While the bad economy has taken a toll on the philanthropist Sheldon Adelson’s business investments, he still plans to maintain his giving, which has hovered around $200-million a year, to medical research and Jewish causes. In an interview with the news organization, Mr. Adelson said he will fulfill his philanthropic commitments. However he won’t be making any new commitments during the tough economic times. “We have decided that we will keep more of our powder dry,” he said.
Full text article by Jacob Berkman is available via the Jewish Telegraphic Agency, 12/17/09.

Considering a Job in Fund Raising?

I know what you're thinking after reading that headline: "Search for a new job? I'm just thankful to have any job in this economy." With layoffs at companies in what appears to be nearly every industry, and economic news good one day and bad the next, everyone currently employed should be pleased. But you don't have to delay your job search just because of the uncertain news all around us. For those already in the fund-raising business who are ready to make a change, or those interested in entering the field, now is the moment to be actively searching.

Full text article by Jeffrey A. Schoenherr is available via The Chronicle of Higher Education, 11/20/09.

Americans' Spending Unlikely to Rebound Anytime Soon, Survey Finds

Economists and politicians are pointing to signs of recovery in the stock market and other economic arenas. But a new survey suggests that Americans’ discretionary income and purchases—as well as their charitable giving—are unlikely to return to pre-recession levels anytime soon.

Full text article by Holly Hall is available via The Chronicle of Philanthropy, 8.7.09.

Charitable giving declines in poor economy (8/6/09)

John Connell, chief financial officer with the Stern Center for Language and Learning, located on Allen Brook Lane in Williston, said foundation endowments have disappeared and grants have been cancelled.

“It’s been a difficult year for everyone,” Connell said. “We’re very much going to have to ride out the funding lull.”

Full text article by Tim Simard is available via The Williston Observer, 8.6.09.

Economy Pushes Fund Raisers' Confidence to New Lows

Confidence in the fund-raising climate continues to be at or near record lows, according to the latest biannual survey of fund raisers conducted by Indiana University’s Center on Philanthropy.

Full text article by Holly Hall is available via The Chronicle of Philanthropy,8.3.09.

Name Change Follows Top Donor's Default on Pledge at Florida Atlantic U.

Florida Atlantic University will remove the name of an insurance magnate, Barry Kaye, from its business school after Mr. Kaye said he would not fulfill a $16-million pledge, which had been the university's largest, the Sun Sentinel and Palm Beach Post reported.

Full-text posting is available via The Chronicle of Higher Education, 7.30.09.

52% of Charities Saw Drop in Spring Donations, Survey Finds

Just over half of charities saw a drop in donations between March and May of this year, the same portion as reported a decline between October and February, according to a survey by the nonprofit watchdog group Guidestar.

Full-text article by Caroline Preston is available via The Chronicle of Philanthropy, 7.23.09.

Lower Donations: Colleges, Universities Feel the Pain

Less than three weeks after their fiscal year ended, colleges and universities are sorting through the results of fundraising campaigns conducted during the worst recession since the Great Depression. Though the numbers are hardly catastrophic, many have seen declines in the smaller gifts used to cover annual expenses.

Full-text article by Childs Walker is available via The Baltimore Sun, 7.20.09.

Survey Finds Wealthy People Maintain Giving in Bad Times

Most wealthy Americans and Britons have maintained their giving levels over the past 18 months, the British newspaper the Telegraph reports.

Full-text article by Rachel Cooper is available via The Telegraph, 7.13.09.

Colleges Will See a Decline in Megagifts, Experts Predict

Speakers at the annual meeting of the Council for Advancement and Support of Education said that even when the economy recovers, the pace and number of big gifts to colleges will probably slow considerably. As a result, they said, major changes are needed in how campaigns are conducted to meet the challenges of the future.

Full-text article by Kathryn Masterson is available via The Chronicle of Higher Education, 7.13.09.

Fund Raising in Tough Times

Judith M. Jobbitt, of the consulting company Bentz Whaley Flessner, describes the fund-raising approaches that are getting results and offers advice for development offices as they work through the recession.

Listen to the complete interview via The Chronicle of Higher Education, 7.10.09.

How 5 Colleges Plan to Keep Growing in Hard Times

Momentum can stall in a time of diminished resources. For colleges on the fast track, leaders have shifted money around and made some hard choices to keep growing.

