Nonprofit News and Comment

EDUCATION

PUBLIC SCHOOLS

“School reform gets private boost.” By Esther Zuckerman. Yale Daily News. October 23, 2009. The donor dollars for Mayor John DeStefano Jr.’s expansive school reform plans are starting to flow. Fifteen local private businesses and institutions have donated $103,500 to get the school reform organization The New Teacher Project to improve New Haven public schools. The money — which is a combination of the funds raised by the 15 businesses, as well as a matching contributing by The New Teacher Project — will be handled by the Community Foundation for Greater New Haven, which will work with school officials to implement The New Teacher Project’s reforms.

CHARTER SCHOOLS

“Boston pilot school wins $100,000.” By Stewart Bishop. Boston Globe. October 23, 2009. A Boston pilot school has won $100,000 for its dramatic improvement in academic performance, school officials said. The Boston Community Leadership Academy beat out three other finalists for the Thomas W. Payzant Prize, presented by EdVesters, a local nonprofit organization that seeks to promote change in urban schools through private investment, said Bryan Spence, EdVestor’s director of philanthropic services. Formally Boston High School, the academy became one of Boston’s first pilot schools in 2002. Pilot schools are independently governed, and teachers are exempt from typical union contract work rules. The schools are subject to state and federal laws but are exempt from district policies and mandates.

HIGHER EDUCATION

“University Pays $500 Million To Cut Losses.” By Peter F. Zhu. Harvard Crimson. October 19, 2009. Harvard’s decision to use derivative investments to lock in low interest rates on the school’s mounting debt cost the University $500 million this past year and will cost it at least $425 million more over the next few decades.

“Alumni Call for Lower Pay for Harvard Endowment Managers; Say endowment growth should be reduced to a more sustainable rate.” By Peter F. Zhu. Harvard Crimson. October 21, 2009. A small group of alumni from the Harvard Class of 1969 renewed its criticism of compensation paid to University endowment managers in a letter sent to President Drew G. Faust, citing the nearly 30 percent investment loss sustained this past year. “This unprecedented loss is treated as a rather small blip on a generally upward curve, giving us little confidence that Harvard is addressing the scope and nature of the current problems,” the nine alumni wrote. They said that the University’s annual financial report, which was released on Friday, “fail[ed] to acknowledge any fundamental mistakes or to suggest any major changes in the way the endowment is managed.”

“University plans targeted cuts.” By Vivian Yee. Yale Daily News. October 23, 2009. Some Yale departments will shed entire programs and projects due to budget cuts this year, not just trim as they have been doing since last year.
Instead of asking all departments to reduce costs in equal proportion, the University is now targeting some specific units for deeper reductions than others, administrators said. The University’s new strategy for cutting costs on the heels of after two rounds of across-the-board cuts designed to help close a $150 million gap in the operating budget caused by the endowment’s 24.6 percent tumble.

“UC announces ambitious fundraising campaign.” No by-line. Los Angeles Times. October 23, 2009. As the University of California seeks to sharply increase student fees, its president, Mark G. Yudof, today announced plans to soften the impact with an ambitious campaign to raise $1 billion for financial aid and a policy change widening the aid eligibility for more middle-income families.
The 10 UC campuses have committed to raise the $1 billion in private funds for student aid over the next four years, Yudof said. That would be double the amount the system garnered for that purpose over the last five years.

EDUCATION

PRIVATE SCHOOLS

“A Slow March to Change; VMI Is Steeped in Traditions Dating to 1839. Until 1997, Female Cadets Weren’t Part of Them.” By Daniel de Vise. Washington Post. October 15, 2009. VMI was the last all-male public college in the nation when, in 1997, it began admitting women at the demand of the U.S. Supreme Court. But what has followed is unexpected academic progress. Admission decisions are more selective than a decade ago. SAT scores are up. A rejuvenated faculty is building a national reputation for undergraduate research. However, cultural shifts have proved more difficult.

PUBLIC SCHOOLS

“Schools Pay When Rhee Snubs Donors.” Washington Post. By Robert McCartney. October 15, 2009. D.C. Schools Chancellor Michelle Rhee says a $12 million budget cut just forced her to lay off nearly 400 teachers and other staff. But local philanthropy groups say they would have given her that money, and more, if she’d cooperate better with them.

CHARTER SCHOOLS

“The Charter Barter: On education — and every other social policy issue — the Obama administration must play referee among competing experts. Is it up to the task?” By Dana Goldstein. American Prospect. October 13, 2009.” The White House and Education Secretary Arne Duncan are infatuated with experimental, privately managed public schools, and certain charters. Although charters currently educate less than 5 percent of American schoolchildren, the Obama administration, which has vowed to raise that number. is committing over $5 billion in stimulus funds to states and local school districts that agree to lift caps on the number of charter schools allowed to open in a year. But education-policy experts are divided over whether charters, as a group, improve academic achievement.

HIGHER EDUCATION

“Harvard’s Bet on Interest Rate Rise Cost $500 Million to Exit.” By John Lauerman and Michael McDonald. Bloomberg.com. October 17, 2009. Harvard University’s failed bet that interest rates would rise cost the world’s richest school at least $500 million in payments to escape derivatives that backfired.
Related story:
“Harvard admits to $1.8b gaffe in cash holdings; Operating funds were lost to stock, hedge fund trades.” Boston Globe. October 17, 2009.