Full Story
S.F. Philanthropist of Levi Strauss Family Dies
Obituary: Rhoda Haas Goldman, a prominent San Francisco philanthropist, is dead at 71. A great-grand niece of entrepreneur Levi Strauss, Goldman was a board member of Levi Strauss & Co.and a director of the Levi Strauss Foundation.
Full Story
Carolyn Van Vleck Pratt, of The Howard A. Van Vleck Foundation, Inc., Death Notice
Full Story
Carl Shirley, of The Jockey Hollow Foundation, Inc., Death Notice
Full Story
William Philler Wood, of The Grundy Foundation and The Louis L. Stott Foundation, Death Notice
Full Story
FEBRUARY GRANTS NEWS:
Philanthropist Gains Fame on Wall Street, Profile
Muriel Siebert, the first woman to buy a seat on the New York Stock Exchange as well as the first to own and operate her own brokerage firm, is probably the best-known woman on Wall Street. She has established three foundations, including one that gives away half of the underwriting fees her firm earns on the sale of new securities, and she has donated millions of dollars to help other women get their start in business and finance.
Full Story
Museum Exhibits Subject to Public Criticism
Cancellations and quickly retailored exhibitions on subjects as diverse as slave life on Southern plantations, the history of lynching, the dropping of the atomic bomb on Hiroshima, and the theories of Freud has raised questions about Smithsonian.
Full Story
Lawyer Ordered to Repay Warhol Foundation $1.35 Million
State appellate court ruled that attorney Edward W. Hayes was entitled to only $3.5 million for his work representing the estate of Andy Warhol. In so doing, the court overruled hearing officer who originally heard the case and awarded Hayes $7.2 million in April 1995.
Full Story
Leatherby Family Gives $2.75 Million for Business Ethics Center
Bangladeshi election officials called out the army today for the first time in five years to shield the few voters expected to defy an opposition boycott of Thursday's parliamentary election.
Full Story
AMWAY SETS UP $11.5 MILLION FOUNDATION TO BUILD SPORTS ARENA
Jay Van Andel, one of the founders of the Amway Corporation, has given $11.5 million through his family foundation to build a new 12,000-seat sports arena in Grand Rapids, Michigan.
Full Story
Paul McCartney Helps Open Performing Arts School in Liverpool
Former Beatle Paul McCartney returned to his hometown of Liverpool, England, to officially open a $23 million performing arts college he helped found at his old high school.
Full Story
The Travelers Foundation, which evolved from the foundations of Travelers Group's Travelers Insurance, Primerica, Smith Barney, and Commercial Credit, is giving more where workers live. Travelers Foundation Gives Locally
Full Story
Texas Wesleyan University Receives $2.5 Million Gift
Texas Wesleyan University has received a $2.5 million gift, the third-largest cash donation in the institution's 106-year history.
Full Story
Financier and Philanthropist Muriel Siebert Gains Fame on Wall Street, Profile
Muriel Siebert, the first woman to buy a seat on the New York Stock Exchange as well as the first to own and operate her own brokerage firm, is probably the best-known woman on Wall Street. Though she has lately gained some negative publicity for her decision to take her brokerage firm public through a merger with a soon-to-be corporate shell, Siebert is respected by her peers in the financial industry for her diligence and professionalism and is admired by many for her philanthropic work. She has established three foundations, including one that gives away half of the underwriting fees her firm earns on the sale of new securities, and she has donated millions of dollars to help other women get their start in business and finance. Note: Muriel Siebert is president and donor of the Muriel F. Siebert Foundation (NY), which had assets of $216,096 and made grants totaling $21,833 in the year ending 12/31/93.
Wyatt, Edward. "Wall St.'s Top Woman Slips in the Back Door." New York Times 2/11/96, Section F, p. 1, 6, 7.
