112-520: The Open Data Institute (ODI) is a non-profit private company limited by guarantee , based in the United Kingdom . Founded by Sir Tim Berners-Lee and Sir Nigel Shadbolt in 2012, the ODI's mission is to connect, equip and inspire people around the world to innovate with data. The ODI's global network includes individuals, businesses, startups, franchises, collaborators and governments who help to achieve
224-424: A delegate structure to allow for the representation of groups or corporations as members. Alternatively, it may be a non-membership organization and the board of directors may elect its own successors. The two major types of nonprofit organization are membership and board-only. A membership organization elects the board and has regular meetings and the power to amend the bylaws. A board-only organization typically has
336-583: A discussion paper launched at the International Open Data Conference in Ottawa , the ODI explored what data ownership looked like and what we could expect from those who manage data that is fundamental to a functioning society. The ODI is developing common definitions to describe how data is used via a ‘Data Lexicon’, and ‘Data Spectrum’ visualisation that shows how they fit together across the spectrum of closed, shared and open data. Definitions in
448-554: A fiscally viable entity. Nonprofits have the responsibility of focusing on being professional and financially responsible, replacing self-interest and profit motive with mission motive. Though nonprofits are managed differently from for-profit businesses, they have felt pressure to be more businesslike. To combat private and public business growth in the public service industry, nonprofits have modeled their business management and mission, shifting their reason of existing to establish sustainability and growth. Setting effective missions
560-681: A global systemically important bank by the Financial Stability Board since 2011. It has been designated as a Significant Institution since the entry into force of European Banking Supervision in late 2014, and as a consequence is directly supervised by the European Central Bank . According to a 2020 article in the New Yorker , Deutsche Bank had long had an "abject" reputation among major banks, as it has been involved in major scandals across various issue areas. Deutsche Bank
672-516: A government bailout. One of them claims that "If Lehman Brothers didn't have to mark its books for six months it might still be in business, and if Deutsche had marked its books it might have been in the same position as Lehman." Deutsche had become the biggest operator in this market, which were a form of credit derivative designed to behave like the most senior tranche of a CDO. Deutsche bought insurance against default by blue-chip companies from investors, mostly Canadian pension funds, who received
784-744: A higher rate of a discount than English or French bills. The founding members were: Hermann Zwicker (Bankhaus Gebr. Schickler, Berlin); Anton Adelssen (Bankhaus Adelssen & Co., Berlin); Adelbert Delbrück (Bankhaus Delbrück, Leo & Co.); Heinrich von Hardt (Hardt & Co., Berlin, New York); Ludwig Bamberger (politician, former chairman of Bischoffsheim, Goldschmidt & Co); Victor Freiherr von Magnus (Bankhaus F. Mart Magnus); Adolph vom Rath [ de ] (Bankhaus Deichmann & Co., Cologne); Gustav Kutter (Bankhaus Gebrüder Sulzbach, Frankfurt); and Gustav Müller (Württembergische Vereinsbank, Stuttgart). The First directors were Wilhelm Platenius, Georg Siemens , and Hermann Wallich . Georg Siemens
896-782: A joint industry and government Open Banking Working Group, the institute created a framework for designing and implementing the Open Banking Standard. This highlights how banking customers can have more control over their data, and how to create an environment that maximises data reuse. In ‘Data sharing and open data for banks’, a report for HM Treasury and Cabinet Office, the ODI explains why making data more accessible, and sharing transactional data via open APIs, could improve competition and consumer experience in UK banking. The paper focuses on key technologies and how they can support data sharing via APIs that preserve privacy. The ODI's 2013 ‘Show me
1008-471: A low-stress work environment that the employee can associate him or herself positively with. Other incentives that should be implemented are generous vacation allowances or flexible work hours. When selecting a domain name , NPOs often use one of the following: .org , the country code top-level domain of their respective country, or the .edu top-level domain (TLD), to differentiate themselves from more commercial entities, which typically use .com . In
1120-457: A nonprofit entity without having tax-exempt status. Key aspects of nonprofits are accountability, integrity, trustworthiness, honesty, and openness to every person who has invested time, money, and faith into the organisation. Nonprofit organizations are accountable to the donors, founders, volunteers, program recipients, and the public community. Theoretically, for a nonprofit that seeks to finance its operations through donations, public confidence
1232-550: A required 9% core Tier 1 ratio after sovereign debt write-down starting in mid-2012. As of 2012, Deutsche Bank had negligible exposure to Greece , but Spain and Italy accounted for a tenth of its European private and corporate banking business with credit risks of about €18 billion in Italy and €12 billion in Spain. In 2017, Deutsche Bank needed to get its common equity tier-1 capital ratio up to 12.5% in 2018 to be marginally above
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#17328372295871344-463: A risk specialist from Merrill Lynch , who hired two other former Merrill Lynch risk specialists Anshu Jain and William S. Broeksmit. By the mid-1990s, the buildup of a capital-markets operation had got underway with the arrival of a number of high-profile figures from major competitors. Ten years after the acquisition of Morgan Grenfell, the US firm Bankers Trust was added. Bankers Trust suffered losses during
1456-684: A self-selected board and a membership whose powers are limited to those delegated to it by the board. A board-only organization's bylaws may even state that the organization does not have any membership, although the organization's literature may refer to its donors or service recipients as 'members'; examples of such organizations are FairVote and the National Organization for the Reform of Marijuana Laws . The Model Nonprofit Corporation Act imposes many complexities and requirements on membership decision-making. Accordingly, many organizations, such as
