The economy is deep in the doldrums. Non-profit leaders are biting their nails as they worry about whether or not they will be able to make their budgets or have to cut staff and programs. And they're wondering where their financial support will come from next year.

With an average 30 percent decline in their investment portfolios, foundations will most likely be scaling back their grant making next year. Corporate donations will likely drizzle down to nothing. And what about individual donations this holiday season - will the economy have an impact on that? Has the bubble of philanthropy burst or will donors continue to support organizations in this time of need?

The Center on Philanthropy at Indiana University is saying that philanthropy has historically been recession proof. Contributions to American charities have increased during 39 of the past 40 years calculated in today's dollars. According to Harris Interactive, which regularly polls Americans about their charitable giving, "at a time when people have things and they know that others don't, American generosity wins out." I certainly hope this holds true during this holiday season and beyond. However, let's look at some strategies that non-profits could use to help survive during these very difficult economic times.

Continue reading...

Read the Rich Tips Archives.