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Fidelity Charitable sets $4.8B record in grants for 6 months

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Fidelity Charitable sets .8B record in grants for 6 months

NEW YORK (AP) — Donations from Constancy Charitable climbed 11% to a document $4.8 billion for the primary half of 2022, the nation’s largest grantmaker introduced Wednesday.

The expansion in payouts from Constancy’s donor-advised funds — which let donors get pleasure from tax deductions and funding features on their donations earlier than they offer the cash away — paints a far sunnier image about philanthropy than different current studies.

The Giving USA report launched final month discovered 2021 donations had been down 0.7% when adjusted for inflation. That was an indication that the sector is mostly struggling to maintain tempo with elevated wants attributable to larger costs and international crises just like the pandemic and the struggle in Ukraine.

“Particular person donors are considerate once they contribute to their donor-advised funds, letting the expansion of these funds affect their giving,” Constancy Charitable President Jacob Pruitt advised The Related Press. “They can provide extra on the finish of the day and never solely are they giving extra, however they’re giving to a wide range of completely different causes.”

Constancy Charitable donors earmarked greater than $128 million in grants to Ukraine assist efforts within the first half of 2022, Pruitt stated. Emergency reduction group Worldwide Medical Corps noticed the variety of Constancy Charitable donors present them a grant bounce greater than 1000% in comparison with the primary half of 2021, whereas chef Jose Andres’ meals safety nonprofit World Central Kitchen grew greater than 500%.

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Equally, Schwab Charitable introduced Tuesday that its grants by means of its donor-advised funds had been up 27% to over $4.7 billion in its 2022 fiscal yr, which ended on June 30.

Pruitt stated Constancy Charitable has seen some slowing in donations in current months, however that it’s laborious to inform whether or not that can proceed. He stated knowledge on the amount of cash invested into donor-advised funds in 2022 to date wouldn’t be out there till the top of the yr.

“When the market is down and there may be volatility, our donors step up,” he stated. “Generosity will proceed.”

Nonetheless, “ Gilded Giving 2022,” a brand new report on donations launched Tuesday by the Institute for Coverage Research, says the growing recognition of donor-advised funds is distorting philanthropy and the form of charities that obtain cash.

Chuck Collins, co-author of the report and the Institute’s director of the Program on Inequality and the Frequent Good, stated we have now entered an period of “top-heavy philanthropy,” the place rich individuals dominate charities as a result of nearly all of individuals are struggling economically and are much less capable of afford to present. He stated rich individuals are likely to deal with donations to foundations that they management or legacy presents — massive donations to universities and museums that end in buildings being named after them so as to add to their reputations for generations.

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In response to the report, donations over $1 million in 2021 went primarily to foundations that the donors managed, donor-advised funds and faculties and universities. It notes that lower than half of American households now donate to charity, down from 68% simply 20 years in the past.

“The extra that rich individuals form the priorities of philanthropy, the much less we see individuals giving on to these serving to of their communities,” Collins stated. “We might see that change with the rise of oversight. We must always repair the design flaw.”

Laws requiring those that use donor-advised funds to complete making a gift of the cash inside 15 years to be able to keep their revenue tax deduction was launched within the Senate final yr by Republican Sen. Chuck Grassley of Iowa and Impartial Sen. Angus King of Maine, who caucuses with the Democrats. One other proposal would let cash stay in donor-advised funds for 50 years, however it will not be eligible for an revenue tax deduction till it’s donated.

Constancy Charitable’s Pruitt stated he helps laws that encourages donors to actively make grants from their donor-advised funds, although he factors out that almost all cash in these accounts is already donated inside 5 years.

“The fear,” he stated, “is unintended penalties.”

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Related Press protection of philanthropy and nonprofits receives help by means of the AP’s collaboration with The Dialog US, with funding from Lilly Endowment Inc. The AP is solely answerable for this content material. For all of AP’s philanthropy protection, go to https://apnews.com/hub/philanthropy.