Full-text article by Kathryn Masterson is available via The Chronicle of Higher Education, 7.10.09. [Subcription required.]

Many Charities Change Investment Mixes

Seventy-one percent of American nonprofit organizations in a new survey say they are making changes in how they allocate their invested assets, in the wake of staggering losses brought on by the recession and market volatility.

Full-text article by Heather Joslyn is available via The Chronicle of Philanthropy, 7.8.09.

In Summer Hideaway for the Rich, Slump Is Visiting, Too

On Nantucket, businesses are struggling and home sales are slow as the recession creeps into an exclusive enclave.

Full-text article by Geraldine Fabrikant is available via The New York Times, 7.7.09.

Recession Adds to Challenges for Suburban Arts

Orchestras, theaters, museums and other arts organizations in the nation's suburbs face the challenge to attract customers — and donors — from the same population going to the Chicago Symphony, the Smithsonian or Broadway plays.

Full-text article by Jim Fitzgerald is available via Yahoo!News, 7.5.09.

Disease Charities Eye Market Turmoil's Impact on Fight for Cures

Nonprofit groups that serve people with illnesses are paying more and more attention to the financial world as turmoil in the stock and capital markets wreak havoc on the companies active in seeking cures.

Full-text article by Julie M. Donnelly is available via The Boston Business Journal, 7.3.09.

2 New Surveys Confirm Charity Leaders' Perceptions: Recession's Impact Runs Deep

Two surveys of charity officials released today show that 80 percent to 90 percent of nonprofit groups are under financial stress, The Chronicle of Philanthropy reports.

Corporate Philanthropy in a Changed Economy

At this month’s 2009 CECP Corporate Philanthropy Summit, attendees from FORTUNE 500 CEOs to corporate foundation presidents rolled up their sleeves to talk frankly about the new realities they face as they continue to engage in their philanthropy.

Full-text article by Elisabeth Anderson, Shannon Bond, Erica Pagano is available via OnPhilanthropy.com, 6.26.09.

Foundation Endowments Dipped in 2008, but Giving Rose

Grant makers’ endowments plunged by 26 percent last year as the stock market fell to levels not seen in years, says a new report from the Commonfund Institute.

Full-text article by Caroline Preston is available via The Chronicle of Higher Education, 6.25.09. [Subscription required.]

MetroMonitor: Tracking Economic Recession and Recovery in America’s 100 Largest Metropolitan Areas

A new study by the Brookings Institution examines the economic recovery of the major metropolitan areas in the U.S.

More information is available via The Brookings Institution, 6.23.09.

Arts Groups Seek Safety in Numbers

Eleven diverse downtown NYC arts organizations have come together to forge a collective and active response to the grim economic climate. Calling themselves the Lower Manhattan Arts Leaders, they meet once a week to plan strategy and exchange ideas about helping government policy makers and grant-making foundations become aware of the vital ways in which small arts groups feed the life of a neighborhood.

Full-text article by Charles Isherwood is available via The New York Times, 6.10.09.

Americans' Wealth Drops $1.3 Trillion

Fed report shows a decline of home values and the stock market cut the nation's wealth to $50.4 trillion.

Full-text article by Tami Luhby is available via CNN.com, 6.11.09.

Nonprofits Learn to Stretch a Buck

Many nonprofits scrambling to cover costs has prompted organizations big and small to consider new ideas — from different ways of approaching deep-pocketed donors, to marshalling volunteers, or creating alliances with groups that in some ways may have been rivals.

Full-text article by Kari Huus is available via MSNBC.com, 6.9.09.

Consumerism and the Economy

On Sunday, May 31, Nielsen CEO David Calhoun appeared on “The Wall Street Journal Report” with Maria Bartiromo to discuss everything from television and media measurement, to how food, fuel, and fear are impacting consumers trends around the world.

Watch the video via NielsenNews, 6.1.09.

Foundations Rethink Their Grant Making in Response to the Economy

Foundations facing increasing demand for aid at a time when their assets have sharply declined are beginning to rethink the size and the amount of grants they distribute to nonprofit groups and are giving more rather than less.

Full-text article by Stephanie Strom is available via The New York Times, 6.3.09.

FT 500 Companies

The Financial Times annual snapshot of the world’s largest companies, ranked by market capitalization, gives a remarkable picture of how corporate fortunes have changed in the past year.

