Latest news with #Funding
Yahoo
12 hours ago
- Politics
- Yahoo
How state funding is affecting Illinois college tuition
State universities in Illinois are facing a growing problem. State funding has not kept up with rising costs, leading schools to raise tuition. That move is causing lagging enrollment. Students from low- and middle-income families are disproportionately affected, as are students of color. Legislation to help equalize funding is pending in the Illinois State Assembly. House Bill 1581 and Senate Bill 13 (Adequate and Equitable Public University Funding Act) call for establishing a funding structure like the Evidence-Based Funding formula for K-12 education. The legislation supported by nine of the 12 public universities, but not the three University of Illinois schools. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
4 days ago
- Business
- Yahoo
Milliman analysis: Corporate pension funding continues rebound in May as discount rates hit 20-month high
Milliman 100 PFI funded ratio improves to 104.9% as discount rates rise 14 basis points SEATTLE, June 06, 2025--(BUSINESS WIRE)--Milliman, Inc., a premier global consulting and actuarial firm, today released its monthly Milliman 100 Pension Funding Index (PFI), which analyzes the 100 largest U.S. corporate pension plans. During May, discount rates rose 14 basis points to 5.71%—a 20-month high—which shaved $19 billion off PFI plan liabilities. Meanwhile, a 0.68% monthly investment return added $2 billion to the market value of plan assets. As of May 31, the PFI asset value stood at $1.254 trillion and the funded ratio reached 104.9%, up from 103.0% at the end of April and 103.6% at the start of the year. "The large jump in discount rates was the primary reason the PFI funded ratio rose for the second straight month in May," said Zorast Wadia, author of the PFI. "While this helped to offset the first-quarter funding slump, discount rates may not remain elevated indefinitely, underscoring the value of an asset-liability matching strategy for corporate pensions." Looking forward, under an optimistic forecast with rising interest rates (reaching 6.06% by the end of 2025 and 6.66% by the end of 2026) and asset gains (10.53% annual returns), the funded ratio would climb to 112% by the end of 2025 and 126% by the end of 2026. Under a pessimistic forecast (5.36% discount rate at the end of 2025 and 4.76% by the end of 2026 and 2.53% annual returns), the funded ratio would decline to 100% by the end of 2025 and 91% by the end of 2026. Read this month's complete Pension Funding Index or Milliman's full range of annual Pension Funding Studies. To receive regular updates of Milliman's pension funding analysis, contact us at pensionfunding@ About Milliman Milliman leverages deep expertise, actuarial rigor, and advanced technology to develop solutions for a world at risk. We help clients in the public and private sectors navigate urgent, complex challenges—from extreme weather and market volatility to financial insecurity and rising health costs—so they can meet their business, financial, and social objectives. Our solutions encompass insurance, financial services, healthcare, life sciences, and employee benefits. Founded in 1947, Milliman is an independent firm with offices in major cities around the globe. Visit us at View source version on Contacts Zorast WadiaMilliman, +1 646 473
Business Wire
03-06-2025
- Business
- Business Wire
Lutheran Family and Children's Services Issues 'Meet the Moment' Appeal As Missouri Nonprofits Face 'Quiet Crisis' Amid Rising Demand
ST. LOUIS--(BUSINESS WIRE)-- Lutheran Family and Children's Services (LFCS), one of Missouri's longest-serving social service agencies, today launched its urgent "Meet the Moment" campaign. The campaign highlights a critical, growing crisis facing the nonprofit sector across Missouri and nationwide. 'When nonprofits cannot meet community needs, real lives are impacted,' said Mike Duggar, President and Chief Executive Officer. As operational costs rise and fixed funding loses purchasing power, organizations like LFCS are being asked to do more with less, even as community needs intensify. The Funding Effectiveness Project recently described this as a "quiet crisis" – a scenario where overall philanthropic dollars may be up, but individual donations are declining, threatening social service agencies' long-term health. 'When nonprofits cannot meet community needs, real lives are impacted,' said Mike Duggar, President and Chief Executive Officer. 'This isn't about budgets; it's about ensuring families children are safe, and communities can thrive. We must meet this moment together.' According to the 2025 State of the Nonprofit Sector Report, the sector faces immense pressure: 77% of nonprofits report increased demand for programs, yet 65% are impeded by staffing shortages, and nearly half lack the funds to meet client demand. Alarmingly, three out of four have cut staff or programs, with 87% seeing increased demand for mental health services despite struggles to find staff. Compounding these challenges, Congress just passed legislation making deep cuts to Medicaid spending, reducing the program by $625 billion over 10 years. In Missouri alone, one in five residents – over 1.2 million people, including 39% of all children in the state – rely on Medicaid, which also covers two-thirds of nursing home care. These cuts drastically increase demand on already strained social service organizations, like LFCS, making the 'quiet crisis' even more urgent and critical. LFCS is not alone in confronting these challenges. This call to action is amplified by key community partners, including Bringing Families Together, which shares LFCS's commitment to supporting vulnerable Missourians. "The challenges facing our communities are immense, and no single organization can solve them alone," said Kim Brown, Executive Director, Bringing Families Together. 'We are proud to stand with LFCS in this 'Meet the Moment' campaign, advocating for the critical resources needed to ensure essential services remain accessible for all who depend on them.' Despite these headwinds, LFCS proactively responded to community needs by expanding in-person capacity, opening new Kansas City offices, and prioritizing essential staff hires to reduce client waiting times and strengthen families. These vital expansions address the pressing needs of Missouri families, made even more urgent by unprecedented federal funding cuts. Through the "Meet the Moment" campaign, LFCS aims to raise $150,000 by June 30. The funds will support programs tackling Missouri's mental health crisis, preventing child abuse, and helping clients heal from trauma. For more information about the 'Meet the Moment' campaign, please visit /, call 866-326-LFCS, text 'Moment' to 50155 or make a donation. Lutheran Family and Children's Services (LFCS) is a statewide agency headquartered in St. Louis, Missouri, with regional offices in Columbia, Cape Girardeau, Springfield, Joplin, and Kansas City, as well as numerous satellite counseling sites. LFCS serves Missouri families from all walks of life in their greatest times of need. The nonprofit social services organization provides support in six critical areas to help children and families: adoption, behavioral health, parenting education, pregnancy support, foster care, and childcare at the Hilltop Child and Family Development Center. The programs in these areas empower individuals and families to develop healthy, supportive foundations for a lifetime. Services are open to anyone regardless of race, faith, national origin, or gender.
