Nonprofits brace for slowdown in giving
Source: The Wall Street Journal Author: Mike Spector Officials at charities are trying to devise creative ways to stand out. They are making urgent appeals through direct-mail and email campaigns and taking to the airwaves. Charities also are gearing up to tap their wealthy board members and other well-off supporters for extra cash. If they fail, charities may have to cut staff or seek loans. At Covenant House New York, the nation's largest adolescent-care agency, which serves homeless, runaway and at-risk youths, board members convened Thursday and discussed a possible "doomsday" scenario in case they lose upwards of 40% of their income, said Georgia Boothe, the nonprofit's associate executive director. The charity needs to raise about $3 million through direct mail in December, she said, adding, "We're worried." Direct-mail giving in July was off 15%, she said. New York-based City Harvest, which feeds the hungry and has counted Lehman among its top five corporate donors, had set a goal of raising $5.7 million between November and January and $3 million in December alone. Much of that was expected to come from Wall Street bonuses. "Things have changed drastically in the last week or two," said executive director Jilly Stephens, who said the need for her group's services is rising. "We're heading into a period of the unknown." Still, she said she was encouraged that about 525 people turned out for the group's first silent auction of photographs on Thursday night. The event raised about $217,000. Gordon J. Campbell, president and [...]