July 2, 2009
Worst-Case Scenarios
Charities that prepared contingency plans are faring better as the recession rages, say experts
As the recession deepened last November, executives at the Women's Lunch Place, a charity in Boston, took a look at its $2.1-million budget and saw nothing but red ink.
In just the first five months of their fiscal year, a combination of declining donations and deferred grants had left the charity nearly $400,000 behind plan.
The charity's leaders didn't panic. They made some modest cuts, froze hiring, and perhaps most important, put in place a contingency plan — a
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