1568-505: A stream of insurance premiums as income in return for posting a small amount of collateral. The bank then sold protection to US investors via the CDX credit index , the spread between the two was tiny but was worth $ 270m over the 7 years of the trade. It was considered very unlikely that many blue chips would have problems at the same time, so Deutsche required collateral of just 10% of the contract value. The risk of Deutsche taking large losses if
1680-471: A strong vision of how to operate the project, try to retain control of the organization, even as new employees or volunteers want to expand the project's scope or change policy. Resource mismanagement is a particular problem with NPOs because the employees are not accountable to anyone who has a direct stake in the organization. For example, an employee may start a new program without disclosing its complete liabilities. The employee may be rewarded for improving
1792-517: A sustainable and reusable way, and an Open Data Maturity Model and associated Open Data Pathway tool for organisations to assess their data practices (developed in collaboration with The Department for Environment, Food and Rural Affairs (Defra). ODI Labs also focus on implementing the World Wide Web Consortium 's CSV on the Web recommendations via CSVlint, its validator for CSV files. The ODI
1904-533: A wide diversity of structures and purposes. For legal classification, there are, nevertheless, some elements of importance: Some of the above must be (in most jurisdictions in the US at least) expressed in the organization's charter of establishment or constitution. Others may be provided by the supervising authority at each particular jurisdiction. While affiliations will not affect a legal status, they may be taken into consideration by legal proceedings as an indication of purpose. Most countries have laws that regulate
2016-816: Is a German multinational investment bank and financial services company headquartered in Frankfurt , Germany, and dual-listed on the Frankfurt Stock Exchange and the New York Stock Exchange . Deutsche Bank was founded in 1870 in Berlin . From 1929 to 1937, following its merger with Disconto-Gesellschaft , it was known as Deutsche Bank und Disconto-Gesellschaft or DeDi-Bank. Other transformative acquisitions have included those of Mendelssohn & Co. in 1938, Morgan Grenfell in 1990, Bankers Trust in 1998, and Deutsche Postbank in 2010. As of 2018,
2128-399: Is a factor in the amount of money that a nonprofit organization is able to raise. Supposedly, the more a nonprofit focuses on their mission, the more public confidence they will gain. This will result in more money for the organization. The activities a nonprofit is partaking in can help build the public's confidence in nonprofits, as well as how ethical the standards and practices are. There
2240-461: Is a key for the successful management of nonprofit organizations. There are three important conditions for effective mission: opportunity, competence, and commitment. One way of managing the sustainability of nonprofit organizations is to establish strong relations with donor groups. This requires a donor marketing strategy, something many nonprofits lack. Nonprofit organizations provide public goods that are undersupplied by government. NPOs have
2352-439: Is an important distinction in the US between non-profit and not-for-profit organizations (NFPOs); while an NFPO does not profit its owners, and money goes into running the organization, it is not required to operate for the public good. An example is a club, whose purpose is its members' enjoyment. Other examples of NFPOs include: credit unions, sports clubs, and advocacy groups. Nonprofit organizations provide services to
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#17328372295872464-414: Is an important distinction in the US between non-profit and not-for-profit organizations (NFPOs); while an NFPO does not profit its owners, and money goes into running the organization, it is not required to operate for the public good. An example is a sports club, whose purpose is its members' enjoyment. The names used and precise regulations vary from one jurisdiction to another. According to
2576-591: Is co-funded by the European Commission under the ICT Policy Support Programme (ICT PSP) as part of the Competitiveness and Innovation Framework Programme. The UK Parliament 's Public Accounts Committee noted in 2012 that the ODI would have a role in assessing what economic and public services benefits could be secured through making data freely available. The institute is led by: The ODI
2688-499: Is committed to demonstrating evidence for open data's social, economic and environmental benefits with open data stories and long-form publications. These are generated from ODI research, the work of the ODI's global network of startups, members and nodes, and the ODI Showcase programme, which supports projects to achieve open data impact. The ODI undertakes research on a broad range of areas related to open data. This includes exploring
2800-541: Is concerned. In many countries, nonprofits may apply for tax-exempt status, so that the organization itself may be exempt from income tax and other taxes. In the United States, to be exempt from federal income taxes, the organization must meet the requirements set forth in the Internal Revenue Code (IRC). Granting nonprofit status is done by the state, while granting tax-exempt designation (such as IRC 501(c) )
2912-450: Is granted by the federal government via the IRS. This means that not all nonprofits are eligible to be tax-exempt. For example, employees of non-profit organizations pay taxes from their salaries, which they receive according to the laws of the country. NPOs use the model of a double bottom line in that furthering their cause is more important than making a profit, though both are needed to ensure
3024-408: Is not classifiable as another category. Currently, no restrictions are enforced on registration of .com or .org, so one can find organizations of all sorts in either of those domains, as well as other top-level domains including newer, more specific ones which may apply to particular sorts of organization including .museum for museums and .coop for cooperatives . Organizations might also register by
3136-462: Is open (data that anyone can access, use and share). According to the ODI, for data to be considered ‘open’, it must be accessible, which usually means published on the World Wide Web ; be available in a machine-readable format and have a licence that permits anyone to access, use and share it – commercially and non-commercially. The ODI's Data as Culture art programme engages artists to explore
