Sampling of Nonprofit Financial Troubles and Responses
Each day brings new stories of charities struggling with financial pressures arising from the current economic downturn. Here is a nonscientific sampling of recent stories from around the country:
- In the Southeast, the Atlanta-Journal Constitution reports that local social service programs are facing the double whammy of rising demand and shrinking revenues. For example, the Center for Family Resources, which provides a variety of services to low-income families, saw a 30 percent increase in the number of people seeking its assistance in 2008 but faces a more than 10 percent budget cut in 2009 because of reduced donations that has led to a hiring freeze, layoffs, and reduced employee benefits. The article cites similar trends for other social service organizations.
- In the Midwest, the Columbus Dispatch reports that United Way of Central Ohio is delaying its initial decisions on applications for next year’s funding by two months in the face of an approximately five percent shortfall in donations as compared to the organization’s current fundraising goal of $56.1 million by the end of this month. The agency still hopes to make final funding decisions by November 2009.
- In the West, the [hospitals?].
- In the South, [other types of nonprofits?].
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