I came across two Globe and Mail stories this morning:
- What I did on my layoff - take layoff as an opportunity and follow your heart; it may lead to a whole new career.
- The bad economy is no match for a good cause - Charities say donations, especially relatively small ones, are still pouring in despite the recession.
It makes sense to me that in the recession times and in times of hardship humanity finds a way to shine through. It is good to see some confirmation of that in the mainstream media. When we invest our time and resources into something worthwhile, everybody wins.
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The reality is that charities are as much as part of the economy as any other organization and are impacted by the downturn in different ways. Many depend upon a mix of government, corporate and private fundraising. Depending upon this mix, they are more vulnerable at different stages of a recession. For example, those that depend upon foundation dollars are being hit hard right now as foundations pull back due to losses in the markets. Those that depend upon things like ticket sales or individual donations are impacted by fewer people having disposable income. If tax revenues begin to collapse in some cities in the next two years – it’s possible that governments make may choices that impact funding for charities that rely on government contracts for services.
It’s a really mixed bag for charities in Canada. Challenging times are ahead and smart organizations are planning and saving for a rainy day.