3248-508: Is part core-grant and part income-backed. £10m of public funds were pledged by the UK Technology Strategy Board to the ODI in 2012, (£2m/year over five years). A further $ 4,850,000 of funding has been secured via Omidyar Network . ODI derives its income from training, membership, research and development, services and events. In 2015, the balance between core-grant and income was approximately 50:50. More detail can be found on
3360-594: Is the European network for the exchange of experience and ideas around implementing open data policies in the public sector. It brings together 45 partners covering 26 countries with representatives from government departments, standards bodies, academic institutions, commercial organisations, trade associations and interest groups. DaPaaS and OpenDataMonitor are co-funded by the Seventh Framework Programme for research and technological development (FP7). Share PSI
3472-411: Is the remuneration package, though many who have been questioned after leaving an NPO have reported that it was stressful work environments and the workload. Public- and private-sector employment have, for the most part, been able to offer more to their employees than most nonprofit agencies throughout history. Either in the form of higher wages, more comprehensive benefit packages, or less tedious work,
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3584-472: Is unique in which source of income works best for them. With an increase in NPOs since 2010, organizations have adopted competitive advantages to create revenue for themselves to remain financially stable. Donations from private individuals or organizations can change each year and government grants have diminished. With changes in funding from year to year, many nonprofit organizations have been moving toward increasing
3696-573: The 1998 Russian financial crisis since it had a large position in Russian government bonds, but avoided financial collapse by being acquired by Deutsche Bank for $ 10 billion in November 1998. On 4 June 1999, Deutsche Bank merged its Deutsche Morgan Grenfell and Bankers Trust to became Deutsche Asset Management (DAM) with Robert Smith as the CEO. This made Deutsche Bank the fourth-largest money management firm in
3808-726: The Landesbank für Bosnien und Herzegowina in Sarajevo , together with the Société Générale de Belgique and its affiliate Banque Belge pour l'Étranger . In 1940, following the German invasion of Belgium , Deutsche Bank bought out the Belgian stake under duress and became the AJB's dominant shareholder, with 88 percent held either directly or through Creditanstalt. Deutsche Bank simultaneously took control of
3920-767: The National Bank of Greece during the Axis occupation of Greece , without however acquiring ownership out of consideration for Italian sensitivities. Through the Creditanstalt-Bankverein, Deutsche Bank also became a major shareholder of the Allgemeiner Jugoslawischer Bankverein (AJB), which had been formed in 1928 from the two former branches of the Wiener Bankverein in Belgrade and Zagreb, and of
4032-715: The National Center for Charitable Statistics (NCCS), there are more than 1.5 million nonprofit organizations registered in the United States , including public charities , private foundations , and other nonprofit organizations. Private charitable contributions increased for the fourth consecutive year in 2017 (since 2014), at an estimated $ 410.02 billion. Out of these contributions, religious organizations received 30.9%, education organizations received 14.3%, and human services organizations received 12.1%. Between September 2010 and September 2014, approximately 25.3% of Americans over
4144-935: The Northern Pacific Railroad in the US and the Baghdad Railway (1888). In Germany, the bank was instrumental in the financing of bond offerings of steel company Krupp (1879) and introduced the chemical company Bayer to the Berlin stock market. The second half of the 1890s saw the beginning of a new period of expansion at Deutsche Bank. The bank formed alliances with large regional banks, giving itself an entry into Germany's main industrial regions. It thus formed community-of-interests partnerships with Bergisch-Märkische Bank [ de ] in Elberfeld and Schlesischer Bankverein [ de ] in Breslau , linked to
4256-587: The Wikimedia Foundation , have formed board-only structures. The National Association of Parliamentarians has generated concerns about the implications of this trend for the future of openness, accountability, and understanding of public concerns in nonprofit organizations. Specifically, they note that nonprofit organizations, unlike business corporations, are not subject to market discipline for products and shareholder discipline of their capital; therefore, without membership control of major decisions such as
4368-431: The clearing center for the three banks. Since the mid-1990s Deutsche Bank commercial real estate division offered Donald Trump financial backing, even though in the early 1990s Citibank , Manufacturers Hanover , Chemical , Bankers Trust , and 68 other entities refused to financially support him. In 2008, Trump sued Deutsche Bank for $ 3 billion and a few years later, he shifted his financial portfolio from
4480-628: The crisis summer of 1931 the Deutsche Golddiskontbank , a subsidiary of the Reichsbank , acquired 35 percent of DeDi-Bank's equity as part of a sector-wide rescue, bringing total government ownership of the bank to 38.5 percent. This did not, however, result in significant government interference in the management of the company, unlike at Dresdner Bank whose capital was near-completely nationalized. When Adolf Hitler became leader of Germany, Deutsche Bank increasingly became integrated into
4592-563: The 12% median CET1 ratio of Europe's 24 biggest publicly traded banks, so there would be no dividend for 2015 and 2016. Furthermore, 15,000 jobs were to be cut. In June 2015, the then co-CEOs, Jürgen Fitschen and Anshu Jain, both offered their resignations to the bank's supervisory board, which were accepted. Jain's resignation took effect in June 2015, but he provided consultancy to the bank until January 2016. Fitschen continued as joint CEO until May 2016. The appointment of John Cryan as joint CEO
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4704-415: The 12.25% required by regulators. In January 2014, Deutsche Bank reported a €1.2 billion ($ 1.6 billion) pre-tax loss for the fourth quarter of 2013. This came after analysts had predicted a profit of nearly €600 million, according to FactSet estimates. Revenues slipped by 16% versus the prior year. Deutsche Bank's Capital Ratio Tier-1 (CET1) was reported in 2015 to be only 11.4%, lower than