Complete list is available via The Financial Times, June 2009.

Philanthropists Not Cutting Back (UK)

Nearly nine in ten philanthropists at a recent forum said that they planned to increase their giving (42 per cent) or maintain their current levels (45 per cent) over the next year, regardless of the economic downturn.

Full-text blog posting by Celina Ribeiro is available via ProfessionalFundraising(UK).com, 6.1.09.

Pimco’s Gross Says Harvard, Yale May Need to Alter Investments

Yale University and Harvard University may have to cut investments in hedge funds and private equity because the risks of holding the hard-to-sell assets outweigh the returns, said Bill Gross, co-chief investment officer of Pacific Investment Management Co.

Full-text article by Sree Vidya Bhaktavasalam and Gillian Wee is available via Bloomberg.com, 5.29.09.

One Third of Bay Area Nonprofit Groups Fear Closure Within the Year

One-third of San Francisco-area nonprofit groups are worried they may have to shut down in the next year, and 34 percent say they have no more than two months’ worth of operating funds in reserve, according to a survey by the regional United Way.

Full-text article by Maria Stokes is available via Live United, 5.28.09.

Charity's Declining Fortunes

In The Chronicle's annual survey of endowments, the 60 whose fiscal year ended in December suffered a median decline of 25.4 percent for 2008­ — ­meaning that half lost more and half lost less.

Full-text article by Noelle Barton and Ben Gose is available via The Chronicle of Philanthropy, 5.31.09. [Subscription required.]

U. of California Executives to Take 5% Pay Cuts

The president of the University of California and other senior executives, including campus chancellors, will take a 5-percent pay cut in the 2009-10 fiscal year, the president, Mark G. Yudof, announced in a letter late last week.

Full-text blog post by Charles Huckabee is available via The Chronicle of Higher Education, 5.31.09.

Donors Grow More Optimistic on the Economy

Battered by the recession, few donors plan to increase their giving anytime soon. But their confidence in the economy is now showing some signs of improvement — which could bode well for longer-term fund-raising efforts — according to a new survey cited by Prospecting, The Chronicle’s fund-raising column.

Full-text blog post by Holly Hall is available via Prospecting, 5.21.09.

Brandeis U. Suspends Payments to Staff Retirement Accounts

Brandeis University will halt payments to faculty and staff members’ retirement accounts for a year beginning July 1, a move that will cover most of the Massachusetts institution’s projected $8.9-million deficit.

Full-text article by Tamar Lewin is available via The New York Times, 5.21.09.

Smart Giving in a Troubled Climate

Strategies include providing direct service to individuals who need it rather than cash donations, or allowing future financial pledges be become immediately available to troubled charities.

Full-text article by David Cay Johnston is available via The New York Times, 5.21.09.

U.S. Economy: Leading Indicators Index Gains as Recession Eases

The index of U.S. leading economic indicators rose more than forecast and a manufacturing gauge improved in signs the deepest recession in five decades could end later this year.

Full-text article by Shobhana Chandra is available via Bloomberg.com, 5.21.09.

The Trouble with Public Colleges

Record applications. Soaring tuition. Tighter budgets. State U. may no longer be as great a deal or as easy a backup as it once was. Parents and kids, time to rethink your strategy.

Full-text article by Pat Regnier is available via CNN.com, 5.11.09.

Key Facts on Corporate Foundations

Charitable giving by the nation's nearly 2,500 corporate foundations remained virtually unchanged in 2008, according to Key Facts on Corporate Foundations. Giving totaled an estimated $4.4 billion last year. Corporate foundation giving in 2009 will most certainly decline; 51 percent of corporate foundations responding to the Center's survey said they expect to reduce their giving this year.

Arts and The Economy

The country's economic situation has hit hard across many industries, from automotive to business -- and even the arts. Interview with Michael Kaiser, president of the John F. Kennedy Center for the Performing Arts.

Full-text interview is available via The Washington Post, 5.5.09.

I'm Honored. No, Actually, I Can't Afford It.

With banks, brokerage houses, real estate firms, hedge funds and even law firms struggling for survival, benefit honorees are in short supply.

Full-text article by Judith H. Dobrzynski is available via The New York Times, 5.1.09.

