 Headlines
Foundations Boost Funding for Study of Religion
Lilly Endowment Awards Grants to Explore Role of Faith
in Career
Gay Rights Advocates Express Concern Over Case Donation
to School
RealNetworks Creates Charitable Foundation
Digital Divide Volunteer Groups Grow in Popularity
Gates Says Access to Technology Not Priority for
World's Poorest
Computer Game Puts Philanthropic Skills to the Test
San Francisco's Arts Community Sees Both Sides of Boom
Economy
Boston Housing Fund Helps Poor Residents Cope With
Rising Rents
Corporate Mergers Have Nonprofits Concerned Over
Funding Cuts
Horizon Foundation Focuses on Community Health
Correction in Generosity Index Moves Minnesota From
41st to 15th Place • • • • • • |
PHILANTHROPY NEWS DIGEST
The proposed merger of oil giants Chevron and Texaco could
mean less funding for New York cultural causes and for a
range of nonprofits worldwide, the New York Post reports.
According to the Post, the companies plan to slash $1
billion in costs as part of the merger, and charitable
contributions could be cut in the effort. While Chevron
does much of its funding in California and Texaco focuses
on the East Coast, charities in more than 100 countries
around the world rely on the two companies for
contributions to a range of causes. A spokesman for
Chevron said that community involvement would remain a
"high priority" for the merged company.
In Minnesota, charitable leaders are expressing concern
over the merger of Honeywell International and General
Electric Co. As part of the deal with GE, Honeywell
chairman and chief executive officer Michael Bonsignore
will become a member of the GE board of directors. The
Minneapolis-St. Paul Star Tribune reports that many
nonprofit leaders in the state link the company's strong
support for local charitable causes to the involvement of
Bonsignore and are concerned by his re-assignment. For the
time being, Honeywell executives have said that the
company will match in 2000 the amount it contributed to
state organizations in 1999, roughly $7.1. million.
Tharp, Paul. "Charities May Lose Key Source of Funds." New
York Post 10/17/2000.
"GE Acquisition of Honeywell Leaves Minnesota Jobs,
Charitable Contributions Uncertain." Minneapolis-St. Paul
Star Tribune 10/23/2000.
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