Thursday, January 8, 2009

Help for Charities Hit by Madoff Ponzi Scheme

The Washington Post reports that a number of large donors are stepping up to help charities caught in the wake of the Madoff scheme, including ones hurt indirectly when long-time supporters lost money.  For example, while Human Rights Watch did not invest with Madoff, it received significant support from the JEHT Foundation that was in turn supported by the Betty and Norman F. Levy Foundation, which did invest with Madoff.  The JEHT Foundation has announced it will close its doors at the end of this month because it received apparently all of its support from donors who invested with Madoff.  The funders providing relief include The Atlantic Philanthropies, MoveOn.org, and the Open Society Institute.

LHM

http://lawprofessors.typepad.com/nonprofit/2009/01/help-for-charit.html

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