Nonprofit Groups Seek New Tactics in Anticipation of Recession

Although most nonprofit organizations appear to be weathering the latest economic downturn, uncertainty remains, reports The Boston Globe.

Smaller social-service agencies are already feeling the pinch, and even large educational and cultural institutions that typically have a hefty endowment cushion are worried about how changing financial conditions might affect their higher-end donors. In response, some groups are now seeking new ways to structure gifts.

“We need to be more creative about how we address donors, and talk with them about how they can work with financial planners or tax experts to accomplish their philanthropic goals,” Heather L. Feltman, the head of Lutheran Social Services of New England said.

While nonprofit groups can work with donors to reshape gifts or extend payment deadlines, other methods can include focusing on estate-planning tools. Nadia Yassa, director of estate and gift planning at the Boston Foundation, said that these tactics provided a “silver lining” to an uncertain economic environment, including the chance to sell depreciated assets in ways that benefit both a charity and the donor.

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