Rockefeller Philanthropy Advisors

The Wall Street Journal
April 23, 2009

Yes, times are tough. But some companies are doing just fine. Here’s how they are pulling it off.

Helping Themselves
With fewer donations and declining investments, nonprofits are thinking creatively about cutting costs and raising revenue

When your mission is serving the needy, tough times can be doubly difficult: More people need help, but you have fewer resources.

Nonprofit organizations — facing cuts in government aid, investment losses and a decline in donations — have been experimenting with new ways to stay afloat. Besides cutting costs and eliminating waste, they’re thinking more creatively about how to use volunteers, garner new donations, strengthen ties with existing donors and create projects that generate additional income.

“Necessity is the mother of invention,” says Melissa Berman, president of New York-based Rockefeller Philanthropy Advisors. “As financial resources dry up, people have the impetus they need to be creative about where to get help and how to keep their mission going.”

Read the full article.

This entry was posted on Thursday, April 23rd, 2009 at 12:42 pm.