Housing

Gloomy Outlook for Nonprofits

It’s going to be a while before we begin hearing some good economic news, particularly as the current economic landscape reverberates within the non-profit world. And with that, a forum […]

It’s going to be a while before we begin hearing some good economic news, particularly as the current economic landscape reverberates within the non-profit world.

And with that, a forum held Wednesday on the impact of the crisis on nonprofits and social service delivery in New York City did not seek to mince words or leave anyone asking “tell us how you really feel?”

It basically reported that upwards of 100,000 non-profit organizations could perish in this financial crisis.

Crain’s report on Wednesday’s forum, hosted by the Foundation Center, the New York Regional Association of Grantmakers, United Way of New York City, and Citigroup, indicated that the “financial crisis is already resulting in a steep drop in funding for these organizations, forcing them to cut their budgets, and eliminate staff and programs,” pointing to testimony offered by according to Paul Light, professor of public service at New York University. Light, according to the report, “called on foundations to liquidate their assets to create a safety net for social services groups, or at the very least increase their annual pay-out rates from the current 5 percent, as one step toward solving the sector’s problems.”

We’ve reported here on Rooflines in the past of the prospect of CDCs and other non-profit organizations merging several functions, such as financial management and even housing development, as a pragmatic operations shift in this gloomy economy. And while Crain’s reports that experts at the forum acknowledged a reluctance in the non-profit world to merge, they suggested they should collaborate on back office support and health care plans to save money.

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