NEW YORK — Non-profit organisations may find it harder to raise money, and will almost certainly face calls for greater scrutiny by donors and regulators, after losing billions of dollars by investing with Bernard Madoff. Mark Charendoff, the president of the Jewish Funders Network, which represents 900 philanthropists and foundations, said: ‘There’s no question that donors are going to be asking very, very hard questions of non-profits before they give to them. His views were echoed by others in the non-profit world, who said they had faced questions not only about their endowments’ exposure to Mr Madoff’s alleged $50bn ‘Ponzi scheme, but also about the safety of their other investments. Several foundations and charities have closed after losing either their endowment or their donors through investments with Mr Madoff. Others have lost money but say they will continue and try to replace funding. Many endowments had all their money, or a large part of it, invested with Mr Madoff. Jeff Solomon, president of The Andrea and Charles Bronfman Philanthropies, said: ‘There was a failure here by governing bodies to do due diligence . . . diversification is the first rule of investment. He said: […]