Not for profit organizations both large and small from wall street to main street are feeling the impact on donations and fundraising as a result of the national current economic climate.The financial pinch will only deepen in the coming months given the potential of a Global recession now taking shape.
The potential impact is just now taking shape, because 2009 grants from many philanthropic foundations are still being set and the end-of-year holiday giving season is opening. Although it's difficult to draw broad conclusions from reports by individual charities, many non-profits say they are feeling an economic pinch.
"This is the worst fundraising environment I've ever worked in," says Jeffrey Towers, chief development officer for the American Red Cross, which won promises of $100 million from Congress this month after 2008's hurricanes, tornadoes and floods depleted the group's disaster-relief reserves.
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