PROVIDENCE — The Rhode Island Foundation gave away $29.2 million to more than 1,300 nonprofit organizations in 2010, according to its newly released annual report.
The grant money, the most the foundation has spent since its founding 95 years ago, was 5.8 percent higher than 2009’s $27.6 million.
Forty-one percent of the grants were determined by the foundation, while 59 percent were decided by donors.
The majority of the grants were directed toward six sectors — education, health, human services, environment, arts and culture and community and economic development — with education organizations receiving more than $8 million.
The foundation also runs an Initiative for Nonprofit Excellence, which offers training and workshops as well as online resources for nonprofits.
The Rhode Island Foundation had $572 million in assets at the end of 2010, a 9.35 percent increase from the year before. Operati
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WINDSOR, Conn., February 28, 2011—Total new individual life annualized premium increased two percent in the fourth quarter, resulting in a four percent uptick in 2010, according to LIMRA’s U.S. Individual Life Insurance Sales Survey. “Throughout the year, Whole Life and Universal Life were strong performers, spurring an increase of overall individual life insurance sales,” said Ashley Durham, senior analyst, LIMRA Product Research. “While we have not gotten back to the peak level reached in 2007, we are encouraged by the positive results this year.” New WL annualized premium improved 14 percent in the fourth quarter and 15 percent in 2010. Policy sales also increased, up six percent for the quarter and two percent for the year. Nearly 60 percent of the writers were able to increase their WL premium this year, including all but one of the top ten. This is the sixth consecutive quarter of growth for WL sales. New UL annualiz Read more…
As the economy began to show signs of improvement in 2010, the number of closed business-for-sale transactions increased – welcome news for entrepreneurs who are hoping to go on the market in the new year.
As the economy began to show signs of improvement in 2010, the number of closed business-for-sale transactions increased – welcome news for entrepreneurs who are hoping to go on the market in the new year.
According to BizBuySells Insight Report, the number of businesses sold last year increased by 3 percent. The report also predicts that this upward trend will continue into 2011 as credit eases and the number of buyers increase.
“Spurred on by a strong showing in the fourth quarter, the business-for-sale market showed some promising signs of recovery heading into the New Year,” said Mike Handelsman, group general manager for BizBuySell.com and BizQuest.com.
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Growth capital program increased lending by 23 percent in one year
The U.S. Small Business Administration recently announced that during fiscal year 2010, its growth capital program had grown by 23 percent, funding $1.59 billion in new loans in order to help small businesses in a time of economic uncertainty.
The lending statistics, which were announced by SBA Administrator Karen Mills, represented the highest numbers in the 50-year history of the Small Business Investment Company program sponsored by the SBA. Among the reasons for the added level of funding were provisions made in the American Recovery and Reinvestment Act of 2009.
“At a time when access to capital was tight, including from the traditional sources for growth capital, SBA helped fill some of that gap with a record amount of financing through our SBIC program,” Mills said.
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