Financial Crisis Outlook
MapShot: EFC Members
News
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MapShot: Poverty Reduction
Philanthropy Forecast Some Some EFC members have publicly announced or communicated to us how they are responding to the economic crisis. Here we've compiled an overview of these announcements and related news from members own website and other sources.
From the Trenches
Practical advice on dealing with a crisis was the topic of discussions which drew some 200 representatives from French foundations to the annual conference of the Centre Français des Fondations, hosted in Paris on 2 April 2009.
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CommentaryFoundations in a time of crisisBy Luc Tayart de Borms, Managing Director of the King Baudouin Foundation
These are stressful, challenging times for everyone - not least for foundation managers, boards and donors. Banks, businesses and even governments fail; equity markets and portfolios plummet, and long, painful recessions in Europe, the US and elsewhere are forecast. Some foundations have had to close their doors. As a foundation manager reflecting on the current financial crisis, a few thoughts occur to me as we try to make our way forward - hopefully to better times.
Trusting in equities: A model of madness?By Jackie Turpin, Head of Finance, Joseph Rowntree Charitable Trust
Despite the credit crunch and recent market falls, the Trustees
of the Joseph Rowntree Charitable Trust have decided to
maintain their policy of investing almost exclusively in equities
and to uphold their current spending levels. Is this a case of
madness or are they, to paraphrase Rudyard Kipling, keeping
their heads when all about them are losing theirs?
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ReportsThe Global Economic Downturn, Philanthropy and NonprofitsBy Helmut K Anheier, Centre for Social Investment, University of Heidelberg & Center for Civil Society, UCLA
That the global financial crisis is already impacting foundations and nonprofits is clear to everyone who follows daily reports of cancellations of charity drives, closings of programs, and even bankruptcies, or learns about economic troubles at one
philanthropic institutions or another. It is also clear that the crisis’ impact is going to spread and deepen for some time to come. Less clear is for how long the crisis and its fallout will last; and especially unclear is what the crisis will ultimately mean for nonprofit and philanthropic policy-makers, leaders and managers. How could they
respond to growing uncertainty in the sector itself as well as in the various fields in which nonprofits and philanthropies operate?
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Created in partnership with the Foundation Center
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