Nonprofits Can Capitalize on Economic Downturn

Since the stock market began its downward spiral last fall, it has attempted to drag endowments, private donations, and government funding down with it. Now is the
time for nonprofits to view the economic slump as a golden opportunity to fortify themselves by building relationships with their donors.

Full-text article by Michelle Bononan and Naree Viner is available via The Pasadena Star-News, 5.2.09.

Foundations Plan to Shrink Grants

The number and size of foundation grants will likely decrease this year, and grants for upstart organizations will be hard to come by, according to a study by the Foundation Center.

The report Foundations Address the Impact of the Economic Crisis states that close to two-thirds of foundations expect to reduce the number and/or the size of grants they award in 2009.

Economic Signals Surpass Expectations

Demand for big-ticket manufactured goods and new home sales both were better than expected in March, raising some hopes that the long slides are slowly coming to an end.

Full-text article by The Associated Press is available via The New York Times, 4.25.09.

Public Colleges Consider Privatization as a Cure for the Common Recession

As state tax revenues plummet, some lawmakers and higher-education leaders are once again looking at loosening the bonds between state governments and public colleges to save money and give colleges the freedom to bolster their bottom lines in new ways.

Full-text article by Eric Kelderman is available via The Chronicle of Higher Education, 4.27.09. [Subscription required.]

Giving Around the World Faces Recession Snags

Economic woes threaten fledgling philanthropic efforts in Africa, Asia, and Latin America­ — but the crisis may also contain opportunities.

Full-text article by Ian Wilhelm is available via The Chronicle of Philanthropy, 4.20.09. [Subscription required.]

Williams Stuffs Students Into Dorms as Economy Pares Endowments

Experiencing investment losses, Amherst College, Cornell University, Johns Hopkins University and Bowdoin College are also planning to increase student populations, according to the schools’ admissions and public-relations officials. The institutions gain income because the expansions generally don’t require new buildings or faculty, said Michael McPherson, president of the Chicago-based Spencer Foundation, which funds education research.

Full-text article by Janet Frankston is available via Bloomerberg.com, 4.1.09.

How to Help Skittish Boards Keep Their Nerve in a Recession

Board members, responsible for matters both fiduciary and visionary, are concerned that their colleges not be caught flat-footed in confronting the substantial challenges ahead.

Full-text article by Steven Bahls is available via The Chronicle of Higher Education, 4.13.09. [Subscription required.]

Facing Hard Times, Shriners May Close 6 Hospitals

Shriners hospitals, which have provided free care since before the Great Depression, are considering closing a quarter of their facilities as donations stagnate, costs increase and the charity's endowment shrivels.

Full-text article by Katrina A. Goggins is available via The Associated Press, 4.11.09.

Charity Dries Up in U.K.

As a rule, charitable giving lags falls in other parts of the economy by about a year. Right on schedule, charities in the U.K. are seeing donations decrease, forcing them to lay off staff, seek new sources of funding or close entirely.

Full-text article by Tara Loader Wilkinson is available via The Wall Street Journal, 4.7.09.

Foundation Giving

Stock-market volatility has led to a sharp decline in the assets of big foundations, and many grant makers expect to decrease their giving this year.

Full-text article and survey findings are available via The Chronicle of Philanthropy, 4.7.09. [Subscription required.]

6 Reasons I'm Calling A Bottom and A New Bull

OK, so you're one of millions of investors impatiently waiting on the sidelines, sitting with $2.5 trillion cash under your mattress, waiting for the right moment, that signal screaming: "Bottom's in, start buying!" Yes, it'll go down again, but the bottom's in, thanks to a great March, possibly the third best month since 1950, so it's time to jump back in and buy, buy, buy!

Full-text article by Paul B. Farrell is available via MarketWatch.com, 3.30.09.

Consumer Confidence Up from Record Low; Job Worries Persist

Consumer confidence ticked up in March from a record low in February as severe worries about the economy and jobs in coming months slightly eased, according to the monthly Conference Board index reported Tuesday.

Full-text article by Ruth Mantell is available via MarketWatch, 3.31.09.

March Madness Might Bode Well for Stocks

Stocks remain on track to finish the month of March on a very upbeat note, posting their best monthly gains in nearly seven years and one of the top 20 months since 1950, which might bode well for the market a year from now, if history is any guide.

Full-text article by Nick Godt is available via MarketWatch, 3.31.09.

