December 20th, 2009 by Admin
Originally posted in The Washington Times on December 16, 2009.
By Christopher Gergen and Aaaron K. Chatterji
Even as the economy shows glimmers of recovery, a recent survey by the nonprofit consulting firm Bridgespan reminds us that the social sector has been particularly hard hit by this recession. The survey results, while sobering, also provide important management lessons for social, business and government leaders.
First, the numbers. Among the 100 responding organizations, 93 percent said they were experiencing the effects of the downturn – up from 75 percent last year. A reduction in charitable giving, foundation grants and government cuts also has taken its toll, with 80 percent of nonprofits saying they are working with less funding this year and 48 percent reporting that they are eating into their cash reserves to make up the deficit, up from 19 percent…(read more).