MediaWatch: The Troubled Economy
Many charities are already worried about how to manage finances, raise money, and keep up with the ever growing demand for services. We’ve brought you some posts on things to think about in these tough times and will continue to do so. We also think it is important to bring you some of the philanthropy stories making news. The more knowledgeable, the easier to navigate the challenge.
from The Chronicle of Philanthropy:
As lawmakers in Washington debate how to handle America’s financial crisis, social-service charities across the country are busy facing what leaders call dramatic and unprecedented increases in demand for help.
The slowing economy, a rising unemployment rate, spikes in food and fuel costs, and the decline in the housing market have social-services providers worried about their ability to raise enough money to meet demand.
from The Philadelphia Inquirer:
Last year in the United States, charitable giving reached an all-time high of $306 billion – impressive in a miserable economy.
In fact, when adjusted for inflation, donations were up in every sector. In the arts. Health. Culture. Religion. Animal care. The environment.
But that was last year. Today, as the American economy treads onto new and frightful terrain, many charities are bracing. In the philanthropic marketplace, the stab of a failing economy can take six months to be felt, because corporations, foundations, and other big givers are still making previously scheduled donations, even as financial conditions deteriorate.
from The Montreal Gazette:
Some Montreal organizations that collect food for the needy say donations are down almost 30 per cent this year and they fear the United States financial crisis could result in fewer donations as the busy Christmas season nears.