BY MIKE SPECTOR AND SHELLY BANJO
The turmoil on Wall Street could further curb a giving environment that was already slowing down.
The failure of Lehman Brothers Holdings Inc. and pain at other big firms threaten to cut into the corporate and individual donations that more than a million nonprofit organizations rely on for basic operations and charitable programs. It is particularly true in New York, where nonprofits rely heavily on the financial industry.
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.