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ACLU Donor Withdraws $20M Gift

David Gelbaum provided one quarter of the budget

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We noted earlier today that l’affaire Madoff continues to have an adverse effect on philanthropy. And today brought news of another apparently hard-hit Jewish donor: David Gelbaum, a major clean-tech venture capitalist who has invested in several Israeli start-ups, has withdrawn his annual $20 million donation to the American Civil Liberties Union. (Actually, Gelbaum is an anonymous donor; or is supposed to be, anyway.) The $200 million gift represents a quarter of the ACLU’s operating budget. And the organization has already faced significant cutbacks over the past year … thanks to Madoff.

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ACLU Donor Withdraws $20M Gift

David Gelbaum provided one quarter of the budget

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