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: 日韩无砖专区体验区 | 久久综合久久88 | 97在线播放| 性日韩精品 | 成人毛片国产a | 日韩高清在线二区 | 日韩中文字幕视频在线 | 99久久综合狠狠综合久久一区 | 亚洲天堂美女视频 | 欧美一级大尺度毛片 | 国产成人综合日韩精品无 | 久久精品免费全国观看国产 | 亚洲精品美女国产一区 | 全部免费毛片在线 | 国内久久久 | 中文字幕日韩一区二区不卡 | 久久久9视频在线观看 | 欧美怡红院在线 | 一级特黄aaa免费 | 男人的天堂精品国产一区 | 亚欧美视频 | 99久久国产免费 - 99久久国产免费 | 请看一下欧美一级毛片 | 欧美一级二级三级 | 亚洲一区浅井舞香在线播放 | 欧美激情特级黄aa毛片 | 日韩欧美在线观看视频一区二区 | 91精品国产91久久久久青草 | www中文字幕| 亚洲成年人在线观看 | 日韩亚洲一区二区三区 | 久久一区二区三区99 | 中文字幕一区二区三区精品 | 国内自拍在线视频高清 | 国产成人经典三级在线观看 | 国产亚洲一区二区手机在线观看 | 久久福利国产 | 92看片淫黄大片看国产片 | 国产男女交性视频播放免费bd | 日本a一级片 | 精品国产一区二区三区久久影院 |