October 29, 2009
Red Cross Retools Its Fund Raising to Overcome a Troubled Financial Picture
The last decade has been a financial roller coaster for the American National Red Cross. It raised $1-billion in a matter of weeks after the 2001 terrorist attacks and more than $2-billion in short order following Hurricane Katrina, but it has been plagued by deep deficits and forced to borrow money to finance its relief services.
The charity's rank on the Philanthropy 400 reflects its shifting fortunes. Reaching No. 1 or 2 in the years of the terrorist attacks and Katrina donations,
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