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Cinematography Work at Camerimage Festival ‘Radically Different,’ Jury Members Say

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Cinematography Work at Camerimage Festival ‘Radically Different,’ Jury Members Say

Jurors at the EnergaCamerimage cinematography fest say the Golden Frog main competition films have been remarkably varied and inspiring in the event’s 32nd edition.

The 12 competing films “were radically different from each other,” said “Barbie” and “Killers of the Flower Moon” cinematographer Rodrigo Prieto, whose directorial debut, “Pedro Paramo,” is also screening at the fest. “I enjoyed that.”

The varied styles, approaches and storytellers, he added, defied easy categorization. “Happily, I didn’t notice trends, which I have noticed sometimes in the past in some festivals.”

Juror Anthony Dod Mantle, who won Golden Frogs in 2008 for his lensing of “Slumdog Millionaire” and in 2016 for “Snowden,” said, “I’ve been to this festival before and the overall collection of films and categories, I felt, was even wider. I feel slight absence of certain films from other ethnic backgrounds. They were different, these films, but they could be far more different.”

Greater diversity and inclusion in cinematography has justly been a hot topic this year at Camerimage, he added. “It’s good we embrace that, celebrate it here, because not many festivals do that.”

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Dod Mantle described the current state of cinematography, based on what the jury’s seen this week, as “openly variable and that’s why we praise some films rather than others because they challenge convention.”

He also described the industry as “in a bit of a pickle,” adding, “We know that. We have to applaud ourselves and embrace and encourage every single essence of, molecule of, exploration and challenging cinema.”

Juror Lukasz Zal, who filmed “The Zone of Interest” and “Cold War,” said “I feel really inspired. I feel this kind of positive envy when you just see something which you admire, and love – cinema is still in good condition.”

And, he added, “I’m becoming hopeful that, OK, there’s still a lot to discover. For this, I really love Camerimage. When I was here, when I was a student, I was always coming back home after festival, with this feeling, kind of eager to work, to prepare and to just be really open and be full of ideas.”
Spending time here again as a top professional in his field, Zal said, “I feel again like a student.”

Juror Cate Blanchett said it’s clear cinematography has no crisis of creativity currently.

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Instead, there’s a different issue: “The pickle is how one gets access and is able to see these films in the way that they’re intended to be seen.”

Technology advances in the field are also helping storytelling onscreen evolve, she added, rather than distracting from it. “Sometimes you can see there’s been huge technical advances made, or there’s been big innovations, and they haven’t yet been integrated into the stories that they’re being applied to. Whereas I thought there were so many films here that have really integrated the technology and in a completely adventurous and inventive way that was not pretentious. It was very interwoven and enmeshed with the performances and the stories.”

Jury duty at Camerimage is rewarding, said Dod Mantle, because the Golden Frog award can often help promising cinematographers break through to booming careers.

He described the potential effect of the award as “enormous.”

“The first time I came here, in competition,” he recalled, “it illustrated for me the jury was embracing cinema, celebrating something different and challenging.”

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Cinematographers are keenly aware of the judgment of their peers, Dod Mantle added. “You feel quite vulnerable here. I’ve seen cinematographers leave the festival and go spend the weekend in Krakow and come back. The frog, ultimately is a beautiful thing celebrating our colleagues’ work.”

Juror Anna Higgs, a producer and columnist who works closely with BAFTA, said, “I think we should normalize cinematographers getting asked for their autographs – the fact that this frog is the idolized thing here.”

Blanchett added, “It’s very rare that you go to a festival where every single person in the auditorium sits right through the credit roll to the very end.” She noted “the respect that is shown to every single crewmember.”

Prieto recalled the impact of his own Golden Frog cinematography win in 2000 for “Amores Perros” fondly. “I do cherish that frog. It’s wonderful to get a frog, but more than anything, it’s a place where cinematography is the focus and is celebrated, and to share that obsession with so many people, and the energy of that, is really wonderful.”

