Former Fed Chairman Paul Volcker Donates $470,000 To Charity

If this is an indication of how charitable donations will improve under the Obama administration, non-profits that have had trouble attracting donors as of late have nothing to worry about.

Bloomberg: Paul Volcker, one of the men President-elect Barack Obama is counting on to save the U.S. economy, last night helped the Museum of American Finance raise about $470,000 at a gala dinner.

The former Federal Reserve chairman’s Rolodex and clout helped the museum come within $30,000 of the money raised at its inaugural gala before the crisis started last year…

Also on hand, and illustrating that New York still has a coterie of wealthy Wall Street donors, were Blackstone’s Pete Peterson, Merrill Lynch vice chairman William McDonough, and former Goldman Sachs co-chairman John C. Whitehead.

Volcker said his next fundraising challenge will be to lure donors to the Cerebral Palsy International Research Foundation’s March 1 gala and auction at the Plaza Hotel in Manhattan. He serves as the nonprofit’s board chairman.

“It operates on a shoestring, so this is an organisation I’ve been concerned about,” he said in an interview.

See Also: Volcker Advising Obama — Why It Matters
Charities Getting Squeezed By Economic Downturn

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