Friday, September 18, 2009

Social-Service Charities Face Severe Financial Pressures, N.Y. Study Reveals

The Chronicle of Philanthropy reported that social-service charities are severely strained — and the worst may be yet to come.

Those were the most common refrains from leaders of the 244 New York City social-services charities polled in June.

Seventy-three percent of the charity leaders reported drops in private donations, 62 percent have seen dips in government support, and 75 percent have no endowment nor line of credit to get them through the tough times.

The survey — part of a study by Baruch College’s School of Public Affairs and the Human Services Council, both in New York — found that layoffs have become widespread.

Fifty-three percent had laid off employees in the past year, according to the study. Sixteen percent shed more than 15 percent of their work force. Read more here.

1 comment:

Centennial College said...

Hey Andrew,

Nice information thanks for sharing it and also want to thanks for the resource I got more information from there regarding this issue which is important to know.


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