Zal had a similar career boost, he said, after winning for lensing “Ida” by Pawel Pawlikowski in 2013. “That’s really the moment when somehow my career changed. I was always dreaming while having student films here.  And it was beautiful to get an award from colleagues and being here and being among amazing cinematographers.

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“I was put in competition with the people who I admire. Even now, sitting with Rodrigo, who for me was a huge inspiration. I was shooting my films in school inspired by ‘Amores Perros.’ Now we’re sitting together on the jury. That’s amazing, that’s beautiful.”

Blanchett described the close proximity of students and top international lensers as a unique strength of Camerimage, praising “the mentorship that goes on, how you’ll champion the works of other people.”

“I think that’s why it’s so vitally important that there’s an increased level of female participation. Because of the networking and mentorship opportunities and championing the work. The conversations and the opportunities that arise from those conversations are really important.”

Oscar-winning costume designer Sandy Powell (“Shakespeare in Love,” “The Aviator” and “The Young Victoria”) and cinematographer and documentary filmmaker Jolanta Dylewska also served on the Camerimage jury, calling earlier this week for greater diversity and inclusion in the industry.

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Ukraine to analyze fragments of missile fired by Russia capable of carrying nuclear warheads

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Ukraine to analyze fragments of missile fired by Russia capable of carrying nuclear warheads

Investigators in Ukraine are analyzing the debris of a new intermediate-range ballistic missile (IRBM) fired by Russia at the city of Dnipro on Thursday, marking the first time the weapon had been used on the battlefield.

On Sunday, Ukraine’s Security Service showed the remaining fragments of the IRBM called Oreshnik – Russian for Hazel Tree – that struck a factory to The Associated Press.

Russian President Vladimir Putin confirmed the attack on Thursday evening in an address to the nation and said it was in direct response to the U.S. and the U.K. jointly approving Ukraine’s use of Western-supplied long-range missiles to target Russia.

The Pentagon has said the missile is based on Russia’s RS-26 Rubezh intercontinental ballistic missile (ICBM), though the wreckage has not yet been analyzed, according to security officials on site in an undisclosed location in Ukraine.

‘NEW’ RUSSIAN MISSILE USED AGAINST UKRAINE NOT HYPERSONIC, DEFENSE OFFICIALS SAY

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Fragments of a rocket which struck Dnipro on November 21 are seen at a center for forensic analysis in undisclosed location, Ukraine, Sunday Nov. 24, 2024. (AP Photo/Evgeniy Maloletka)

The AP and other media were permitted to view the fragments before being taken over by investigators.

The wire service showed images of what it described as mangled and charred wires, along with an ashy airframe about the size of a large snow tire. The remains were all that were left of the IRBM, which can carry nuclear or conventional warheads.

“It should be noted that this is the first time that the remains of such a missile have been discovered on the territory of Ukraine,” a specialist with Ukraine’s Security Service said. The specialist only identified himself by his first name Oleh because he was not authorized to discuss the issue with the media.

1,000 DAYS OF WAR IN UKRAINE AS ZELENSKYY DOUBLES DOWN ON AERIAL OPTIONS WITH ATACMS, DRONES AND MISSILES

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Fragments of a rocket which struck Dnipro on November 21 are seen at a center for forensic analysis in undisclosed location, Ukraine, Sunday Nov. 24, 2024.  (AP Photo/Evgeniy Maloletka)

Ukraine’s Main Intelligence Directorate said the missile was launched from the 4th Missile Test Range, Kapustin Yar, in Russia’s Astrakhan region. Once launched, Ukrainian officials said, it flew for 15 minutes before striking Dnipro. The missile was carrying six warheads, each carrying six subunitions, and its speed was Mach 11.

Last week, Deputy Pentagon press secretary Sabrina Singh confirmed to reporters during a press briefing that Russia had launched the IRBM, noting that it was a “new type of lethal capability that was employed on the battlefield.”

