A hospital foundation, a cancer center, a nursing school and an air ambulance company were listed as known creditors of the Foundation for New Era Philanthropy, a Radnor, Pa.-based charity that filed for bankruptcy protection last week.
The bankruptcy petition, filed in Philadelphia, was submitted after allegations surfaced that the charity may have violated securities laws.
The creditors' list included the University of Pennsylvania's cancer center and its school of nursing in Philadelphia; Ephrata (Pa.) Community Hospital Foundation; and Mercy Medical Airlift, a charitable air transport firm based in Manassas, Va. The amounts owed to each creditor weren't revealed.
According to The Wall Street Jour, New Era's Chapter 11 filing shows $80 million in assets and $551 million in liabilities.
The Securities and Exchange Commission is investigating whether New Era was running an illegal "Ponzi" scheme in which it promised to double investments made by individuals and charities.
Grant recipients include a small number of hospitals and health systems.
According to a document filed with Pennsylvania's Department of State, eight hospitals and systems received money from New Era in 1993 in amounts ranging from $2,000 to $150,000. The gifts represented a tiny fraction of New Era's total grantmaking of $34.6 million for 1993.