Some nonprofits facing closure from heavy losses tied to the recent Bernard Madoff investment scandal are getting some bailouts of their own—but not from Capitol Hill. Groups such as MoveOn.org and George Soros' Open Society Institute, among others, are stepping in to give [or raise] money—online and off—for some organizations hit especially hard by Madoff's alleged $50 billion Ponzi scheme.
In a report today, The Associated Press said that MoveOn.org used social networking and other forms of social media to help raise more than $635,000 online in three days for The Brennan Center for Justice, Human Rights Watch, Advancement Project, and The Center for Constitutional Rights. The Atlantic Philanthropies also is considering how best to help those in need of emergency funding to stay open.
For more on the rescue, see Lucy Bernholz's recent take by clicking HERE.
(Illustration by Elise Beaudry)