Thursday, October 30, 2008

Churches Aren't the Only Ones Feeling the Heat

Today, the Chronicle of Philanthropy reports that various nonprofit leaders express concerns about the financial health of nonprofits.

See story excerpt below -

Eleven out of 40 senior financial officers at charities around the country said that they expect their organization’s financial prospects to worsen in the next six months, according to a new survey. And eight of the charity officials said they expect the size of their group’s staff to shrink over the next six months.

Grant Thornton, a Chicago consulting and accounting company, conducted the survey, which was mostly geared towards for-profit business leaders, in September. Forty chief financial officers and senior comptrollers at nonprofit organizations participated, though, and Grant Thornton broke out their responses from the roughly 540 others.

For the full story, please click here - The Chronicle of Philanthropy.


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