He said getting an email or phone solitication for a Newtown-related charity should be a red flag. Neither of these new charities are doing that.
The University of Connecticut is also raising money for college scholarships, though its focus is slightly different. UConn's scholarships are designed for siblings of the dead children, the children of the women killed at the school, or, if there is more money than is needed for those individuals, children who currently attend Sandy Hook Elementary.
The scholarships would supplement government grants and replace loans in a financial aid package for those who are admitted to UConn in years to come.
Currently, there are 157 undergraduates at the university from Newtown, though the majority would not have gone to Sandy Hook Elementary, since there are four elementary schools in town.
A UConn spokeswoman, Stephanie Reitz, said as of 4 p.m. Thursday, there were more than 1600 donors, and more than $325,000 pledged and received.
The largest recipient of donations has been the United Way of Western Connecticut, which established the Sandy Hook Support Fund. As of 4 p.m. Thursday, had received $2 million from checks, online donations and texts.
"The outpouring of support that we have received, not just from the local community or even across this community but around the world has been humbling," said Isabel Almeida, vice president for marketing. And it's not slowing down as the days pass. "I think it's actually speeding up," she said. More than $400,000 came since midday Wednesday.
"The whole world is in mourning, and everyone stands with us in this time of need, and it's heartwarming. It's overwhelmingly beautiful and makes you proud to be an American. We really do get the sense that the whole world is hugging us right now."
The United Way will not decide what the money is spent on, it will recruit Newtown residents to make those decisions.
Corporate response is just beginning, but it's likely to be substantial.
Morgan Stanley donated $150,000, and is matching roughly 40 percent of its employees' donations, with a cap per employee of $4,000. Some of that will pay for mental health counseling for victims' families, and some will go to a nonprofit that treats children with mental illness. Not all of the recipients have been decided.
Over $1 million has been donated by Morgan Stanley employees.
"I know some people have given $10,000," said spokesman Wesley McDade. Three Morgan Stanley workers lost relatives in the massacre.