Monday, October 6, 2008

Crash victims... Charities

Photo: Sophia with her daughters Faith, Hope, and Charity

When thinking about those adversely effected by the financial crisis, non-profits do not immediately spring to mind. However, they are feeling a double-whammy - hurt by the loss of corporate donations, as well as by reductions in individual giving...

Some incurable optimists look on the bright side, e.g. "... The bad news in the bad economy is that vitally important services may be closed or downsized. However, the good news is that some of the worst-run organizations will no longer be competing for donations and it will be easier for donors to choose which organization to support. Also, due to mergers, more efficient organizations will be operating..."

Wealthy Families Rethink Charitable Giving
Wall Street's woes worry charities, arts groups
Non-profits hurt by bad economy
Shockwaves: Fannie, Freddie, and Charities
Sifting through the ashes
Wall Street Crisis Will Affect Demands on the Nonprofit World -- and Its Work Force, Experts Say