April 9, 2009
Majority of Charities Face Financial Stress, Survey Finds
The recession is undermining the financial health of nonprofit groups, nearly a third of which ended last year with a deficit, according to a new survey.
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 their expenses this year and next.
Many of those nonprofit organizations "were not necessarily robust going into this," said Clara Miller, president of the Nonprofit Finance Fund, which
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