4816-717: The 39-story building continued for nearly a decade, and was completed in early 2011. In October 2001, Deutsche Bank was listed on the New York Stock Exchange . This was the first NYSE listing after interruption due to 11 September attacks . The following year, Josef Ackermann became CEO of Deutsche Bank and served as CEO until 2012 when he became involved with the Bank of Cyprus . Then, beginning in 2002, Deutsche Bank strengthened its U.S. presence when it purchased Scudder Investments. Meanwhile, in Europe, Deutsche Bank increased its private-banking business by acquiring Rued Blass & Cie (2002) and
4928-757: The Creditanstalt expanded its operations into Nazi-occupied Czechoslovakia, Poland, Yugoslavia, and in Nazi-allied Bulgaria. In September 1938, following the Munich Agreement , Deutsche Bank took over the branches of Prague-based Böhmische Union Bank (BUB) in the Sudetenland . In March 1939, it forcibly took over control of the BUB itself, in which it built a majority stake complemented with prior shareholding of Creditanstalt. It also took over management control of
5040-508: The Global Open Data for Agriculture Initiative, presents 14 use cases showing open data use in agriculture, food production and consumption. The ODI runs an Open Data for Smart Cities training course, and works closely with relevant ODI Members to highlight opportunities for urban planners, entrepreneurs and city residents. ODI Members are organisations and individuals, from large corporations to students, who explore, demonstrate and share
5152-817: The Landesbank in Sarajevo. Following the German invasion of Yugoslavia , the AJB was divided into two separate institutions, respectively the Bankverein AG Belgrad in occupied Serbia , and the Bankverein für Kroatien AG in the Independent State of Croatia . Both these banks' assets were eventually confiscated by the newly established Communist authorities in October 1944, and they were subsequently liquidated. During
5264-452: The NPO's reputation, making other employees happy, and attracting new donors. Liabilities promised on the full faith and credit of the organization but not recorded anywhere constitute accounting fraud . But even indirect liabilities negatively affect the financial sustainability of the NPO, and the NPO will have financial problems unless strict controls are instated. Some commenters have argued that
5376-550: The Nazi government fully re-privatized Deutsche Bank in 1935–1937, largely out of budgetary considerations. Its name changed back to Deutsche Bank in 1937. While the Nazi policies of financial repression were largely unhelpful to the domestic business of Deutsche and other German commercial banks, its expansionary behavior created opportunities that Deutsche Bank pursued. In 1938 following Hitler's Anschluss of Austria , Deutsche Bank gradually took control of Creditanstalt-Bankverein ,
5488-511: The Nazi power structures, and fully implemented the Nazi policy of aryanization . In 1934 it dismissed its three Jewish management board members, Oscar Wassermann , Theodor Frank, and Georg Solmssen ; in 1938 it dismissed its last Jewish supervisory board member. By the end of 1938, it had been involved as an intermediary and lender in at least 363 cases of expropriation of Jewish-owned businesses. In 1938, it acquired Jewish-controlled German bank Mendelssohn & Co. under duress. Meanwhile,
5600-513: The ODI commissioned Artists in Residence, Thomson & Craighead , Natasha Caruana and Alex McLean to exhibit work and create new data-driven pieces. The ODI promotes data as a tool for global development, delivering support programmes in developing countries, conducting research, and helping to develop recommended practices and policies when applying open data to development challenges. The ODI has supported open data leaders in governments around
5712-415: The ODI focuses much of its research, publications and projects around specific themes and sectors. Since its inception in 2012, the ODI has championed open data as a public good, stressing the need for effective governance models to protect it. In 2015, the ODI was instrumental in beginning a global discussion around the need to define and strengthen data infrastructure. In ‘Who owns our data infrastructure’,
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#17328372295875824-403: The ODI global network for networking and peer learning. The ODI assesses startups for the programme based on the strength of their idea and team, market opportunity and timing, potential scale, use of open data, and potential impact. 30 ODI Startups have joined the programme, which between them employ 185 people and have secured over £10m in contracts and investments. ODI Nodes are franchises of
5936-1385: The ODI's global network. They work collaboratively with HQ to help ensure the node network is sustainable, lead the delivery of quality services to market and develop initiatives that can scale across the network. Learning nodes establish local training via ODI Registered Trainers, and focus on growing their reach by tailoring ODI Learning to local demand. Community nodes convene local individuals and organisations interested in open innovation, delivering local events and workshops. They raise awareness of data's economic, social and environmental benefits, and encourage local collaboration. Story nodes raise awareness, share challenges and promote best practice in harnessing data's economic, social and environmental benefits via blogs from their perspectives within their local contexts, across sectors and themes. The ODI provides consultancy, training and research and development advisory to help governments, organisations and businesses to use open data to create economic, environmental and social value. The ODI assesses how open data can impact organisations, implement open data strategies and innovate with open data to solve problems and create new opportunities. The ODI Labs team creates tools, techniques and standards for open data publishing. Flagship ODI Labs products include Open Data Certificates, which show that data has been published in
6048-412: The ODI's public dashboards. Nonprofit organization A nonprofit organization ( NPO ), also known as a nonbusiness entity , nonprofit institution , or simply a nonprofit , is a legal entity organized and operated for a collective, public or social benefit, as opposed to an entity that operates as a business aiming to generate a profit for its owners. A nonprofit organization is subject to
6160-631: The ODI. Hosted by existing (for-profit or not-for-profit) organisations, ODI Nodes operate locally and are connected globally as part of the ODI Node network. Each node adopts the ODI Charter, an open codification of the guiding principles and rules under which the ODI operates. ODI HQ (based in London) charges ODI Nodes to be part of the network. ODI Node types include pioneer nodes, learning nodes, community nodes and story nodes. Pioneer nodes are ambassadors for