Don't Discount the Value or Distress of Nonprofits

The economic downturn has prompted congressional action to shore up the financial sector and get credit flowing. What's been missing is a concerted effort to respond to a quiet crisis in America - the plight of the nonprofit sector that cares for those hurting most from the economic recession.

Full-text article by John M. Bridgeland and Bruce Reed is available via The Detroit Free Press, 3.23.09.

As Detroit Struggles, Foundations Shift Mission

The long economic decline of Detroit has prompted foundations in the region to change how they operate. Faced with sharply declining resources and exploding need, they are being forced to pick winners and losers, engaging in what Larry M. Gant, a professor of social work at the University of Michigan, calls “triage.”

Full-text article by Stephanie Strom is available via The New York Times, 3.21.09.

Nonprofit Squeeze: Donations Down, Volunteers Up

One in two nonprofits says its funding has fallen, according to "The Quiet Crisis," a new report by Civic Enterprises, a social-issues think tank. When the economy was this rotten in the early 1970s, charitable giving fell more than 9%, adjusted for inflation. Experts believe something like that will occur in this recession too.

Full-text article by Dan Kadlec is available via Time, 3.19.09.

52% of Donors Plan No Decrease in Giving in 2009

Their investment portfolios may be slumping and their jobs less secure, but a majority of Americans who give to charity still plan to donate as much this year as they have in the past, according to a new survey.

Conducted in January by Cygnus Applied Research, the survey polled 17,365 people who had given in the past to charity. The respondents donated an average of $11,490 last year.

Full-text article by Caroline Preston is available via The Chronicle of Philanthropy, 3.13.09.

Care Bears

BEAR Stearns is now widely seen as a place where self-interested wheeler dealers chose to hang their hats. But on the first anniversary of Bear’s unseemly demise, I look back with sadness at what was once a truly giving firm.

Full-text opinion piece by Thomas Flexner is available via The New York Times, 3.14.09.

LIVE: WEDNESDAY, MARCH 11: Obama's Charitable-Giving Plan: What It Means for Nonprofit Groups

As President Obama seeks to reduce the value of the charitable deduction for wealthy Americans, fund raisers and other nonprofit experts are divided over whether his idea would cause any substantial change in charitable giving.

What would this proposal really mean for the nonprofit world? How will donors react? How does it mesh with the president's other tax proposals? What should your organization be communicating to its supporters about this plan?

Join The Chronicle for a special live discussion with Bruce Flessner and other experts who can answer these and other questions about this controversial proposal.

Wednesday, March 11, at 11 a.m., U.S. Central Time

For more information visit The Chronicle of Philanthropy's website.

13 Reasons Colleges Are in This Mess

Higher education has been a victim of the recession -- but not a defenseless victim. How did so many colleges end up in such a fix? The Chronicle came up with a baker's dozen reasons, describing how greed, incompetence, and neglect led to bad decisions and financial trouble.

Full-text article is available via The Chronicle of Higher Education, 3.13.09. [Subscription required.]

America's Biggest Foundations Won't Increase Their Giving in 2009, Says a New Report

In the wake of the tumbling stock market and heavy asset losses suffered by virtually all the nation's wealthiest foundations, only two have said they plan to increase their giving this year, according to a new advisory report by the Foundation Center, in New York.

Full-text article by Marty Michaels is available via The Chronicle of Philanthropy, 3.9.09. [Subscription required.]

Colleges Sweat Out Admissions This Year

Facing a new financial landscape, colleges are struggling to figure out how many students to accept, and how many students will accept them.

Full-text article by Kate Zernike is available via The New York Times, 3.8.09.

Arts Get Whacked by Rich as Companies Face Losses in Endowments

Corporations and wealthy individuals are donating less to nonprofits, with arts groups taking the biggest hit, according to two new studies.

Of 158 companies polled by the economic-research group the Conference Board in February, 45 percent said they have reduced their 2009 philanthropy budget and 16 percent are considering it. The survey said 35 percent of the companies will make fewer grants in 2009 and 22 percent are thinking about it.

Full-text article by Patrick Cole is available via Bloomberg, 3.4.09.

America's Top 10 Donors of 2008

Gifts from seven of the 10 biggest donors in 2008 were made from estates, according to an annual ranking of America’s most-generous donors, released recently by The Chronicle of Philanthropy and the online magazine Slate. It's a sign that even the richest Americans may be putting off large donations due to economic uncertainty.

