Recessions are no fun for nonprofits. Corporate givings tumble, people donate less, and foundations cut down grants. Some of the hardest-hit organisations in this economy have also been the most deserving of support.
But nonprofits, according to Michael Seltzer from PhilanTopic, are “survivors“. Nonprofits have traditionally faced much more capital constraints and their for-profit counterparts, and therefore can better adopt themselves to budget cuts. There is also the silverlining. A difficult environment brings forth creative approaches, such as new ways to fundraise, new incentive to improve capital efficiency, new opportunities to recruit senior leaders, …