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Museum Exhibits Subject of Public Criticism of Atom Bombing
A spate of cancellations and quickly retailored exhibitions—on subjects as diverse as slave life on Southern plantations, the history of lynching, the dropping of the atomic bomb on Hiroshima, and the theories of Freud—has raised questions about how the Smithsonian, the Library of Congress, and, by implication, other cultural institutions go about their business. Exhibitions are being reformulated, repackaged, or simply dropped in response to complaints from staff members of the presenting institutions, members of the general public, and government representatives. Underlying much of the controversy are questions as to who should decide how history is to be presented and what function museums, particularly when funded with public money, should serve in a democratic society. Goldberger, Paul. "Historical Shows on Trial: Who Judges?" New York Times 2/11/96, Section 2, p. 1, 26.
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Lawyer Ordered to Repay Warhol Foundation $1.35 Million
The Appellate Division of the New York Supreme Court has ruled that attorney Edward W. Hayes was entitled to only $3.5 million for his work representing the estate of Andy Warhol. In so doing, the court overruled Surrogate Eve Preminger, who originally heard the case and awarded Hayes $7.2 million in April 1995. Because Hayes has already been paid $4.85 million, the appellate decision means he will have to return $1.35 million to the Andy Warhol Foundation for the Visual Arts, the Warhol estate's main beneficiary. Furthermore, the appellate judges said that Preminger should have recused herself from the case, as the foundation's lawyers twice requested, because Hayes had supported her campaign for office and the two had known each other for many years.
Because Hayes's fee was originally set at two percent of the value of the Warhol estate, which consists of vast holdings of art, much of the original controversy was over the exact monetary value of those holdings. The Court of Appeals decision did not dispute the estate's value in awarding Hayes his fee. Instead, it considered the job he performed, saying that Preminger's decision "would compensate him at an exorbitant hourly rate."
Note: The Andy Warhol Foundation for the Visual Arts (NY) had assets of $97,604,293 and made grants totaling $2,044,102 in the fiscal year ending 4/30/94.
Vogel, Carol. "Lawyer for Warhol Estate Must Repay $1.35 Million." New York Times 2/9/96, p. C3.
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Leatherby Family Gives $2.75 Million for Business Ethics Center
Russell Leatherby, the son of Unicare Financial Corporation founder Ralph Leatherby, has announced that he will devote two years to setting up the Center for Entrepreneurship and Business Ethics at Chapman University in Orange County, California. The center, which will be funded by $2.75 million in gifts from Ralph Leatherby and his wife Eleanor, will promote interaction between business students and entrepreneurs and will focus on real-life issues of ethical decision making. Note: Ralph Leatherby is president and a donor, Eleanor Leatherby is a donor, and Russell Leatherby is vice president of the Ralph and Eleanor Leatherby Foundation (CA), which had assets of $4,396,911 and made grants totaling $67,000 in the year ending 12/31/93.
Taylor, Cathy. "Father, Son Channel Wealth into Center for Business and Ethics." Orange County Register 2/8/96.
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AMWAY FOUNDATION SETS UP $11.5 FOUNDATION FOR SPORTS ARENA.
Jay Van Andel, one of the founders of the Amway Corporation, has given $11.5 million through his family foundation to build a new 12,000-seat sports arena in Grand Rapids, Michigan. The arena, which will be home to the Grand Rapids Griffins, a new minor-league hockey team, has been named in Van Andel's honor. Although some in Grand Rapids question whether Van Andel's contribution warrants the honor, a spokesman for Grand Action, the group of community leaders that raised much of the money for the arena, said Van Andel's support was crucial to the ultimate success of the project. Note: Jay Van Andel is president and a donor of the Jay and Betty Van Andel Foundation (MI), which had assets of $126,740,235 and made grants totaling $3,491,910 in the year ending 12/31/93.
Mote: Jay Van Andel is chairman of the Amway Environmental Foundation (MI), which had assets of $833,289 and made grants totaling $421,370 in the fiscal year ending 8/31/93.
"$11.5 Million Puts Name on New Arena." Seattle Times 2/4/96, p. D5.
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Paul McCartney Helps Open Performing Arts School in Liverpool
Former Beatle Paul McCartney returned to his hometown of Liverpool, England, to officially open a $23 million performing arts college he helped found at his old high school. McCartney has given more than $1.5 million to the school and plans to teach song writing there. "Liverpool School Opens with a Little Help from Friend." Tacoma News Tribune via World Wide Web 2/2/96.
