Wednesday, October 22, 2008

Due to Sudden Downturn in U.S. Economy, Grant Foundations Offer Emergency Grants for Charities

On October 22, 2008, the Washington Post reported that the demand for services offered by traditional charities that offer food, clothing, shelter and other basic necessities is so strong and unexpected that grant foundations are offering emergency grants to some of these basic needs organizations.  Here is an excerpt from the article:

With the financial crisis increasing pressure on the Washington area's social safety net, the Community Foundation for the National Capital Region has decided to award $526,000 in emergency grants to shore up charities that provide food, clothing, shelter and other vital services to vulnerable residents.

The grants, to be announced today, will help more than 40 nonprofit organizations across the region. The funding comes at a perilous time for many service charities, which have reported a rise in demand for their assistance during the past year. They say they are bracing for a shortfall in donations during the holidays, when they normally raise as much as half of their annual operating revenue.

"Everybody is like a cat on a hot tin roof waiting to see what it's going to look like," Terri Lee Freeman, president of the Community Foundation, said of nonprofit leaders. "All of them say that demand is going up, cost of doing business is going up and they're very nervous that funding is decreasing."

For the entire story, see "With Coffers Low, Charities to Get Emergency Grants" in the October 22, 2008, issue of the Washington Post.

DAB

http://lawprofessors.typepad.com/nonprofit/2008/10/due-to-sudden-d.html

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