She also said the U.S. was notified briefly before the launch through nuclear or risk reduction channels.

US EMBASSY IN KYIV CLOSED AS ‘POTENTIAL SIGNIFICANT AIR ATTACK’ LOOMS

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Fragments of a rocket which struck Dnipro on November 21 are seen at a center for forensic analysis in undisclosed location, Ukraine, Sunday Nov. 24, 2024. (AP Photo/Evgeniy Maloletka)

Putin also said last week that the missile attacked targets at a speed of Mach 10.

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Despite Ukraine’s and Putin’s claim that the rocket reached speeds greater than Mach 10, two U.S. defense officials told Fox News on Thursday the missile was not hypersonic, which, according to NASA, is a speed greater than 3,000 mph and faster than Mach 5.

Along with launching the IRBM for the first time on the battlefield, Putin signed a law to grant debt forgiveness to those who enlist in Russia’s army to fight in Ukraine.

US BRIEFED UKRAINE AHEAD OF PUTIN’S ‘EXPERIMENTAL INTERMEDIATE-RANGE BALLISTIC’ ATTACK

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Fragments of a rocket which struck Dnipro on November 21 are seen at a center for forensic analysis in undisclosed location, Ukraine, Sunday Nov. 24, 2024. (AP Photo/Evgeniy Maloletka)

The AP reported that the measure highlights the country’s need for military personnel as it continues its war against Ukraine.

Russian state news agency Interfax said the new legislation allows new recruits enlisting for a one-year contract, to write off debts up to 10 million rubles, or about $96,000.

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The law reportedly applies to debts in which a court order for collection was issued, and enforcement proceedings had commenced before Dec. 1, 2024. The legislation also applies to spouses of new recruits.

The Associated Press contributed to this report.

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Voters in Switzerland say no to bigger motorways

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Voters in Switzerland say no to bigger motorways

The federal government argues that the volume of traffic on the motorway network has increased more than five times over the past sixty years.

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Swiss voters took to the polls on Sunday to vote no to bigger motorways, no to easier evictions and tighter subletting rules and yes to a new healthcare financing model.

The Swiss government’s proposal to allocate €5.3 million for expanding motorways and constructing new roads at six key locations, including near Bern and between Geneva and Lausanne, was rejected by 52.7% of voters.

The plan, approved by parliament last year, faced opposition from those concerned about its environmental impact and effectiveness.

The federal government, argues that the volume of traffic on the motorway network has increased more than five times over the past 60 years.

The result was celebrated by the Green Party which called the proposal “an out-of-date transport policy”.

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Together with left-wing and environmental groups, the Greens campaigned against the project, highlighting its environmental impact and the concern that wider roads would only lead to more traffic. They now advocate for the funds to be used for public transport, active mobility, and the renovation of existing motorways.

Mattea Meyer from the no camp expressed her satisfaction with the referendum result.

“I am incredibly pleased that a majority of the population does not want a highway expansion, and instead wants more climate protection, a transport transition that is climate-compatible, which the highway expansion is not,” she said.

According to local media to counter this decision the yes campaign, plans on moving forward with expansion projects separately through agglomeration programs, reducing the chance for cantonal referendums.

No to easier evictions

On Sunday, Swiss voters decided on multiple housing issues, such as subletting and lease termination.

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53.8% of them rejected the proposal which would make it easier for landlords to terminate leases early in order to use properties for their own purposes.

Additionally, 51.6% voted against a plan for stricter regulations on subletting residential and commercial properties. According to local media, these issues attracted significant attention because tenancy laws affect the majority of Swiss citizens, with about 60% of the population renting their homes, the highest rate in Europe.

The proposal to ease eviction rules faced strong opposition, especially in French-speaking cantons, with Geneva seeing 67.8% of its voters against the plan due to the city’s ongoing housing shortage.

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