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Travelers Foundation Gives Locally
The Travelers Foundation, which evolved from the foundations of Travelers Group's Travelers Insurance, Primerica, Smith Barney, and Commercial Credit, is giving more where workers live. In 1995, it gave some $5 million to worker-nominated agencies such as St. Nicholas Clinic in Paducah, Kentucky, and Elks Lodge No. 599 in Hattiesburg, Mississippi. Giving corporate money to communities where employees live is "a popular mode that is increasing," says Dee Topol, foundation president. She adds that since Travelers has branches all over the country, workers "can really look at the community and decide what to support." Note: The Travelers Foundation (NY) had assets of $10,837,720 and made grants totaling $9,206,248 in the year ending 12/31/94.
Business Bulletin. Wall Street Journal 2/1/96, p. A1.
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Texas Wesleyan University Receives $2.5 Million Gift
Texas Wesleyan University has received a $2.5 million gift, the third-largest cash donation in the institution's 106-year history. The gift, which came with no restrictions on its use, is rom the trust of Frank and Faye Roberts, longtime Fort Worth residents who had supported Texas Wesleyan since the 1950s. The trust donated another $2.5 million to Wofford College in Spartanburg, South Carolina. Teeter, Bill. "Wesleyan Receives Gift of $2.5 Million." Fort Worth Star-Telegram 1/31/96, p. 19.
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DeWitt Wallace-Reader's Digest Fund Gives $3.05 Million for Teacher Training
The DeWitt Wallace-Reader's Digest Fund, Inc., has pledged $3.05 million to the Philadelphia school district to help train teachers to do their jobs better. The grant money will be used to send teachers to workshops and seminars designed to move them from traditional lecture and blackboard teaching methods to more innovative approaches involving learning aids and teacher-student collaboration. The grant will be given directly to the Philadelphia Education Fund, a nonprofit organization that works with the school district to develop standards for student achievement and provide teacher training. Teachers participating in the program will receive training through Beaver College, the Franklin Institute, and the Philadelphia Writing Project at the University of Pennsylvania's graduate school of education. Note: The DeWitt Wallace-Reader's Digest Fund, Inc. (NY), had assets of $996,413,188 and made grants totaling $58,925,583 in the year ending 12/31/94.
Ousley, Yvette. "Schools Get $3 Million Grant Fund to Train 1,100 Teachers." Philadelphia Daily News via World Wide Web 2/27/96.
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Mayo Foundation Receives $127.9 Million Bequest
The Mayo Foundation for Medical Education and Research in Rochester, Minnesota, has received the largest gift in its history—$127.9 million from the estate of Barbara Woodward Lips of San Antonio, Texas. Lips, who died in March 1995, was a Mayo patient for more than 40 years and made many significant gifts to the Foundation during her lifetime. The bequest, which will be used to endow Mayo's programs in clinical innovation, medical research, and medical education, is particularly welcome at a time when traditional sources of funding for research and education at Mayo have been curtailed by changes in the financing of health care. "Mayo Receives Largest Gift in Its History." PR Newswire 2/23/96.
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Tax-Exempt Status of Nonprofits Challenged by Local Governments
Although tax-exempt status has been granted by law to certain nonprofits in New York and other states since colonial times, tax experts say there is growing pressure across the country to charge these nonprofit institutions a "core service fee" to make up for declining federal, state, and local aid. Especially on the East Coast, say experts, where older cities are often cash-starved but blessed with many educational, cultural, and religious institutions, the attraction of such proposals has been strong. " It has been a growing issue over the last three to five years, " said Janne G. Gallagher, a Washington lawyer who edits a newsletter on trends for the National Council of Nonprofit Associations. "There are...serious problems with using property tax as the primary source of municipal funds, and the movement to seek funds from nonprofits is a reflection of that problem."
Government officials in some states are either proposing or have already instituted the payment of fees by nonprofit organizations for such basic services as road maintenance and police protection. Critics say the levying of such fees will simply force cash-strapped institutions to turn to the public for additional financial help.