6272-611: The Reichsbank, of which 744 kg came from Holocaust victims. In an effort to come to terms with its past during the Nazi era, Deutsche Bank in 1995 published a history volume that detailed its entanglement with the dictatorship. In December 1999, along with other major German companies, Deutsche Bank contributed to a US$ 5.2 billion compensation fund following lawsuits brought by Holocaust survivors; U.S. officials had reportedly threatened to block Deutsche Bank's $ 10 billion purchase of Bankers Trust if it did not contribute to
6384-902: The Russian investment bank United Financial Group (2005) founded by the United States banker Charles Ryan and the Russian official Boris Fyodorov which followed Anshu Jain 's aggressive expansion to gain strong relationships with state partners in Russia. Jain persuaded Ryan to remain with Deutsche Bank at its new Russian offices and later, in April 2007, sent the president and chairman of the management board of VTB Bank Andrey Kostin 's son Andrey to Deutsche Bank's Moscow office. Later, in 2008, to establish VTB Capital , numerous bankers from Deutsche Bank's Moscow office were hired by VTB Capital. In Germany, further acquisitions of Norisbank , Berliner Bank and Deutsche Postbank strengthened Deutsche Bank's retail offering in its home market. This series of acquisitions
6496-430: The U.S. in 1939 after more than one year in custody. Later in 1938, Creditanstalt was jointly taken over, without compensation, by German government holding VIAG [ de ] , Deutsche Bank, and the Reichsbank , which held respectively 51 percent, 25 percent, and 12 percent of its capital. In April 1942, Deutsche Bank raised its ownership to 51 percent by acquiring a block of shares from VIAG. During wartime,
6608-460: The UK and internationally. New member companies in 2015, included Deutsche Bank , Ocado Technology, SAP and The Bulmer Foundation. Each year the ODI invites new applicants onto its ODI Startup programme in order to support them to develop a sustainable business, from idea to product to growth. ODI Startups are provided with coaching and mentoring from external mentors, ad-hoc office space, discounted training courses, and access to other members of
6720-701: The acquisition in 1993 of Banca Popolare di Lecco from Banca Popolare di Novara for about $ 476 million. In 1999, it acquired a minority interest in Cassa di Risparmio di Asti . In the 11 September 2001 terrorist attacks the Deutsche Bank Building in Lower Manhattan , formerly Bankers Trust Plaza, was heavily damaged by the collapse of the South Tower of the World Trade Center. Demolition work on
6832-461: The age of 16 volunteered for a nonprofit. In the United States, both nonprofit organizations and not-for-profit organizations are tax-exempt. There are various types of nonprofit exemptions, such as 501(c)(3) organizations that are a religious, charitable, or educational-based organization that does not influence state and federal legislation, and 501(c)(7) organizations that are for pleasure, recreation, or another nonprofit purpose. There
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#17328372295876944-649: The appropriate country code top-level domain for their country. In 2020, nonprofit organizations began using microvlogging (brief videos with short text formats) on TikTok to reach Gen Z, engage with community stakeholders, and overall build community. TikTok allowed for innovative engagement between nonprofit organizations and younger generations. During COVID-19, TikTok was specifically used to connect rather than inform or fundraise, as its fast-paced, tailored For You Page separates itself from other social media apps such as Facebook and Twitter. Some organizations offer new, positive-sounding alternative terminology to describe
7056-550: The bank developed and owned the Cosmopolitan of Las Vegas , after the casino's original developer defaulted on its borrowings. Deutsche Bank ran it at a loss until its sale in May 2014. The bank's exposure at the time of sale was more than $ 4 billion, and sold the property to Blackstone Group for $ 1.73 billion. On 3 January 2014, it was reported that Deutsche Bank would settle a lawsuit brought by US shareholders, who had accused
7168-561: The bank entered retail banking by introducing small personal loans. In the 1970s, the bank pushed ahead with international expansion, opening new offices in new locations, such as Milan (1977), Moscow , London , Paris , and Tokyo . In the 1980s, this continued when the bank paid U$ 603 million in 1986 to acquire Banca d'America e d'Italia . In 1972, the bank established its Fiduciary Services Division which provides support to its private wealth division . At 8:30 am on 30 November 1989, Alfred Herrhausen , chairman of Deutsche Bank,
7280-475: The bank of bundling and selling bad real estate loans before the 2008 downturn. This settlement came subsequent and in addition to Deutsche's $ 1.93 billion settlement with the US Housing Finance Agency over similar litigation related to the sale of mortgage-backed securities to Fannie Mae and Freddie Mac . Former employees including Eric Ben-Artzi and Matthew Simpson have claimed that, during
7392-672: The bank purchased the state's share of Universum Film Aktiengesellschaft ( UFA ). In 1926, the bank assisted in the merger of Daimler and Benz. The bank merged with Disconto-Gesellschaft in 1929 and rebranded itself Deutsche Bank und Disconto-Gesellschaft , sometimes referred to as DeDi-Bank. By 1930, Deutsche Bank & Disconto-Gesellschaft maintained a similar dominant position as before World War I, with 4.8 billion Reichsmarks in total deposits ahead of Danat-Bank (2.4 billion), Dresdner Bank (2.3 billion), Commerz- und Privatbank (1.5 billion), Reichs-Kredit-Gesellschaft (619 million), and Berliner Handels-Gesellschaft (412 million). In
7504-573: The bank's network spanned 58 countries with a large presence in Europe, the Americas, and Asia. It is a component of the DAX stock market index and is often referred to as the largest German banking institution , with Deutsche Bank holding the majority stake in DWS Group for combined assets of 2.2 trillion euros, rivaling even Sparkassen-Finanzgruppe in terms of combined assets. Deutsche Bank has been designated
7616-399: The basis that Deutsche may be forced to book another €3 billion to €4 billion of litigation charges in 2016." May 2017, Chinese conglomerate HNA Group became its biggest shareholder, owning 9.90% of its shares. However, HNA Group's stake reduced to 8.8% as of 16 February 2018. In November 2018, the bank's Frankfurt offices were raided by police in connection with investigations around
7728-401: The best of the newly minted workforce. It has been mentioned that most nonprofits will never be able to match the pay of the private sector and therefore should focus their attention on benefits packages, incentives and implementing pleasurable work environments. A good environment is ranked higher than salary and pressure of work. NPOs are encouraged to pay as much as they are able and offer