Yahoo
03-06-2025
- Business
- Yahoo
Republic Business Credit Funds $500,000 Factoring Facility for Medical Supply Manufacturer
Deal structure will address company's unique working capital challenges. LOS ANGELES, June 3, 2025 /PRNewswire/ -- Republic Business Credit has supplied a leading medical supply manufacturer with a $500,000 factoring facility, immediately improving the company's cashflow and eliminating the stress of working capital constraints. The company faced cash flow challenges due to extended payment terms, which often stretched up to 120 days. This is a problem commonly experienced by companies selling to large hospital systems and outpatient medical centers. This partnership highlights Republic's proactive approach to understanding the healthcare industry and the ongoing payroll needs of its clients. The $500,000 scalable factoring facility provided advances on up to 90% of the company's eligible receivables. Republic was eager to address the company's unique needs, capitalizing on its ability to offer tailored financing structures that address specific industry challenges. "At Republic, we pride ourselves on building strong, lasting partnerships," said Matthew Begley, Chief Operating Officer and Board Member at Republic. "We recognized this company's critical role in its community and were excited to support its growth. Our team provided a factoring facility that not only stabilized its cash flow but also supports its future." The connection came through a valuable referral from an associate familiar with both companies, a testament to the reputation Republic has developed as a trusted and reliable provider for small businesses. "We value our referral relationships immensely, and this introduction was instrumental in developing a fruitful partnership," added Jason Carmona, EVP Western Regional Manager at Republic. "This collaboration exemplifies how Republic leverages its network and expertise to provide tailored financial strategies that genuinely empower businesses to thrive." About Republic Business Credit Republic Business Credit is a nationally recognized commercial finance company supporting the working capital requirements of companies nationwide, including private equity and entrepreneurial businesses. Republic provides asset-based lending, e-commerce, ledgered lines of credit, factoring and Fast AR Funding. Republic partners with its clients to provide up to $15 million in senior credit facilities to rapidly growing businesses, start-ups and companies experiencing recoverable distress. Republic is recognized by the Secured Finance Network as one of the largest finance companies in the United States of America. Republic is proud to be headquartered in New Orleans with additional offices in Chicago, Los Angeles, Houston and Atlanta. Republic is a wholly owned subsidiary of Renasant Bank. View original content to download multimedia: SOURCE Republic Business Credit, LLC
Entrepreneur
03-06-2025
- Business
- Entrepreneur
Udaan Raises USD 114 Mn in Series G Round Led by M&G and Lightspeed
The Bengaluru-based firm aims to deploy the fresh funds in expanding its presence in the FMCG and HoReCa (hotels, restaurants, and catering) sectors, boosting its private-label staples offerings, and strengthening its balance sheet to support its ongoing transformation. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. B2B ecommerce platform Udaan has raised USD 114 million in a fresh round of funding led by M&G Investments and Lightspeed Venture Partners, following the USD 75 million first tranche it secured in February. This marks a significant step in the company's Series G round, bringing it closer to its public market debut. The Bengaluru-based firm announced that the newly raised funds will be directed toward expanding its presence in the FMCG and HoReCa (hotels, restaurants, and catering) sectors, boosting its private-label staples offerings, and strengthening its balance sheet to support its ongoing transformation. The company is doubling down on financial discipline and a margin-focused approach, critical in today's tighter investment climate. "This fundraise is a vote of confidence in the disciplined, margin-focused model we've built over the past three years," said Vaibhav Gupta, Co-founder and CEO of Udaan. "We are on course to achieve full EBITDA profitability within the next 18 months." Udaan was founded in 2016 by former Flipkart executives Amod Malviya, Sujeet Kumar, and Vaibhav Gupta. In less than a decade, the company has grown to become India's largest eB2B platform, servicing over 12,000 pin codes and offering a wide product range—including staples, pharma, fruits and vegetables, and electronics. Udaan now claims an estimated 70% market share in the eB2B space. Udaan's pivot from a growth-at-any-cost model to disciplined execution has seen impressive results. It now operates under a cluster-led structure, empowering regional teams to drive localised efficiencies. This has helped the company report over 60% year-on-year revenue growth in 2024, a 300-basis-point increase in contribution margins, and a 20% reduction in fixed costs in early 2025. Apart from its core marketplace, Udaan is also expanding its fintech vertical, UdaanCapital, which provides vital working capital solutions to small retailers and suppliers. With nearly USD 2 billion raised to date, Udaan remains one of India's best-funded startups, and industry observers believe an IPO within 12 to 24 months is increasingly likely—contingent on continued performance in credit quality, logistics, and private-label profitability.
