Big Banks Pony Up for $350-Million NYC Housing Fund

New York Mayor Bill de Blasio announced on Wednesday a $350-million loan fund for affordable-housing projects to be financed largely by Wall Street banks, Bloomberg and The Wall Street Journal write.

Citigroup will make $75-million available at 2.75 percent interest for the housing pot, with Wells Fargo and Morgan Stanley investing $50-million each. Eleven other banks as well the city’s public pension funds and its Housing Development Corporation have made commitments to the fund.

The deal marks…

Mont. Farmer Leaves $38-Million to 2 Billings Hospitals

Two Billings, Mont., hospitals will split a $38-million bequest from a retired local farmer who died in May at age 97, write the Billings Gazette and the Associated Press.

The unrestricted gifts to Billings Clinic and St. Vincent Healthcare represent the entire estate of Paul Metzger. Both hospitals plan to put the money into endowments.

Mr. Metzger sold his family farm outside Billings when he retired in the 1970s. He expanded his assets through investments but continued to live modestly in a s…

S.F. Council Backs Bigger Wage Hike for Nonprofit Workers

The San Francisco Board of Supervisors approved a resolution Tuesday to bring pay increases at charities that do work for the city into line with raises for government employees and for-profit contractors, Mission Local reports.

The 7-4 vote allocates up to $3.4-million more for nonprofit contractors to cover a 2.25-percent pay hike, matching the figure for commercial and public-sector staffs. The previously approved city budget set nonprofit raises at 1.5 percent, triggering protests from chari…

Leader at N.Y. Priest’s Nonprofit Network Faces Larceny Charge

A longtime executive with a clergyman’s upstate New York charity organization was arrested Wednesday on charges that she stole more than $1-million in taxpayer funds and approved a phony job for a former state legislator, the Times Union of Albany reports.

Prosecutors allege Jacqueline Gentile diverted state grants intended for drug-treatment and job-training programs to cover deficits and pay salaries at the Rev. Peter Young’s network of social-service agencies, with which she has worked for 28…

Metropolitan Opera Proposes Mediation With Unions as Lockout Looms

The Metropolitan Opera proposed Wednesday that federal mediators be engaged to facilitate talks with the company’s unions in the final hours before contracts expire, reports The New York Times.

Peter Gelb, the Met’s general manager, has threatened to lock out employees if a deal is not reached or significant progress made by Thursday night, when current deals for 15 of the opera’s 16 unions run out.

The company, facing declining ticket sales and a dwindling endowment, is seeking changes in work …

U.K. Charity Watchdog Investigating Key ‘Big Society’ Group

The Big Society Network launched by British Prime Minister David Cameron to advance his namesake social effort is under investigation by the regulatory Charity Commission for alleged misuse of millions of dollars in government funds, according to The Independent.

The charity has received more than $4.2-million in public-sector grants and lottery revenue since its inception in 2010 as part of Mr. Cameron’s signature “Big Society” effort to boost philanthropy and voluntarism and shift service prov…

Nonprofit N.Y. Hospital to Get $1.1-Billion in Sandy Aid

NYU Langone Medical Center will receive a $1.13-billion federal aid package to repair extensive damage from Hurricane Sandy and prevent future flooding at the riverfront hospital, The New York Times writes.

The package represents the second-largest Federal Emergency Management Agency award for a single project, after the $1.17-billion allocated for New Orleans schools following Hurricane Katrina in 2005. In a departure from past FEMA practice, the NYU Langone funds will be delivered in a lump su…

Years-Long Case Against Islamic Charity Chief Dropped

An Oregon-based Muslim charity pleaded guilty to tax fraud Tuesday as part of a deal with prosecutors that saw longstanding charges against the organization’s former leader dropped, the Associated Press writes.

The U.S. branch of the Al-Haramain Islamic Foundation admitted to one count of filing a false tax return in connection with a $150,000 overseas donation in 2000 and was placed on three years’ probation. The charity failed to report that the funds went to Saudi Arabia and were meant to be …

Boys & Girls Clubs Spots Take Dark Turn in New Campaign

In a break from past Boys & Girls Clubs advertising campaigns that featured celebrity testimonials or showed children enjoying club activities, a new commercial for the national youth charity emphasizes the risks kids face on their own after school, writes The New York Times.

The new spot features children spilling out of school at 3 p.m. and into situations that hint at danger, such as girls being beckoned by a man in an alley or a boy playing on railroad tracks as a train whistle sounds. In a …

Pittsburgh Drops Suit Seeking Taxes From Hospital Network

The City of Pittsburgh and the University of Pittsburgh Medical Center have called an end to their legal battle over municipal officials’ effort to strip the nonprofit health system of its tax-exempt status, the Pittsburgh Tribune-Review and the Pittsburgh Post-Gazette report.

Mayor Bill Peduto’s office notified UPMC on Friday that the city was dropping its suit seeking to collect payroll and property taxes from the health-care giant, Pennsylvania’s largest private employer. UPMC in turn abandon…