Nonprofit Groups Laid Off Employees, Shifted Investments in 2009

March 1, 2010, Chronicle of Philanthropy — The vast majority of nonprofit organizations that responded to a recent accounting survey said they coped with the bad economy in 2009 with all-around cost cutting.

“In the face of declining revenues from donors, granting agencies, federal and state governments, and underwater endowments,” 87 percent of organizations reduced expenses, according to Grant Thornton, the accounting and business advisory group that conducted the survey.