Tuesday, December 23, 2008

Charity givers becoming cautious

Ever since news reports began surfacing last week that a number of charities appeared to have lost millions of dollars invested with Bernard Madoff, Bill White has been fielding phone calls and emails from nervous donors to the two New York nonprofits he runs.

Each asked if the charities -- the Intrepid Sea, Air & Space Museum and the Intrepid Fallen Heroes Fund, a foundation that helps wounded soldiers and their families -- had invested with Mr. Madoff. One, who was considering making a gift of almost $1 million to the museum's endowment, also wanted to know if it had invested with American International Group Inc. or any automotive companies.


Now if charity donors are being skepitical of where their money is being invested, then how much money will be yanked from hedge funds?

Or does someone assume that these hedge fund investors are just looking for a tax loss?

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