December 11, 2008
Economy Has Harmed Finances of Many Charities
More than half of the charities in a new national survey say the country's economic woes have led to cuts in the money they receive from private and government sources, and a quarter of those surveyed report that they have already obtained a line of credit to keep up with expenses.
The survey demonstrates how sharply and quickly nonprofit groups have been affected by the financial crisis, says William Foster, a partner at the Bridgespan Group, the nonprofit consulting organization
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