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CNN —Florida A&M University is putting a purported $237.75 million donation “on pause,” after media reports and college board leaders raised concerns about the actual value of the stock gift—and the details surrounding the donor’s previous donations. South Carolina’s Coastal Carolina University had announced a $95 million donation from an anonymous donor, who then backed out months later. At an emergency board meeting on Thursday, FAMU board of trustee and foundation members expressed their concerns and frustration about the school’s vetting process involving Gerami’s donation. He referred questions to the university and agreed to answer CNN’s questions on the following day, but he couldn’t be reached. FAMU’s Special Board of Trustees, which oversees the full school and the foundation, has scheduled a meeting for May 15 to discuss the donation.

Persons: ”, Larry Robinson, It’s, Gregory Gerami, Robinson, Gerami, Deveron Gibbons, ” Gibbons, “, Gibbons, Kristin Harper, ” Harper, FAMU, Stroud, Terry Arnold Organizations: CNN, Florida, M University, Batterson Farms Corp, Politico, Carolina’s Coastal Carolina University, Myrtle Beach Sun News, FAMU Foundation, university’s, Trustees, Foundation Board, University Advancement Shawnta, FAMU Locations: Texas, Carolina’s, Florida

☆ After the Sudden Heralding of Hilma af Klint, Questions and Court Fights
▼ + stars: | 2023-08-28 | by ( Zachary Small | More About Zachary Small | ) www.nytimes.com time to read: +2 min

In a lawsuit filed in April, Erik af Klint, the great-grandnephew of the artist and the Hilma af Klint Foundation’s chairman, said that business agreements have been struck without the approval of the foundation board and without his knowledge. The suit accuses board members of collaborating with its chief executive, Jessica Höglund, on deals to produce NFTs, books about af Klint and an immersive experience that would benefit them, not the foundation. The suit also asserts that publishing profits associated with af Klint have increased tenfold, from an estimated $350,000 in 2018 to $3.5 million in 2021, but that the revenue has gone to a foundation run by Almqvist, the scholar, rather than the Af Klint Foundation. “They are trying to gain a profit from people’s search for inner meaning,” Erik af Klint said about the board members in an interview. “As to my alleged dismissal,” Höglund said in a statement, “Erik af Klint has not been authorized to dismiss me.”Three board members have resigned in response to the infighting with the family.

Persons: Erik af Klint, Klint Foundation’s, Jessica Höglund, ” Erik af Klint, Höglund, ” Höglund, “ Erik af Klint, Almqvist, Hilma, Ax:son Johnson Organizations: Almqvist, Af Klint Foundation, Ax:son Johnson Foundation

☆ David Rubenstein says there's only one solution to US debt: inflation
▼ + stars: | 2023-07-20 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

The US won't cut spending, raise taxes much, seek a bailout, or default on its debt, David Rubenstein said. "We aren't going to cut expenses in the government. We aren't going to go to a bailout with the IMF, that's not realistic. As a solution, Rubenstein encouraged young people to get more involved in leadership positions, whether in politics or the corporate world. "I think that their concerns are not reflected very often in board meetings, corporate boards or foundation boards, nonprofit boards and so forth," he said.

Persons: David Rubenstein, Rubenstein, that's, we're, Carlyle Group's Organizations: Bloomberg, Service, IMF, Federal Reserve Locations: Wall, Silicon

☆ How to join a board of directors
▼ + stars: | 2023-05-18 | by ( Chris Taylor | ) www.reuters.com time to read: +4 min

NEW YORK, May 18 (Reuters) - When Hayley Woodin was thinking of giving back to the community while taking her career to the next level, one option stood out: serving on a board of directors. The Catch-22 is that companies want directors with board experience to fill board seats. Before you reach that stage, you will likely start on a volunteer board, as Hayley Woodin did. To find such opportunities, "often local boards of trade will host events designed to pair those looking for board experience, with organizations looking for board members," Woodin said. "If an organization is looking to bring someone onto their board, what is the first thing they are going to do?

☆ Foundation empties coffers to fund Black paper in Baltimore
▼ + stars: | 2023-01-19 | by ( The Associated Press | ) www.nbcnews.com time to read: +8 min

She and Brandon Soderberg, a former Baltimore City paper editor, had tried to launch a new paper, the Baltimore Beat, but the publishing company that supported it pulled the plug. Decades ago, the Holofceners left Baltimore for the suburbs, like thousands of other white families, leaving the city with a depleted tax base. The large grant is an attempt to counter the idea that “any giving is good giving,” Holofcener says. “There’s a real opportunity for us to engage.”The problem was that none of the cousins actually had any say over how the family foundation doled out money. Instead, the pause gave the paper and the family time to thoroughly nail down their plans.

☆ Minnesota Timberwolves guard Anthony Edwards fined $40,000 for anti-gay video
▼ + stars: | 2022-09-21 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Dennis-Romero-Circle-Byline-Template.Jpg | Dennis Romero | ) www.nbcnews.com time to read: +2 min

The NBA has fined Minnesota Timberwolves guard Anthony Edwards $40,000 for making anti-LGBTQ remarks in a video on his Instagram account. The video, apparently from the weekend of Sept. 10, was posted to his Instagram account but soon deleted. The NBA on Tuesday called Edwards' language "offensive and derogatory." In 2011, the Chicago Bulls’ Joakim Noah was fined a similar amount for hurling an anti-gay slur at a fan. “We are disappointed in the language and actions Anthony Edwards displayed on social media,” the team’s president of basketball operations, Tim Connelly, said in a statement.

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