Full-text article is available via MSNBC.com, 3.3.09.

Foundations Are Feeling the Pinch

Foundations across the country, including more than a half-dozen of the largest grant makers in Massachusetts, say they are giving less this year after suffering a steep drop in investments last year.

Full-text article by Todd Wallack is available via The Boston Globe, 3.3.09.

Well-Regarded Public Colleges Get a Surge of Bargain Hunters

At SUNY New Paltz, as at many other well-regarded public institutions this spring, admissions calculations carefully measured over many years are being set aside as an unraveling economy is making less expensive state colleges more appealing.

The application deadline is not until April 1, but officials here conservatively predict 15,500 students competing for 1,100 spots, a 12 percent jump over last year.

Full-text article by Lisa W. Foderaro is available via The New York Times, 3.1.09.

When Will the Recession Be Over?

The fall in the U.S. gross domestic product suggests that the recession may be deeper than anticipated. Experts weigh in on how long the weakness in the economy will last.

Full-text article availalble via The New York Times, 2.28.09.

Economy Shrinks At Staggering Rate

The prospects for an economic recovery by year's end dimmed yesterday, as government data showed that the economy contracted at the end of 2008 by the fastest pace in a quarter-century.

Full-text article by Annys Shin and Neil Irwin is available via The Washington Post, 2.28.09.

Giving In Bear Times

Forbes gathered three experts in philanthropy to discuss strategies for giving when the markets are down.

Full-text article by Michael Maiello is available via Forbes, 2.16.09

Nature Conservancy Lays Off 10% of Its Staff

The Nature Conservancy, one of the nation's largest charities, is reducing its staff by 10 per cent, due to the worsening economy, coupled with a drop in donations and other income.

Full-text article by Holly Hall is available via The Chronicle of Philanthropy, 2.11.09.

Met Unveils Scaled-Back Season

Amid news of spending cuts and shrinking endowments and donations, the Metropolitan Opera announced a 2009-10 season in which it will mount eight new productions but also scrap or replace four planned operas deemed too costly.

Full-text article by Daniel J. Wakin is available via The New York Times, 2.10.09.

Early Feb Reuters/Michigan Consumer Sentiment Falls to 56.2

Consumer sentiment as measured by the Reuters/University of Michigan index, fell to 56.2 in early February from January's late 61.2 reading.

Full-text article by Pete Kasperowicz is available via Thomson Financial and Forbes, 2.13.09.

In North Texas, Art Imitates Life In Recession

The recession is having a harsh impact on Dallas' arts and entertainment identity, including performing arts venues, museums, restaurants and design businesses – some of which are coming up with innovative ways to weather the storm.

Full-text article by Michael Granberry is available via the Dallas Morning News, 2.8.09.

Taking a Big Hit

Grant makers have lost about a third of their assets in the stock-market slide, but many nevertheless plan to maintain or increase their level of giving this year, according to a new Chronicle survey.

Full-text article by Noelle Barton and Ian Wilhelm is available via the Chronicle of Philanthropy, 2.12.09. [Subscription required.]

Wellesley College Stung by Investment Losses

Prestigious Wellesley College, which draws heavily from its endowment to fund operations, is facing a projected $20 million budget shortfall and will aggressively cut costs as its endowment is hammered by the continued decline in the financial markets.

Other colleges with large endowments are also expecting shortfalls and cuts in the coming years. The Massachusetts Institute of Technology recently said it is planning $100 million to $150 million in cuts over the next three years. Boston University said recently it needs to close a $10 million projected gap in its 2010 budget. And Smith College said recently it will look to cut as much as $30 million from its budget.

Full-text article by Jesse Noyes is available via the Boston Business Journal, 1.19.09.

Hospitals and Health Systems to Cut Back on Both Capital Spending and Unprofitable Services in 2009

A new report released in January 2009 from the Noblis Center for Health Innovation, a leading non-profit advisory firm to health providers, has found that hospitals and health systems across the United States are cutting back on both capital spending and unprofitable healthcare services as a result of the economic crisis. Conducted in late 2008, the Noblis Economic Impact Study assesses the impact of the national economic crisis on the financial health of hospitals and health systems including: utilization; profitability; uncompensated care; philanthropy and fundraising goals; and the status of current and future projects.

