Stories

The IRE Resource Center is a major research library containing more than 27,000 investigative stories.

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Search results for "endowment" ...

  • For DePauw University, A $128 Million Bequest Proves a Mixed Blessing

    "When Philip Holton died in 1995, followed two years later by his wife, Ruth, they left $128 million to little DePauw University here in the flatlands of central Indiana. . . but good fortune can be expensive". Now DePauw is finding new costs, including a staff to manage the money, in addition to deciding how to divide it among its academic departments. While the contribution has helped the school fulfill ambitions, it has also weighed down the system with new problems. June Kronholz reports more.
  • Warehouses of wealth: The tax-free economy

    "Nonprofit businesses are American's fastest growing industry. Yet the government doesn't keep track. There are 1.2 million organizations tax-exempt as a nonprofit, including many surprisingly profitable ones. Like the NFL. ...[ The reporters] determined the magnitude and cost of these tax-exempt businesses, which made $500 billion in 1990 -- nearly six times the incomes of farms of five times that of utilities...Taxpayers make up for what these businesses don't pay -- more than $36 billion a year, by the reporters' calculations. What do taxpayers get in return? Damned little charity." Seven-part series includes: big profits, big salaries, growing commercialism of nonprofit hospitals, universities, museums and other institutions.
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    Harrisburg (Pa.) Patriot-News runs an in-depth profile of the Milton Hershey School, started by the chocolate czar in the early 1990's to help needy children; finds a $2.9 billion endowment controlled by a highly secretive board with numerous conflict of interest issues.
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    Chronicle of Higher Education examines the leadership of Lynne V. Cheney as chairperson of the National Endowment for the Humanities, and looks at the manner in which the endowment has awarded grants under her leadership; finds that the endowment spends a disproportionate amount of money on public relations, April 22 and Nov. 4, 1992.
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    Virginia Business reports on the Virginia Environmental Endowment, which was set up as a result of a court case against Allied Chemical Corp. for dumping Kepone-tainted waste into the James River; the fund has worked to protect the state's environment by working with federal and state entities as well as industry, June 1990.
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    Village Voice (New York) reports that National Endowment for the Arts chair John Frohnmayer was forced to resign not only because of GOP presidential hopeful Pat Buchanan's attacks on George Bush, but also as a result of an orchestrated campaign by the office of Dan Quayle and White House chief of staff John Sununu; gives an account of the chair's embattled and short tenure at the NEA, March 10, 1992.
  • Shaping a City The Lily Legacy

    Indianapolis News chronicles the success of Lilly Endowment Inc., a private foundation set up by Eli Lilly to fund bricks and mortar projects for the city.
  • The Politics of Art

    Boston Globe Magazine contemplates the embattled National Endowment for the Arts after the bitter collision between Congressman Jesse Helms and the work of Robert Mapplethorpe, Dec. 24, 1989.
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    Indianapolis News explores conflicts of interest among the directors of the Lilly Endowment, the Indianapolis foundation that is the fifth largest in the country; using tax returns and the foundation's reports, the stories show how the directors set the development agenda and benefited financially in the process, Nov. 13 - 20, 1989.
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    The Nation investigates the National Endowment for Democracy's funding of the Center for Democracy; discovers the Center runs intelligence-gathering programs and is endangering Soviet dissidents, March 19, 1988.