Comments on: Lessons for Charities and Foundations from Bernie Madoff http://www.nonprofitquarterly.org/cohenreport/2009/01/03/lessons-for-charities-and-foundations-from-bernie-madoff/ The Cohen Report is on the intersection of nonprofits, politics, and public policy. It is written by NPQ's National Correspondent, Rick Cohen, and published by the Nonprofit Quarterly. Thu, 15 Jul 2010 17:44:45 +0000 hourly 1 http://wordpress.org/?v=3.1.2 By: Greg Goodman http://www.nonprofitquarterly.org/cohenreport/2009/01/03/lessons-for-charities-and-foundations-from-bernie-madoff/comment-page-1/#comment-1807 Greg Goodman Wed, 18 Mar 2009 16:38:42 +0000 http://www.nonprofitquarterly.org/cohenreport/?p=218#comment-1807 MorseLife, Inc. did not lose $59.1 million as you stated in this blog -- not even close. While we made a decision to not disclose our losses due to Madoff, we did confirm that we were diversified in our investments which served us well, and caused no interruption in any of our services. Here we are today with a nursing home and independent living residence remaining at capacity, increasing demand for home care services -- with an introduction of new services such as a learning institute and skilled home health care agency -- and with a charitable and supportive community still behind us. In reviewing stories that referenced our organization after the Madoff scandal hit papers, there was never any reference to the amount of our loss, so I am not sure where you came up with this figure. I did read a New York Post story that basically cited some so-called "undisclosed sources" (read that as "made up sources") saying we were in peril, which, if you look at our operations today, seems ridiculous. Another "reporter" at The Chronicle of Philanthropy wrote that he saw that we had $59 million in our endowment in 2007 and implied that this was the amount we lost. Again, just a mean-spirited assumption without verification of facts. Thank you for allowing this reply. MorseLife, Inc. did not lose $59.1 million as you stated in this blog — not even close. While we made a decision to not disclose our losses due to Madoff, we did confirm that we were diversified in our investments which served us well, and caused no interruption in any of our services. Here we are today with a nursing home and independent living residence remaining at capacity, increasing demand for home care services — with an introduction of new services such as a learning institute and skilled home health care agency — and with a charitable and supportive community still behind us.

In reviewing stories that referenced our organization after the Madoff scandal hit papers, there was never any reference to the amount of our loss, so I am not sure where you came up with this figure. I did read a New York Post story that basically cited some so-called “undisclosed sources” (read that as “made up sources”) saying we were in peril, which, if you look at our operations today, seems ridiculous. Another “reporter” at The Chronicle of Philanthropy wrote that he saw that we had $59 million in our endowment in 2007 and implied that this was the amount we lost. Again, just a mean-spirited assumption without verification of facts.

Thank you for allowing this reply.

]]> By: Stacey Derbinshire http://www.nonprofitquarterly.org/cohenreport/2009/01/03/lessons-for-charities-and-foundations-from-bernie-madoff/comment-page-1/#comment-793 Stacey Derbinshire Sat, 03 Jan 2009 21:00:28 +0000 http://www.nonprofitquarterly.org/cohenreport/?p=218#comment-793 Can you tell me who did your layout? I've been looking for one kind of like yours. Thank you. Can you tell me who did your layout? I’ve been looking for one kind of like yours. Thank you.

]]>