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January 7, 2009, 12:27 PM ET
Donors and Foundations Try to Mitigate Madoff Losses
Donors are stepping in to help nonprofit groups mitigate some of the damage done by Bernard Madoff’s alleged investment scheme, reports the Associated Press.
The activist group MoveOn.Org organized an end-of-year fund-raising drive for four organizations that depended on grants from foundations that lost money with Mr. Madoff. In three days, the group helped raise $635,000 for the Brennan Center for Justice, Human Rights Watch, Advancement Project, and the Center for Constitutional Rights. The Open Society Institute and another foundation, the Atlantic Philanthropies, have offered to match up to $300,000 each.
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