Nearly a Third of Charities Had Operating Deficits Last Year, Study Finds

The Chronicle of Philanthropy related that the recession is undermining the financial health of nonprofit groups, and nearly a third ended last year with a deficit. This is according to a new survey by the Nonprofit Finance Fund, which found that sixty-two percent of charities have less than three months’ worth of cash on hand to cover costs, and just 16 percent expect to be able to pay for their expenses this year and next. Read more here.