7840-400: The collateral was wiped out in a crisis was called the gap option. Ben-Artzi claims that after modeling came up with "economically unfeasible" results, Deutsche accounted for the gap option first with a simple 15% "haircut" on the trades (described as inadequate by another employee in 2006) and then in 2008 by a $ 1–2bn reserve for the credit correlation desk designed to cover all risks, not just
7952-565: The community; for example aid and development programs, medical research, education, and health services. It is possible for a nonprofit to be both member-serving and community-serving. Nonprofit organizations are not driven by generating profit, but they must bring in enough income to pursue their social goals. Nonprofits are able to raise money in different ways. This includes income from donations from individual donors or foundations; sponsorship from corporations; government funding; programs, services or merchandise sales, and investments. Each NPO
8064-456: The company is to transact banking business of all kinds, in particular, to promote and facilitate trade relations between Germany, other European countries and overseas markets. Prior to the founding of Deutsche Bank, German importers and exporters were dependent upon British and French banking institutions in the world markets—a serious handicap in that German bills were almost unknown in international commerce, generally disliked and subject to
8176-533: The consumption of open (and linked) data, by delivering a platform for publishing, consuming and reusing open data, as well as deploying open data applications. OpenDataMonitor, which provides users with an online monitoring and analytics platform for open data in Europe. It will provide insights into open data availability and publishing platforms by developing and delivering an analysis and visualisation platform that harvests and analyses multilingual metadata from local, regional and national data catalogues. Share-PSI
8288-769: The creation of the Deutsch-Asiatische Bank in Shanghai , in 1894, of the Banca Commerciale Italiana in Milan , and in 1898, of the Banque Internationale de Bruxelles . In addition, the bank rapidly perceived the value of specialist institutions for the promotion of foreign business. Gentle pressure from the Foreign Ministry played a part in the establishment of Deutsche Überseeische Bank in 1886 and
8400-430: The crisis, Deutsche failed to recognize up to $ 12 billion of paper losses on its $ 130 billion portfolio of leveraged super senior trades, although the bank rejects the claims. A company document of May 2009 described the trades as "the largest risk in the trading book", and the whistleblowers allege that had the bank accounted properly for its positions its capital would have fallen to the extent that it might have needed
8512-402: The diversity of their funding sources. For example, many nonprofits that have relied on government grants have started fundraising efforts to appeal to individual donors. Most nonprofits have staff that work for the company, possibly using volunteers to perform the nonprofit's services under the direction of the paid staff. Nonprofits must be careful to balance the salaries paid to staff against
8624-432: The election of the board, there are few inherent safeguards against abuse. A rebuttal to this might be that as nonprofit organizations grow and seek larger donations, the degree of scrutiny increases, including expectations of audited financial statements. A further rebuttal might be that NPOs are constrained, by their choice of legal structure, from financial benefit as far as distribution of profit to members and directors
8736-475: The establishment and management of NPOs and that require compliance with corporate governance regimes. Most larger organizations are required to publish their financial reports detailing their income and expenditure publicly. In many aspects, they are similar to corporate business entities though there are often significant differences. Both not-for-profit and for-profit corporate entities must have board members, steering-committee members, or trustees who owe
8848-682: The evidence for the impact of open data; research and development of tools and standards to assist producers, publishers and users of open data; examining the implications, challenges and opportunities of deploying open data at web scale; and applications of open data to address or illuminate real-world problems. Ongoing projects include: Mapping and understanding the scale of open data's potential value in business, with reports to date analysing open data companies that create products and services, and how three big businesses – Thomson Reuters , Arup Group and Syngenta create value with open innovation. Data-and-Platform-as-a-Service (DaPaaS), which simplifies
8960-737: The fast-growing industrial economies of the Rhineland and Silesia respectively; it eventually acquired the two banks in 1914 and 1917 respectively. Joint ventures were symptomatic of the concentration then under way in the German banking industry. For Deutsche Bank, domestic branches of its own were still something of a rarity at the time; the Frankfurt branch dated from 1886 and the Munich branch from 1892, while further branches were established in Dresden and Leipzig in 1901. In 1889, Deutsche Bank participated in
9072-456: The former country's leading bank. On 26 March 1938 the latter was coerced to enter a "friendship agreement" with Deutsche Bank, by which the latter secured a presence in its board of directors. Creditanstalt executive Louis de Rothschild was immediately arrested and imprisoned, deprived of his position and property, then released upon payment of $ 21,000,000, believed to have been the largest bail bond in history for any individual, and migrated to
9184-513: The fund. Following Germany's defeat in World War II , the Allied authorities, in 1948, ordered Deutsche Bank's break-up into regional banks. These regional banks were later consolidated into three major banks in 1952: Norddeutsche Bank AG; Süddeutsche Bank AG; and Rheinisch-Westfälische Bank AG. In 1957, these three banks merged to form Deutsche Bank AG with its headquarters in Frankfurt. In 1959,
9296-553: The gap option but actively mismarking the value of their trades. In 2008, Deutsche Bank reported its first annual loss in five decades, despite receiving billions of dollars from its insurance arrangements with AIG , including US$ 11.8 billion from funds provided by US taxpayers to bail out AIG. Based on a preliminary estimation from the European Banking Authority (EBA), in late 2011, Deutsche Bank AG needed to raise capital of about €3.2 billion as part of
