When the finance committee chair of Youth Horizons Inc. announced that in just weeks the organization wouldn’t have enough cash to meet payroll and didn’t know when the cash situation would improve, members of the board of directors were speechless. After two years of deficits, the cash reserve had been spent and the finance committee had run out of options. Soon board members jumped in with questions: What happened to all the grant applications that had been submitted? Wasn’t there a fundraising event planned? How could this have happened, and what should the board do now?
In this issue of the Quarterly we begin to chronicle the combined effects on nonprofits of the economic downturn and a shift in presidential administrations. What kinds of challenges are nonprofit managers facing and what decisions are they making in the face of cascades of both problems and opportunities?
As the economy continues to sputter and the Obama administration completes its first 100 days, nonprofits face unprecedented challenges. Nonprofit leaders reveal their strategies to survive and thrive.
With foundation payouts declining, what are the financial prospects for nonprofits in 2009–2010? Editors’ Note: This article includes two tables and a sidebar not available in the digital version. Please purchase a reprint of this article for full content.
FROM THE ARCHIVES
We have seen too many sudden closings of nonprofits lately. This article provides some do’s and don’ts of closing your doors with honor and integrity. Editors’ Note: This article contains sidebars and tables not available in the digital version. Please purchase a reprint for full content.