Friday, September 7, 2007
Will Market Woes Effect Charitable Contributions?
An article from the Chronicle of Philanthropy indicates that the current fluctutations in the market, and the perceived impending downturn of the stock market could substantially effect the fund-raising abilities for tax exempt entities, the heart and soul of charitable entities.
“A big market downturn would certainly pose problems for both capital campaigns and big grant requests,” says Melissa A. Berman, president of Rockefeller Philanthropy Advisers, a New York nonprofit group that helps foundations and wealthy donors manage their giving.
What’s more, she says, “there could be trouble ahead for charities even without a sharp dip in stock values. The real challenge is intense market volatility, which creates a lot of uncertainty. Uncertainty makes many people hesitate to make a commitment.”
Continue reading the rest of the article here