Full-text press release is available via PRNewswire, 1.19.09.

Baltimore Symphony Orchestra Cuts Jobs to Sidestep Deficit

The Baltimore Symphony Orchestra has laid off five employees, or about 8 percent of its staff, and eliminated several positions to save $500,000 and help balance its budget.

Full-text article by Julekha Dash is available via the Baltimore Business Journal, 1.14.09.

Charities and the Economy: Read The Chronicle's Special Report

The new issue of The Chronicle of Philanthropy was posted online today. In a special report, The Chronicle examines how nonprofit groups are coping with the economy by following four organizations through their end-of-year giving season and looking at efforts to encourage governments to aid struggling charities. In addition, we examine how the credit crunch is affecting nonprofit groups and how arts organizations are facing the challenges.

You can find everything that is new in the issue at http://philanthropy.com/summary/. [Subscription may be required to access some of the articles.]

Fund Raising in a Recession

Commentary by Jeff Schoenherr, director of the regional and international major-gifts program at the Johns Hopkins Institutions, which just completed its "Knowledge for the World Campaign" and raised more than $3.5-billion.

Full-text article by Jeff Schoenherr is available via the Chronicle of Higher Education, 1.9.09.

Minnesota Grantmakers Anticipate Drop in Giving in 2009

After several years of increased giving, Minnesota foundations and corporate giving programs expect a decline in grantmaking to nonprofit organizations in 2009 versus 2008. 40 percent of grantmakers anticipate a decrease in giving, 41 percent expect their giving to remain the same, and 15 percent hope to increase their grantmaking in 2009.

The full report is available via the Minnesota Council on Foundations, 1.2009.

The States Pull Back

Annual state appropriations for higher education inched up by less than 1 percent for the 2009 fiscal year, according to a report by the Center for the Study of Education Policy at Illinois State University.

Full-text article by Scott Jaschik is available via InsideHigherEd., 1.9.09.

Executive Pay

After years of watching the top echelons of corporate management take home billions, shareholders want to know: Will inflated pay packages get slashed?

Full-text article by David S. Hilzenrath is available via the Washington Post, 12.21.08.

Junior College Squeeze

Community colleges across the country are seeing enrollment climb just as local governments scale back funding. Community-college administrators are thrilled to attract top performers, but they also worry that the influx of students who can afford other options is squeezing out the disadvantaged students such schools were built to serve.

Full-text article by Caitlin McDevitt is available via Newsweek, 12.15.08.

Colleges Learn to Navigate the College Crunch

This fall nearly all U.S. colleges and universities are grappling with how to survive the ongoing credit crunch. Beloit College isn't the only school searching high and low for ways to trim expenses while preserving academic quality. Stanford, for instance, is reducing top administrators' salaries to help cut as much as 12% from its budget, while Cornell and Brown have stopped hiring. At South Carolina's Clemson University, all faculty and staff must take an unpaid five-day leave.

Full-text article by Kathleen Kingsbury and Laura Fitzpatrick is available via Time.com, 12.11.08.

Close of a Tumultuous Year

The Financial Times reviews this shocking year in finance and forecasts the challenges and difficult questions that remain for 2009 and beyond.

Visit the Financial Times website for more information, 12.11.08.

Food Pantries Adopt New Approaches as Demand Grows

As demand for their services continues to rise, food pantries are taking new approaches to provide more people with food and other resources, reports The New York Times.

Full-text article available via The Chronicle of Philanthropy, 12.10.08.

Gas Demand and Cost Decline

Pump prices headed toward five-year lows nationally and in California, the Energy Department said Monday. And despite a bump in crude prices, some analysts say the slide might not end until oil hits $25 a barrel and gasoline drops to $1 a gallon or below.

Full-text article by Ronald D. White is available via the Los Angeles Times, 12.9.08.

Economic Downturn Is a Boon for For-Profit Colleges

The for-profit college industry, unlike the rest of higher education, is enjoying a financial tailwind that is only likely to improve in the next couple of years.

Full-text article by Goldie Blumenstyk is available via the Chronicle of Higher Education, 12.10.08.

