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- Assets were at one time $1 billionNY Times: Foundation That Relied on Madoff Fund Closes (December 19, 2008)
- Was the 71st largest foundation in the U.S.NY Times: Foundation That Relied on Madoff Fund Closes (December 19, 2008)
- Gave away $70 million from 2004-2007NY Times: Foundation That Relied on Madoff Fund Closes (December 19, 2008)
- Closing announced December 19, 2008 in an e-mail NY Times: Foundation That Relied on Madoff Fund Closes (December 19, 2008)
- Founded in 1989 by Barbara Picower and Jeffry M. PicowerIdealist.org: The Picower Foundation NY Times: Foundation That Relied on Madoff Fund Closes (December 19, 2008)
- Foundation president: Barbara PicowerNY Times: Foundation That Relied on Madoff Fund Closes (December 19, 2008)
- Based in Palm Beach, FloridarIdealist.org: The Picower Foundation
- Gave $50 million gift to MITNY Times: Foundation That Relied on Madoff Fund Closes (December 19, 2008)
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The charity the Picower Foundation was forced to close after losing hundreds of millions of dollars in the stock market decline of 2008 and the Bernard Madoff Ponzi scheme investment scandal.NY Times: Foundation That Relied on Madoff Fund Closes (December 19, 2008) The foundation gave money to education, the medical field, libraries and many other areas of interest.Idealist.org: The Picower Foundation
Other Closings
The Picower Foundation is one of several charities expected to close their doors due to the losses incurred by investing with Bernard Madoff. Already the charity the JEHT Foundation has announced it will be closing. To date, however, the Picower Foundation is the largest charity to announce it is shutting down. NY Times: Foundation That Relied on Madoff Fund Closes (December 19, 2008) New York Times: Madoff Scandal Forces JEHT Foundation's Closure (December 15, 2008)Quotes
"It is with great sadness that I write to inform you that the Picower Foundation has ceased all grant-making, effective immediately, and will close its doors in the coming months." — Barbara PicowerThe Boston Globe: Major foundation falls to Madoff fraud (December 20, 2008)-
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Picower Foundation Questions
How do you select your correct color of foundation? 4 AnswersYou are supposed to apply it to the back of your hand close to your wrist. I usually go with something that blends well or maybe just a little darker than my ac... read more
For those whove read the books only: Does reading Prelude to Foundation first spoil anything in Foundation & Earth? 2 AnswersI haven't read that series in a LONG time, so, take that as you will. I think you HAVE to start with Foundation. It is just such a great book. And if you have ... read more
I need a good foundation that blends into my skin, can anyone help? 3 AnswersBare Minerals is supposed to look natural and blend in nicely. It seems to work and it helps make your actual skin look nicer when not wearing it. read more
The Wikimedia Foundation has been asking for donations at the top of Wikipedia. Do you plan to donate? 13 AnswersI have actually donated small amounts of moneys to several non-profit groups the flock project being one of them. I think it is important that we donate to the... read more
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