MONEY – Page 3

Thinking Like An Entrepreneur – Entrepreneurship Classes Aren’t Just For Business Majors

19Nov

By THEIRL1ADMIN01No Comments

MONEY

Thinking Like An Entrepreneur – Entrepreneurship Classes Aren’t Just For Business Majors

Lisa Bosman, Purdue University and Stephanie A. Fernhaber, Butler University Colleges are returning to normal operations, and many have begun to offer in-person classes once again. But are they prepared to teach students how to navigate post-pandemic life? Or how to get a job in an economy fundamentally changed by COVID-19? As professors of engineering and entrepreneurship, and authors of a new book on teaching entrepreneurial thinking to college students, we have studied how entrepreneurial skills can improve students’ confidence, creativity, critical thinking, collaboration and communication. Such curriculum is a staple in business schools, especially for students who want to start a company. But it has the potential to benefit all students – including majors in engineering, agricultu...

Few Groups Supported By Foundations Are Given Decision-Making Power On Funding Priorities

8Nov

By THEIRL1ADMIN01No Comments

MONEY

Few Groups Supported By Foundations Are Given Decision-Making Power On Funding Priorities

Emily Finchum-Mason, University of Washington The Research Brief is a short take about interesting academic work. The big idea Eighty-three percent of large U.S. foundations seek input from some of the nonprofits they fund – along with other people, organizations or communities directly affected by their funding. But foundations, which aim to serve the public interest through the money they give away, rarely give these stakeholders decision-making authority – by either letting them help set priorities or giving them a say about where grant money flows. That is what philanthropy scholars Kelly Husted, David Suarez and I found in a study that assessed the practices of the 500 largest U.S. foundations. Our findings suggest that foundations, which face mounting pressure to direct more grants...

Investors Selectively Forget Their Money-Losing Stocks – They Often Have A Biased Memory – Why Are They So Cocky?

2Nov

By THEIRL1ADMIN01No Comments

MONEY

Investors Selectively Forget Their Money-Losing Stocks – They Often Have A Biased Memory – Why Are They So Cocky?

Philip Fernbach, University of Colorado Boulder and Daniel Walters, INSEAD The Research Brief is a short take about interesting academic work. The big idea Stock investors mistakenly remember their past investments as better than they actually were, which leads them to be overconfident about how they’ll perform in the future, according to our new study. Past research has shown that investors tend to be very overconfident. But there’s been little explanation as to why. We wondered whether a biased memory might play a role. So we recruited about 900 investors – mostly men, who dominate the finance industry – through online forums and panels and conducted three studies. In the first, we asked 401 investors a series of questions intended to estimate their level of overconfidence, glean the...

Melinda French Gates And MacKenzie Scott To Fund Women’s And Girls’ Causes – 3 Takeaways

25Apr

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MONEY, WOMENS ISSUES

Melinda French Gates And MacKenzie Scott To Fund Women’s And Girls’ Causes – 3 Takeaways

Tessa Skidmore, IUPUI and Jacqueline Ackerman, IUPUI Melinda French Gates and MacKenzie Scott, two of the biggest U.S. donors, have joined forces by funding the Equality Can’t Wait Challenge. The contest, intended to expand the power and influence of women in the United States by 2030, garnered more than 550 proposals. On July 29, 2021, French Gates and Scott announced the winners: Four initiatives will each receive US$10 million, and two more will get $4 million apiece. In addition to the women formerly married to Microsoft co-founder Bill Gates and Amazon founder Jeff Bezos, Charles and Lynn Schusterman Family Philanthropies is providing some of these funds. It marks the first official donor collaboration between French Gates and Scott. The money will help boost support for caregivers...

As States Weigh Human Lives Versus The Economy, History Suggests The Economy Often Wins

31Jul

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MONEY

As States Weigh Human Lives Versus The Economy, History Suggests The Economy Often Wins

Policymakers are beginning to decide how to reopen the American economy. Until now, they’ve largely prioritized human health: Restrictions in all but a handful of states remain in effect, and trillions have been committed to help shuttered businesses and those who have been furloughed or laid off. The right time to start opening up sectors of the economy has been up for debate. But history shows that in the wake of calamities, human life often loses out to economic imperatives. As a historian of early America who has written about tobacco and the aftermath of an epidemic in New England, I’ve seen similar considerations made in the face of disease outbreaks. And I believe that there are crucial lessons to be drawn from two 17th-century outbreaks during which economic interests of a select...

