February 6, 2011 | Read Time: 1 minute
While many donors have focused on immediate needs, rather than supporting endowments, building projects, and other capital projects during the economic downturn, some are now ready to focus on long-term concerns, says Dyan Sublett, chief fund raiser at the YMCA of Metropolitan Los Angeles.
As hard times have dragged on, people’s mind-set has shifted, she says. “The psychology of the recession has caused my board to have more conversations about sustainability and endowment.”
One board member and his wife recently pledged $2-million to the Y’s endowment, Ms. Sublett says. “He said it was important to make sure the organization is here for every generation.”
Other board members, particularly those who have volunteered for many years, she says, have begun looking at the Y’s long-term future over the last few months.
“Donors have seen a possible vulnerability,” she adds. “General endowment has become more sexy because of the need for endurance in hard times.”
Early in 2009, the Jewish United Fund/Jewish Federation of Metropolitan Chicago declared a moratorium on raising money for all capital projects because other needs were so great, but now the charity is raising money for one building and will consider seeking gifts for others. “We are just beginning to loosen up a bit,” said Steven B. Nasatir, the fund’s president.
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