Paul Volcker Is Back, and He Warns of Tough Times Ahead

A generation ago, Paul A. Volcker was a household name, the Federal Reserve chief who waged a hard-nosed but successful battle against virulent inflation that clouded the nation's economic future. He did it by engineering a horrific recession, clamping on the financial brakes and sending the economy into a tailspin in 1981.

Volcker has been chosen by President-elect Barack Obama as a special economic advisor. His 'no pain, no gain' fiscal strategy worked in the '80s, and there's no sign he's softened that philosophy.

Full-text article by Ralph Vartabedian is available via the Los Angeles Times, 12.8.08.

In String of Bad News, Omens of a Long Recession

Despite months of rescue efforts, hundreds of billions of dollars in government spending and an avant-garde apparatus of financial tools, the American economy has only worsened, and at a faster rate than nearly anyone predicted.

Full-text article by Michael M. Grynbaum is available via the New York Times, 12.7.08.

Economy Has Harmed Finances of Many Charities

Many charities have already seen decreases in private donations and government grants because of the recession, a new survey finds.

Full-text article by Debra E. Blum is available via the Chronicle of Philanthropy, 12.8.08. [Subscription required.]

Higher-Ed Leaders Discuss Ways to Survive Downturn

Colleges should consider long-term changes to weather the recession and thrive afterward, higher-education leaders and economists said at a conference in Boston.

Full-text article by Kathryn Masterson is available via the Chronicle of Higher Education, 12.8.08. [Subscription required.]

Companies Increased Giving Last Year, Survey Finds

Despite a mixed economic climate, corporations increased their giving last year, according to a new report from the Committee Encouraging Corporate Philanthropy.

Full-text article by Debra E. Blum available via The Chronicle of Philanthropy, 12.4.08.

Harvard Hit by Loss as Crisis Spreads to Colleges

Harvard University's endowment suffered investment losses of at least 22% in the first four months of the school's fiscal year, the latest evidence of the financial woes facing higher education.

Full-text article by John Hechinger and Craig Karmin is available via the Wall Street Journal, 12.4.08.

Bargain Hunting on Bleak Friday

There were no Christmas miracles for retailers yesterday as the holiday shopping season officially got underway.

Full-text article by Ylan Q. Mui is available via the Washington Post, 11.29.08.

Private-College Presidents Discuss the Economy

The leaders of four institutions describe in a video interview how they are coping with the challenges posed by the nation's economic troubles.

The video is available via the Chronicle of Higher Education, 11.25.08. [Subscription required.]

Big Players Scale Back Charitable Donations

As the recession deepens, the future of charities that depend on corporate donations are uncertain. Donors signaling tighter times include casino mogul Sheldon Adelson, and former AIG CEO Hank Greenberg.

Full-text article by Mike Spector and Shelly Banjo is available via the Wall Street Journal, 11.25.08.

Facebook's Land Grab in the Face of a Downturn

The social-networking site is moving aggressively to sign up more users around the world while much of Silicon Valley hunkers down.

Full-text article by Spencer E. Ante is available via BusinessWeek, 11.20.08.

Colleges On Alert to Slow Spending

For Indiana University, hitting the financial turmoil of the past two months has been like a tanker truck hitting a patch of ice.

“If you slam on the brakes, you’re going to jackknife. But you can’t keep going at the same speed you were, obviously. So we’re really trying to feather the brakes,” said IU’s chief financial officer, Neil Theobald, during a break from a Nov. 19 meeting of IU’s trustees.

Full-text article by J.K. Wall is available via Indianapolis Business Journal, 11.22.08.

Milwaukee Cultural Institutions Feel Economic Impact

Cultural institutions in Milwaukee are feeling the affects of the economy. The economic climate and the nature of nonprofits and philanthropic giving are part of the driving force behind staff and budget reductions.

Full-text article by Georgia Pabst is available via the Milwaukee Journal Sentinel, 11.21.08.

2008 State New Economy Index Released

Five states — Massachusetts, Washington, Maryland, Delaware and New Jersey—are leading the United States’ transformation into a global, entrepreneurial and knowledge- and innovation-based New Economy, according to The 2008 State New Economy Index, released today by the Ewing Marion Kauffman Foundation and the Information Technology and Innovation Foundation (ITIF). The report is being released during Global Entrepreneurship Week, an initiative to inspire young people around the world to embrace imagination, innovation and creativity.

Full-text press release and report is available via the Ewing Marion Kauffman Foundation, 11.20.08.