www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

   

Charities brace for Wall Street decline

(Agencies)
Updated: 2008-03-18 08:56

NEW YORK -- At Bottomless Closet, a New York non-profit that helps women move from welfare to jobs, Kendall Farrell said she may cut back on workshops and look elsewhere for funds as Wall Street money dries up.

With layoffs, buyouts and cutbacks rippling through financial markets, charities that rely on donations from high-paid professionals are bracing for a slump.

Thirty percent of charitable giving comes from the richest one percent of the population which includes many Wall Street professionals, according FSG Social Impact Advisors in Boston.

"When the economy goes down people tend to tighten their purse strings, and oftentimes charity and philanthropy can be the first thing that is affected," said Farrell, the executive director of Bottomless Closet.

Several charities will miss Bear Stearns Co, which agreed to be acquired by JPMorgan Chase & Co for $2 per share on Sunday.

Since the 1970s the investment house has required all senior managing directors to give at least four percent of their annual incomes to charity.

The charitable trust of Bear Stearns Chairman James Cayne has been an important donor for Bottomless Closet.

Fourteen months ago, Bear Stearns shares traded at $160 each. Their sale to JPMorgan Chase for $2 has vastly devalued Cayne's 4.9 percent stake in the company. His trust also holds thousands of Bear Stearns shares.

Corporate donations invariably drop in a recession.

Teen Lifeline, a crisis hotline for teens in Phoenix, is focusing its appeals on individual donors, considered to be more reliable givers in good times and bad.

"Too many times we have been dependent on government and corporate donations and grants, and so more and more non-profits are going back to individual donors who are more passionate and connected to your cause," said Bill Manson, development director of the Arizona non-profit.

INDIVIDUALS STAY LOYAL

"Private donors stay more connected to you, whereas corporations say, 'We have a budget'," he said.

Gifts of stock to charities have become more popular in recent years but their value declines as markets slide.

Smaller charities may suffer from a recession disproportionately, said Susan Raymond, of Changing Our World, a consultant on strategic planning for non-profits. Those with a more diverse funding base are better equipped to survive.

"It can have an out-sized effect on a small community based non-profit, but a larger non-profit can afford to wait it out," she said.

Donations have already declined since late 2007 when the housing slump deepened, according to Michael Nilsen of the Association of Fundraising Professionals.

"I'm not hearing anybody scream yet, but people are definitely concerned," he said.

In the last economic slowdown, charitable donations fell only mildly but took three years to bounce back. They dropped by 2.2 percent from 2000 to 2001 around the time of the September 11 attacks, continued to fall slightly for the next two years but jumped almost 7 percent between 2003 and 2004, Raymond said.



Top World News  
Today's Top News  
Most Commented/Read Stories in 48 Hours
主站蜘蛛池模板: 精品视频一区二区三区四区 | 一区二区三区欧美视频 | 久久久久国产精品免费网站 | 日韩欧美色综合 | 久草a在线 | 孕妇孕交视频 | 女人夜色黄网在线观看 | 国产高清在线精品一区二区三区 | 欧美高清在线视频在线99精品 | 成人免费福利网站在线看 | 欧美成人tv在线观看免费 | 精品国产a | 免费国产a | 一级一黄在线观看视频免费 | 国产亚洲高清不卡在线观看 | 99久久国产综合精品成人影院 | 99精品国产一区二区三区 | 国产欧美日韩精品第二区 | 最新国产一区二区精品久久 | 日韩三级欧美 | 亚洲毛片免费在线观看 | 在线观看日本www | 一级毛片不卡免费看老司机 | 91视频一88av| 日韩在线视频中文字幕 | 国产高清精品自在线看 | 欧美在线视频免费 | 国产系列在线观看 | 日本视频播放免费线上观看 | 国产爽的冒白浆的视频高清 | 精品一区二区久久 | 99国产精品免费观看视频 | 日本理论在线播放 | 成年女人看片免费视频播放器 | 欧美亚洲国产精品久久久 | 国产一区欧美二区 | 国产免费一区二区三区在线观看 | 美女被躁免费视频软件 | 欧美成人免费大片888 | 看全黄男人和女人视频 | 美女被免费视频的网站 |