April 24, 2009
<span style='font-size:14pt;line-height:100%'>Foundation of The Times Suspends Gift Program</span>
By <a href='http://topics.nytimes.com/top/reference ... ne=nyt-per' target='_blank'>STEPHANIE STROM</a>
The New York Times Company Foundation announced on Thursday that it was suspending grant-making and the company’s matching gift program.
“The economy and the secular changes in our industry are causing everyone to rigorously manage costs, and unfortunately, this is a difficult but necessary step,” said Michael Golden, vice chairman of the company and a board member of the foundation.
The announcement came two days after the company said it had lost $74.5 million in the first quarter of 2009.
Together with its subsidiary, the <a href='http://topics.nytimes.com/top/reference ... ne=nyt-org' target='_blank'>Boston Globe</a> Foundation, the Times Company Foundation made roughly $7 million in grants last year to programs dedicated to journalism, education, culture, the environment and public service.
The Times College Scholarship program will continue, though in a smaller format, and all students currently in the program as well as those in the Globe Scholars program will continue as normal. The New York Times <a href='http://topics.nytimes.com/top/news/newy ... ne=nyt-org' target='_blank'>Neediest Cases</a> campaign and the Globe Santa program will not be affected by the changes. The Times joins dozens of other corporations that have shrunk or eliminated their giving and matching gift programs over the last year.
Jack Rosenthal, the foundation’s president, will continue through the expiration of his contract at the end of the year. “It’s a shame that we lose the leadership position we have achieved,” Mr. Rosenthal said. “On the other hand, it would be pretty inconceivable for The Times to be giving money away when it is cutting costs.”
The Times Company Foundation used its grants to try to attract much larger public financing for various initiatives.
A fund it created with $1 million to pay for medical treatment for needy families raised an additional $5 million from other donors and has provided treatment to date for some 1,200 families, while a pilot program to use art to enhance learning, currently operating in two New York City schools, attracted $937,000 from the federal Department of Education.
“This is really tragic,” Jeanne B. Mullgrav, commissioner of the New York City Department of Youth and Community Development, wrote in an e-mail message to Mr. Rosenthal. “You and your organization have been such a great partner to the city, the nonprofit sector and to the communities who need support.”
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ref links
<a href='http://www.npo.org.tw/philNews/Layout.asp?NEWSID=2720' target='_blank'>台湾公益资讯中心：纽约时报基金会帮助高中生发行校园电子报</a>
<a href='http://www.nytimes.com/learning/general ... /weblines/' target='_blank'>http://www.nytimes.com/learning/general ... blines/</a>
<a href='http://www.informationweek.com/blog/mai ... at_ri.html' target='_blank'>Wikipedia At Risk From Financial Meltdown?</a>
source: <a href='http://www.nytimes.com/2009/04/24/nyreg ... nted=print' target='_blank'>http://www.nytimes.com/2009/04/24/nyreg ... d=print</a>
thinking points
1. donation viewed as gift, cost, or investment?
2. if philanthropy, activities such as donation, gift programs, public initiatives support is indispensable in prosperous as well as in difficult times, who would be the beneficiaries in a macro-landscape?
3. how can NYTF maintain its investment in such a condition without loosing its leadership position?