9408-429: The gap option. In October 2008, it stopped modeling the gap option and just bought S&P put options to guard against further market disruption, but one of the whistleblowers has described this as an inappropriate hedge. A model from Ben-Artzi's previous job at Goldman Sachs suggested that the gap option was worth about 8% of the value of the trades, worth $ 10.4bn. Simpson claims that traders were not simply understating
9520-467: The investment banking division to Deutsche Bank private wealth division with Rosemary Vrablic , formerly of Citigroup , Bank of America , and Merrill Lynch , becoming Trump's new personal banker at Deutsche Bank. In 2007, the company's headquarters, the Deutsche Bank Twin Towers building, was extensively renovated for three years, certified LEED Platinum and DGNB Gold. In 2010,
9632-401: The lexicon include: Data that is closed (only accessible by its subject, owner or holder); data that is shared (with named access – data that is shared only with named people or organisations, group-based access – data that is available to specific groups who meet certain criteria, and public access – data that is available to anyone under terms and conditions that are not ‘open’); and data that
9744-517: The mission. The Open Data Institute provides in-house and online, free and paid-for training courses. ODI courses and learning materials cover theory and practice surrounding data publishing and use, from introductory overviews to courses for specific subject areas. ODI 'Friday lunchtime lectures' cover a different theme each week surrounding the communication and application of data, and usually feature an external speaker. In order to bring open data's benefits to specific areas of society and industry,
9856-511: The money paid to provide services to the nonprofit's beneficiaries. Organizations whose salary expenses are too high relative to their program expenses may face regulatory scrutiny. A second misconception is that nonprofit organizations may not make a profit. Although the goal of nonprofits is not specifically to maximize profits, they still have to operate as a fiscally responsible business. They must manage their income (both grants and donations and income from services) and expenses so as to remain
9968-430: The money’ report focused on the UK peer-to-peer lending (P2P) market, revealing ‘lending by region’ using data from P2P platforms. Through research, open discussion and sector-focused events, the ODI is identifying challenges, solutions and global priorities in improving agriculture and nutrition with open data. ‘How can we improve agriculture, food and nutrition with open data?’, an ODI report written in partnership with
10080-591: The non-distribution constraint: any revenues that exceed expenses must be committed to the organization's purpose, not taken by private parties. Depending on the local laws, charities are regularly organized as non-profits. A host of organizations may be nonprofit, including some political organizations, schools, hospitals, business associations, churches, foundations, social clubs, and consumer cooperatives. Nonprofit entities may seek approval from governments to be tax-exempt , and some may also qualify to receive tax-deductible contributions, but an entity may incorporate as
10192-445: The nonprofit sector today regarding newly graduated workers, and to some, NPOs have for too long relegated hiring to a secondary priority, which could be why they find themselves in the position many do. While many established NPOs are well-funded and comparative to their public sector competitors, many more are independent and must be creative with which incentives they use to attract and maintain people. The initial interest for many
10304-411: The organization a fiduciary duty of loyalty and trust. A notable exception to this involves churches , which are often not required to disclose finances to anyone, including church members. In the United States, nonprofit organizations are formed by filing bylaws, articles of incorporation , or both in the state in which they expect to operate. The act of incorporation creates a legal entity enabling
10416-452: The organization to be treated as a distinct body (corporation) by law and to enter into business dealings, form contracts, and own property as individuals or for-profit corporations can. Nonprofits can have members, but many do not. The nonprofit may also be a trust or association of members. The organization may be controlled by its members who elect the board of directors , board of governors or board of trustees . A nonprofit may have
10528-463: The organization's sustainability. An advantage of nonprofits registered in the UK is that they benefit from some reliefs and exemptions. Charities and nonprofits are exempt from Corporation Tax as well as the trustees being exempt from Income Tax. There may also be tax relief available for charitable giving, via Gift Aid, monetary donations, and legacies. Founder's syndrome is an issue organizations experience as they expand. Dynamic founders, who have
10640-550: The public and private sectors have enjoyed an advantage over NPOs in attracting employees. Traditionally, the NPO has attracted mission-driven individuals who want to assist their chosen cause. Compounding the issue is that some NPOs do not operate in a manner similar to most businesses, or only seasonally. This leads many young and driven employees to forego NPOs in favor of more stable employment. Today, however, nonprofit organizations are adopting methods used by their competitors and finding new means to retain their employees and attract
10752-483: The receipt of significant funding from large for-profit corporations can ultimately alter the NPO's functions. A frequent measure of an NPO's efficiency is its expense ratio (i.e. expenditures on things other than its programs, divided by its total expenditures). Competition for employees with the public and private sector is another problem that nonprofit organizations inevitably face, particularly for management positions. There are reports of major talent shortages in
10864-408: The sector in its own terms, without relying on terminology used for the government or business sectors. However, use of terminology by a nonprofit of self-descriptive language that is not legally compliant risks confusing the public about nonprofit abilities, capabilities, and limitations. Deutsche Bank Deutsche Bank AG ( German pronunciation: [ˈdɔʏtʃə ˈbaŋk ʔaːˈɡeː] )
10976-558: The sector. The term civil society organization (CSO) has been used by a growing number of organizations, including the Center for the Study of Global Governance . The term citizen sector organization (CSO) has also been advocated to describe the sector – as one of citizens, for citizens – by organizations including Ashoka: Innovators for the Public . Advocates argue that these terms describe
