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From: Philanthropy Today
Subject: How to Be a Better Leader Amid Uncertainty
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Elon Musk’s charitable foundation fell short of its required minimum distribution in 2023 by $421 million. It was the third consecutive year that the $9 billion Musk Foundation did not give away at least 5 percent of its assets, as required by the Internal Revenue Service. The philanthropy, which has no paid employees overseeing its giving, faces a 30 percent tax penalty on the shortfall. Musk, who continues to plow considerable sums into the foundation, did not respond to requests for comment. (New York Times)
Philanthropists and media leaders are beefing up local newsrooms with new projects and grants. The Knight Foundation is giving $20 million to Report for America, which will put 500 new journalists in primarily rural or underserved communities and will bolster its own efforts to help local news organizations build resilient business models. In Tulsa, a broad coalition is launching a $14 million project to open a new newsroom and help three existing media organizations expand. Nationally, the MacArthur Foundation announced $20 million in grants to newsrooms around the country and to support the ongoing Press Forward project to revitalize local news. (KOSU and Boston Globe)
Background from the Chronicle: After Shaky Start, Philanthropy Coalition’s $500 Million Local News Effort Takes Shape
The Second Trump Administration
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Arts and Culture
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The Chronicle of Philanthropy is accepting applications for its Philanthropy & Nonprofit Accountability Fellowship. Every year four newsrooms join the program, which is designed to enhance coverage of local giving and nonprofits. Fellows receive training sessions with experts in philanthropy, investigative reporting, and public records throughout the year. Each news organization receives $30,000 to spend on its reporting projects. Learn more about the fellowship and how to apply.
Your Chronicle subscription includes free access to GrantStation’s database of grant opportunities.
Performing Arts: The National Dance Project (NDP), a program of the New England Foundation for the Arts, supports the creation and U.S. touring of new dance projects. NDP Production Grants are awarded to 20 new dance projects annually, including $45,000 for the creation of a new dance project, $10,000 in general operating support for the artist or company, $10,000 for production residency and community engagement plans, and $35,000 to support a U.S. tour of the work. Preliminary applications due February 28, 2025.
Youth: Sky Ranch Foundation is committed to giving at-risk youth a second chance by supporting efficient and effective programs in the United States. Preference is given to organizations that serve troubled youth between the ages of 11 and 18, with a priority for programs that focus on youth between the ages of 11 and 15; focus on preventing youth involvement in the criminal justice system, or provide long-term rehabilitation in a residential or alternative setting; and provide comprehensive support services to youth that may include education, job training, enrichment activities, counseling, and case management. General operating, capital, and capacity-building support are provided. Grants range from $5,000 to $40,000; letters of inquiry due January 31, 2025.
