The NY Times reported that across the city, nonprofit groups that provide social services to New Yorkers are reeling, trying to fulfill their core missions as demand for those services rises and their ability to provide them shrinks. With government, foundation and individual grants down by as much as 50 percent — not to mention withering endowments or investments lost to Bernard L. Madoff — agencies are trimming and delaying programs and cutting staff, in essence contributing to the very problems they exist to fix.
According to a survey conducted by Baruch College and the Human Services Council, which represents some 750 nonprofit social service providers, more than half saw some reduction in government financing in the last fiscal year, with more than a quarter losing an entire contract. The survey, to be released Sept. 9, also found that 80 percent of the respondents lost private financing, and that 73 percent had no reserves like endowments or lines of credit. Read more here.
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