FYI: Forbes magazine has published its annual ratings of 200 of the nation’s largest nonprofit groups, judging them by their fundraising ethics and financial health. On average, the groups spent 85 percent of their money on their missions—meaning not on fundraising, overhead costs, or management. Lutheran Services of America finished the year with the largest surplus, over $1.2 billion, while the Metropolitan Museum of Arts was among the five biggest losers, posting a $134 million loss. Meanwhile, some nonprofit industry watchers are warning that donors will see a boost in fraudulent fundraising this holiday season, because the U.S. Postal Service has extended its discount mailing rate to for-profit companies working on behalf of charities, and because the Federal Trade Commission exempted charitable solicitations from its do-not-call registry. Check out the upcoming January issue of City Limits magazine for Geoffrey Gray’s examination of Attorney General Eliot Spitzer’s campaign for tighter regulation of New York nonprofits. [12/2/03]