Glaberson, William. "In Era of Fiscal Damage Control, Cities Fight Idea of 'Tax Exempt.'" New York Times 2/21/96, p. A1, B5.
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New Grant Procedures at the National Endowment for the Arts Spark Controversy
Budget cuts have forced changes in the grant application process at the National Endowment for the Arts, causing confusion and some anger among artists and officials of arts organizations. Congress cut the arts endowment's budget in 1995 by almost 40 percent, from $162 million to $99.5 million, which in turn forced the NEA to lay off 90 of its 238 staff members. Endowment officials say reorganization was inevitable in the face of such drastic cuts and that the new procedures— denounced by some in the arts community as too restrictive—only reflect the realities of downsizing. Changes in the application process include the collapsing of 17 grant programs into four broad categories, the elimination of " seasonal" funding, limiting each candidate to a single application, and severe limitations on the availability of grants to individuals. Miller, Judith. "Artists and Arts Groups Angered by New Rules for Federal Grants." New York Times 2/20/96, p. A1, C18.
See also: Marquis, Alice Goldfarb. "The N.E.A. Plays to an Empty House." Op-ed. New York Times 2/24/96, p. 21.
See also: "Art, Anger and Anxiety." Op-ed. New York Times 2/26/96, p. A12.
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Utah Universities Set Fundraising Records
More than $100 million—a record amount—was donated to Utah's nine colleges and universities in 1994-95, with 65 percent of the total going to the University of Utah. The university received $63.6 million in donations during the 1994-95 school year, while its endowment, buoyed by a soaring stock market, reached an all-time high of $128.8 million. Utah State University also had a successful 1995, raising $10.7 million in gifts during the year, an increase of $3 million over the previous year. And Weber State University broke its fundraising record, established in 1991-92, by $30,000, raising nearly $4.2 million during the year.
"Higher-Ed Donations Exceed $100 Million." Salt Lake Tribune 2/21/96, p. B2.
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Blue Cross of California and WellPoint Health Networks, Inc., Recapitalization Agreement Will Create Two New Foundations
WellPoint Health Networks, Inc., one of the nation's largest publicly traded managed care companies, has announced that it entered into a definitive agreement with its principal stockholder, Blue Cross of California (BCC), for a proposed recapitalization of WellPoint in connection with BCC's proposal to contribute all of its assets to two new charitable foundations. BCC and WellPoint have asked the California Department of Corporations for approval of the transaction.
"WellPoint Enters into Recapitalization Agreement with Principal Stockholder." Business Wire via IntellX 2/20/96.
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James Michener Donates $5.5 Million to Hometown Institutions
Novelist James A. Michener has pledged $5.5 million to three cultural institutions in Doylestown, Pennsylvania, the town where he grew up. Through the Michener Marital Trust, which he established with his late wife Mari, Michener has pledged $3.5 million to the endowment of the James A. Michener Art Museum, to which he had previously donated $2.5 million. The Mercer Museum and the Bucks County Free Library, both of which Michener credits with stirring his imagination as a youngster, will each receive $1 million. The best-selling author has donated more than $100 million dollars to libraries, universities, and museums over the course of his 40-year career and was named the National Society of Fund Raising Executives' Outstanding Philanthropist for 1996.
Note: James A. Michener is donor to the Copernicus Society of America (PA), which had assets of $7,044,013 and made grants totaling $244,478 in the fiscal year ending 6/30/93.
Gold, Russell. "Michener Sends More Money Home." Philadelphia Inquirer 2/9/96, p. A1, A17.
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Robert Wood Johnson Foundation Gives $1 Million for Native American Health Project
A partnership of ten Native American agencies in the San Francisco Bay Area has been awarded a $1 million grant from the Robert Wood Johnson Foundation to improve the health of Native American people and to alleviate problems caused by drugs and alcohol. Laughing Coyote, project manager for the Bay Area Healthy Nations Circle of Strength Project, said the grant will finance programs using traditional approaches such as ceremonial sweats, elders' councils, and talking circles. "Indian life is deeply spiritual and it comes down to teaching our young people a new way of life not to just survive in the world but to succeed."
