nonprofit

A new startup called Bono aims to modernize the way people donate to charities 

Startups /

Every year, donors contribute billions of dollars to charities, yet the donation process still feels outdated and cumbersome. Founders Dan Eblagon and Ron Levy believe there is an easier way to donate, leading to the creation of Bono, a platform designed to facilitate a more modern and streamlined approach to giving.  The platform (named after […]

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Elon Musk will withdraw bid for OpenAI’s nonprofit if its board agrees to terms

AI /

In a court filing on Wednesday, a lawyer for Elon Musk said the billionaire will withdraw his $97.4 billion bid for OpenAI’s nonprofit if the ChatGPT maker’s board of directors “preserve the charity’s mission” and halt its conversion to a for-profit corporation. The filing, submitted to the U.S. District Court for the Northern District of

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How Musk’s $97.4B bid could gum up OpenAI’s for-profit conversion

AI /

On Monday, Elon Musk, the world’s richest man, offered to buy the nonprofit that effectively governs OpenAI for $97.4 billion. The unsolicited buyout would be financed by Musk’s AI company, xAI, and a consortium of outside investors, per a letter sent to California and Delaware’s attorneys general. OpenAI CEO Sam Altman quickly dismissed Musk’s bid,

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Fundraise Up claims its AI can boost nonprofit donations

Fundraising /

Many nonprofits are stuck with outdated, expensive, and limited tech that hinders their ability to fund their mission or cause. While most consider adopting tech to be a priority, they’re faced with a number of blockers, including siloed data and issues with integration. Peter Byrnes, the co-founder of Fundraise Up, a Brooklyn-based fundraising platform for

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Nonprofit group joins Elon Musk’s effort to block OpenAI’s for-profit transition

AI /

Encode, the nonprofit organization that co-sponsored California’s ill-fated SB 1047 AI safety legislation, has requested permission to file an amicus brief in support of Elon Musk’s injunction to halt OpenAI’s transition to a for-profit company. In a proposed brief submitted to the U.S. District Court for the Northern District of California Friday afternoon, counsel for

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Nonprofit group joins Elon Musk’s effort to block OpenAI’s for-profit transition

Government & Policy /

Encode, the nonprofit org that co-sponsored California’s ill-fated SB 1047 AI safety legislation, has requested permission to file an amicus brief in support of Elon Musk’s injunction to halt OpenAI’s transition to a for-profit. In a proposed brief submitted to the U.S. District Court for the Northern District of California Friday afternoon, counsel for Encode

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OpenAI may pay its nonprofit arm ‘billions of dollars’ in conversion to for-profit

AI /

OpenAI’s transition away from a for-profit corporation that’s governed by a nonprofit board is well underway — and the nonprofit could be compensated royally for it. That’s according to The New York Times, which reports that OpenAI is in discussions to pay the nonprofit billions of dollars for it to cede control. There’s pressure to

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OpenAI is funding research into ‘AI morality’

AI /

OpenAI is funding academic research into algorithms that can predict humans’ moral judgements. In a filing with the IRS, OpenAI Inc., OpenAI’s nonprofit org, disclosed that it awarded a grant to Duke University researchers for a project titled “Research AI Morality.” Contacted for comment, an OpenAI spokesperson pointed to a press release indicating the award

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Microsoft could end up with substantial equity in the restructured, for-profit OpenAI

AI /

How much equity in OpenAI will Microsoft get once the former becomes a for-profit company? That’s the multi-billion-dollar question — one the two parties are racing to answer ahead of a two-year deadline. The Wall Street Journal reports that both Microsoft and OpenAI have hired investment banks to negotiate Microsoft’s equity — which could be

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