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| Charitable Giving and the Economy/ Foundations and The Economy
Posted by Karen Eber Davis  on 4/9/2008, 10:41 am, in reply to "Re: so what is your plan to compensate?"
VIP Poster
Partially in response to this thread, I asked a number of Foundations about their responses to the current economic climate. How is the economy impacting them? Are they making any changes in grant giving? Or, do they anticipate making any? To find out, I queried a dozen foundations. Here are their helpful answers:
“While each downturn is unique, like post 911, the commonality for the foundations we administer is their decision to maintain their focus, because there are ongoing needs writes Debra Jacobs, Executive Director of the William G. and Marie Selby Foundation and eight other foundations. “The only change anticipated will be based on the performance of the investment portfolio, which may mean some may grant a bit less. Thank you for checking--hopefully the nonprofits you are working with are nurturing their individual donors, who tend to focus on their passions in downturns, rather than supporting causes that aren't their personal priorities. People who know the joy of giving don't stop giving, they just become more targeted.”
Eileen Coogan Boyle, President & CEO of Allegany Franciscan Ministries, Inc. in Palm Harbor, Florida answers, “We have not had a direct impact to date, other than of course the devastating effects on many of our nonprofit partners, and an increase in some of our own operating expenses. We determine out total grant expense through a method that adjusts for market volatility, so while our investments have struggled along with the market in the last few months, that is unlikely to impact our total grant making impact dramatically, in terms of total dollars available....”
The rest of the article can be found at www.kedconsult.com, under the tab Free Articles and then, New Room or http://www.kedconsult.com/news_article.php?id=12 (I'm guessing there is not enough space here to post it all.) Thank you for raising the question Aurelia!
Karen
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