11088-496: The stake taken in the newly established Deutsch-Asiatische Bank three years later, but the success of those companies showed that their existence made sound commercial sense. By end-1908, Deutsche was by far the largest German joint-stock bank by total deposits, with a total of 489 million Marks ahead of Dresdner Bank (225 million), Disconto-Gesellschaft (219 million), Darmstädter Bank (109 million) and A. Schaaffhausen'scher Bankverein (72 million). At that time, Deutsche Bank
11200-486: The traditional domain noted in RFC 1591 , .org is for "organizations that didn't fit anywhere else" in the naming system, which implies that it is the proper category for non-commercial organizations if they are not governmental, educational, or one of the other types with a specific TLD. It is not designated specifically for charitable organizations or any specific organizational or tax-law status, but encompasses anything that
11312-402: The use of data as an art material, to question its deep and wide implications on culture, and to challenge our understanding of what data is and its impact on people and society, our economy and businesses, and the environment. ODI Associate Curator, Hannah Redler, selected ‘Data Anthropologies’ as Data as Culture's 2015–2016 theme, placing people at the centre of emerging data landscapes. For it
11424-429: The value of data. The ODI grew its network of businesses, startups, academic establishments and individuals to over 1,300 in 2015, and launched student membership in line with its goal to help provide lifelong data expertise for young people around the world. ODI Members (whether sponsors, partners or supporters) are all committed to unlocking the value of data, and are key to developing the ODI's professional network in
11536-573: The war, Deutsche Bank provided banking facilities for the Gestapo and, through its branch in Katowice , loaned the funds used to build the Auschwitz camp and the nearby IG Farben facilities. Deutsche Bank publicly acknowledged its involvement at Auschwitz in 1999. It also was a principal participant in the Nazi regime's gold transactions. Between 1942 and 1944, Deutsche Bank purchased 4,446 kg of gold from
11648-513: The world after UBS , Fidelity Investments , and the Japanese post office's life insurance fund. At the time, Deutsche Bank owned a 12% stake in DaimlerChrysler but United States banking laws prohibit banks from owning industrial companies, so Deutsche Bank received an exception to this prohibition through 1978 legislation from Congress. Deutsche continued to build up its presence in Italy with
11760-934: The world to boost economies, innovation, social impact and transparency using open data. As part of the Open Data for Development Network, funded by the International Development Research Centre, the ODI created the Open Data Leaders Network – a space for peer-learning. In 2015, the ODI worked with the Burkina Faso Open Data Initiative, who used open data to ensure that citizens had access to real-time, open results data for their freest and fairest presidential elections in nearly three decades. The ODI focuses on highlighting how data can enhance FinTech and banking and bring broad benefits to customers, regulators and industry. As part of
11872-522: Was a prime necessity for the establishment of credit for the German trade in what was then the world's money center. Deutsche Bank also took advantage of the Panic of 1873 by taking over a number of banks in liquidation, including the Berlin-based Deutsche Union which had itself consolidated a number of failed banks in the early 1870s. Major projects in the early years of the bank included
11984-796: Was a son of a cousin of Werner von Siemens . The bank initially operated from the first floor of a building at 21 Französische Strasse, then in 1871 moved to premises near the Berlin Stock Exchange , and in 1876 started building its massive head office complex on Mauerstrasse. The bank's first domestic branches, inaugurated in 1871 and 1872, were opened in Bremen and Hamburg . Its first overseas offices opened in Shanghai and Yokohama in 1872, and London in 1873, followed by South American offices between 1874 and 1886. The branch opening in London, after one failure and another partially successful attempt,
12096-420: Was announced, effective July 2015; he became sole CEO at the end of Fitschen's term. In January 2016, Deutsche Bank pre-announced a 2015 loss before income taxes of approximately €6.1 billion and a net loss of approximately €6.7 billion. Following this announcement, a bank analyst at Citi declared: "We believe a capital increase now looks inevitable and see an equity shortfall of up to €7 billion, on
12208-419: Was closely aligned with the bank's strategy of bolt-on acquisitions in preference to so-called "transformational" mergers. These formed part of an overall growth strategy that also targeted a sustainable 25% return on equity , something the bank achieved in 2005. On 1 October 2003, Deutsche Bank and Dresdner Bank entered into a payment transaction agreement with Postbank to have Postbank process payments as
12320-523: Was founded in 1870 in Berlin as a specialist bank for financing foreign trade and promoting German exports. It subsequently played a large part in developing Germany's financial services industry, as its business model focused on providing finance to industrial customers. The bank's statute was adopted on 22 January 1870, and on 10 March 1870 the Prussian government granted it a banking license. The statute laid great stress on foreign business: The object of
12432-520: Was killed when a car that he was in exploded while he was traveling in the Frankfurt suburb of Bad Homburg . The Red Army Faction claimed responsibility for the blast. In 1989, the first steps towards creating a significant investment-banking presence were taken with the acquisition of Morgan, Grenfell & Co. , a UK-based investment bank which was renamed Deutsche Morgan Grenfell in 1994. In 1995 to greatly expand into international investments and money management, Deutsche Bank hired Edson Mitchell,
12544-642: Was referred to as one of the four "D-Banks" (all of which had names starting with a D) that dominated German commercial banking, together with Darmstädter Bank, Disconto-Gesellschaft, and Dresdner Bank. During World War I and in its immediate aftermath, the operations of Deutsche Bank in Brussels, London, Tokyo and Yokohama were expropriated; conversely, its activity in the Ottoman Empire expanded considerably, and it greatly expanded its footprint in Germany. In 1919,
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