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Financial Relief and Community Service: Helping Nonprofits Weather the Financial Crisis

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Publication Date: November 2008

Author(s): Elizabeth Boris

Special Collection: Presidential Advisory

Topic: Banking and finance (Philanthropy and nonprofit sector)

Keywords: Nonprofits; Community service; Presidential transition

Type: Brief

Coverage: United States

Abstract:

The financial crisis’ impact on nonprofits is not on policymakers’ radar screens. Bailouts for banks and corporations abound, but not a dime for nonprofits. Yet, these organizations are on the front lines being whipsawed by the downturn in the economy—their resources are shrinking just as demand for the many services they provide mounts. The time is ripe to consider immediate cash and credit relief for hard-hit organizations, along with a robust effort to enhance community service opportunities that would build skills, draw on experience, and benefit organizations and the communities they serve.