Two Philanthropy Experts Explain – What Is Unrestricted Funding?

26Jul

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MONEY

Two Philanthropy Experts Explain – What Is Unrestricted Funding?

Genevieve Shaker, IUPUI and Pamala Wiepking, IUPUI Unrestricted funds are grants or donations nonprofits get to spend any way they believe is appropriate to further their mission. Unrestricted funding can also come with some limitations. Donors might, for example, designate the money for operating expenses like rent or to help strengthen the organization through support for leadership development. However, only about 20% of U.S. funding for nonprofits has any degree of flexibility, the Center for Effective Philanthropy has estimated. More often, nonprofits get money for a specific project in exchange for agreeing to several conditions and a specific timeframe. For example, someone might give a museum or a hospital US$20 million to spend building a new wing within three years. Starting...

MacKenzie Scott’s $8.5 Billion Commitment To Social And Economic Justice Is A Model For Other Donors In 5 Ways

16Jun

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MONEY

MacKenzie Scott’s $8.5 Billion Commitment To Social And Economic Justice Is A Model For Other Donors In 5 Ways

Elizabeth J. Dale, Seattle University The author and philanthropist MacKenzie Scott announced on June 15, 2021, that she and her husband Dan Jewett had given US$2.7 billion to 286 organizations, including universities, arts organizations and other nonprofits. It was her third announcement of this kind since she first publicly discussed her giving intentions in May 2019. Scott has donated about $8.5 billion to a constellation of nonprofits she calls “high-impact organizations in categories and communities that have been historically underfunded and overlooked.” She’s emphasizing racial justice, women’s rights and LGBTQ equality. The $5.8 billion Scott gave to charity in 2020 amounted to nearly 2% of the $324 billion donated by individuals over the course of the year. In early 2021, she ...

Giving Back Money That Doesn’t Belong To You – What Are The Ethics?

4Apr

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Journalism, MONEY

Giving Back Money That Doesn’t Belong To You – What Are The Ethics?

In Monopoly, a player who draws the card that says “BANK ERROR IN YOUR FAVOR. COLLECT $200” gets to keep the money. But what happens when such a mistake occurs in real life? Kelyn Spadoni, a 911 dispatcher, recently received quite a bit more than the US$80 she was expecting when financial brokerage firm Charles Schwab mistakenly transferred more than $1.2 million to her account, apparently because of a software glitch. When she discovered the extra money, she promptly transferred those funds to her other accounts and bought a new car and house, among other purchases. One could ask whether it was unethical for her to keep the money instead of trying to return it. As a scholar who studies the ethics of debt and finance, I believe the answer is more complex than a simple “yes” or “no.” Y...

The Women’s Recession Isn’t Over — Especially For Moms

5May

By THEIRL1ADMIN01No Comments

MONEY

The Women’s Recession Isn’t Over — Especially For Moms

One year since the start of the women’s recession, hundreds of thousands of moms have been forced to leave their jobs — and grapple with the consequences. Chabeli Carrazana Originally published by The 19th It struck her one morning last July, when an email arrived from her son’s day care. In a flash of clarity, Emily Way knew her time in the workforce was about to end. The day care that their 2-year-old, Owen, attended was reopening in August, the email read, and families needed to start paying again if they wanted to save a spot. Way was seven months pregnant and on the cusp of unpaid maternity leave. She knew she and her husband couldn’t afford to send Owen back while she wasn’t getting a paycheck. Even if he did go back, what about the virus? Someone needed to care for both kids f...

It’s Becoming Less Common – But Most Couples Still Make Decisions Together When They Give Money To Charity

19Mar

By THEIRL1ADMIN01No Comments

MONEY

It’s Becoming Less Common – But Most Couples Still Make Decisions Together When They Give Money To Charity

While most U.S. couples make charitable giving decisions together, the share of joint decision-makers is declining, according to a study we published March 16. About 62% of couples decide about their giving together, down from 73% in 2005, the last time anyone studied this behavior in the general population rather than in rich families. Meanwhile, we found that it became more common for one partner to make all giving decisions for their household. When that happens, women are more likely to be in charge than men – 15% and 12%, respectively. The remaining 11% of couples decide separately about what charities to support and how much money to give away, down from 16% in 2005. These findings are based on responses to a Women’s Philanthropy Institute survey we and our colleagues conducted in ...