The Robert Wood Johnson Foundation, based in New Jersey, is the nation's largest philanthropic agency devoted to health care issues.
Note: The Robert Wood Johnson Foundation (NJ) had assets of $3,754,153,612 and made grants totaling $135,861,955 in the year ending 12/31/94.
"Health Grant for American Indian Groups." San Francisco Chronicle 2/5/96, p. A12.
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Rhoda Haas Goldman, of the Richard and Rhoda Goldman Fund, Obituary
Rhoda Haas Goldman, a prominent San Francisco philanthropist, is dead at 71. A great-grandniece of entrepreneur Levi Strauss, Goldman was a board member of Levi Strauss & Co. and a director of the Levi Strauss Foundation. In 1990, she and her husband Richard founded the Richard and Rhoda Goldman Fund, which has awarded more than $25 million in grants to organizations working to help the environment, youth, and the elderly. The couple also established the Goldman Environmental Prize, which annually awards $75,000 to each of six individuals for their efforts on behalf of the environment. In 1989, Goldman and her two brothers, Peter and the late Walter Haas Jr., contributed $15 million to the University of California at Berkeley, the largest personal donation in the school's history, for the School of Business Administration, named for their father, Walter A. Haas. Goldman was also president of San Francisco's Congregation Emanu-El from 1991 to 1993 and was vice president of the San Francisco Symphony from 1991 until her death.
Active in the battle against breast cancer, Goldman co-founded the San Francisco chapter of the Reach to Recovery Program. She was, in addition, a director of Mount Zion Health Systems, a past president of the Mount Zion Hospital and Medical Center, and chairwoman of the San Francisco Foundation Distribution Committee.
Note: Rhoda Haas Goldman was president and a trustee of the Walter and Elise Haas Fund (CA), which had assets of $139,837,705 and made grants totaling $9,555,231 in the year ending 12/31/94.
Note: Rhoda Haas Goldman was a director of the Levi Strauss Foundation (CA), which had assets of $59,700,000 and made grants totaling 9,002,010 in the year ending 12/31/94.
Note: Rhoda Haas Goldman was secretary-treasurer and donor of the Richard and Rhoda Goldman Fund (CA), which had assets of $139,775,638 and made grants totaling $7,304,284 in the year ending 12/31/94.
Note: Rhoda Haas Goldman was secretary-treasurer and donor of the Goldman Environmental Foundation (CA), which had assets of $775,672 and made grants totaling $428,000 in the year ending 12/31/94.
Note: Rhoda Haas Goldman was donor to The Morningstar Foundation (MD), which had assets of $174,413 and made grants totaling $229,352 in the year ending 12/31/93.
Oliver, Myrna. "Rhoda Goldman; Environmental Philanthropist." Los Angeles Times 2/21/96, p.A12.
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Carolyn Van Vleck Pratt, of The Howard A. Van Vleck Foundation, Inc., Death Notice
Note: Carolyn Van Vleck Pratt was president and a trustee of The Howard A. Van Vleck Foundation, Inc. (NJ), which had assets of $39,556 and made grants totaling $1,584,000 in the year ending 12/31/93. New York Times 2/27/96, p. B7.
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Carl Shirley, of The Jockey Hollow Foundation, Inc., Death Notice
Note: Carl Shirley was vice president and donor of The Jockey Hollow Foundation, Inc. (NJ), which had assets of $11,748,470 and made grants totaling $823,409 in the fiscal year ending 3/31/94. New York Times 2/27/96, p. B7.
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William Philler Wood, of The Grundy Foundation and The Louis L. Stott Foundation, Death Notice
Note: William Philler Wood was a trustee of The Grundy Foundation (PA), which had assets of $43,801,305 and made grants totaling $714,220 in the year ending 12/31/94.
Note: William Philler Wood was secretary and a trustee of The Louis L. Stott Foundation (PA), which had assets of $2,614,747 and made grants totaling $275,000 in the fiscal year ending 9/30/95.
New York Times 2/26/96, p. B10.
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