Foundations With Madoff Gave Away $73 Million in 2007: Table
Jan. 2 (Bloomberg) -- U.S. foundations that invested with Bernard Madoff donated more than $73 million to nonprofit organizations in 2007, according to a tally based on foundation tax returns.
The Dec. 11 arrest of the 70-year-old New Yorker has directly affected some 400 U.S. nonprofits, from Amnesty International to the Death Penalty Information Center to the Lymphoma Research Foundation. A precise accounting of Madoff-related losses isn’t possible. Each week brings new disclosures, and several foundations that said they had money with Madoff haven’t indicated how much. He is accused of operating a Ponzi scheme.
In the table below, foundation assets and donations come from 2007 tax returns and data from the research site Guidestar.org. Grants of $5,000 and above are included.