BY MARK HRYWNA
Nonprofits can expect to get hit from all sides when it comes to the most recent meltdown in the financial sector.
Douglas Bauer, senior vice president at Rockefeller Philanthropy Advisors, calls it a “triple whammy” for nonprofits as a result of the historic collapses of some of the nation’s oldest financial service firms. The “triple whammy” is the potential decline in revenue for nonprofits from three major players - government, corporate and individual donors - all stemming from the same crisis: the housing and subprime mortgage market collapse.