Philanthropy

1. US philanthropy suffers biggest fall in 50 years

   The amount of money being donated to charitable endeavours by philanthropists in the US has suffered its sharpest fall in over half a century as the global recession forces donors to tighten their purse strings – but “it could have been a lot worse”, according to a new report.

2. Ark gala fundraiser beats dampened expectations

   Hedge fund managers and professionals in the UK financial community answered calls from actress Uma Thurman and London mayor Boris Johnson to dig deep into their wallets at last night’s gala dinner for children’s charity Ark despite the economic downturn. The event raised £15.6m (€17.7m), down from the previous year but ahead of Ark’s £10m target.

3. Recession hits Gates Foundation

   The charitable foundation launched by Bill Gates, the world's richest man, has lost around $10bn, or nearly a quarter of its assets due to stock market losses and shrinking donations from Gates and his wife Melinda.

4. Private banks persue philanthropy to assuage clients

   With many wealthy individuals nursing losses on their investment portfolios it might seem an inappropriate time to raise the idea of giving away money.

5. UK private bank reports healthy philanthropic commitments from clients

   UK philanthropists are giving just as much, or even more, during the recession, according to a survey by Coutts of more than 100 of its clients. The survey found that nearly 90% of clients are planning to maintain or increare donation levels this year.

6. Children of wealthy parents miss out on inheritance

   The growing interest in philanthropy among Britain's rich will mean children of wealthy parents can expect to enjoy less of their inheritance, according to new research.

7. Rich Feel Guilty About Giving to Charity

   It is one thing to feel guilty about buying a $5,000 handbag these days. But are the rich also feeling guilty about giving to charity?

8. NPC report critical of management at UK charities

   A report looking into management boards of charities has highlighted a host of problems with the recruitment , management and directorship of charities' boards and trustees.

9. Caudwell charity ball raises record £1.7m

   Despite the global economic slowdown, a children's charity founded by UK billionaire John Caudwell raised a record £1.7m last night .

10. Hedge fund charity falls again

    The extent to which the financial crisis has taken its toll on altruism was highlighted last night when the Robin Hood Foundation, the hedge fund industry's best-known charity, took $45m (€33m) in ordinary donations at its annual gala dinner last night, a drop on the previous year's takings for the second year in a row.