STANFORD, Calif., August 25, 2009 — Charities and nonprofits are suffering as much as commercial businesses from the economic downturn. Donations at two-thirds of public charities declined between 2007 and 2008, according to the Giving USA Foundation. This represents the first decrease in donations in current dollars since 1987, and only the second in year-by-year giving slump since the organization began publishing its annual reports 52 years ago.
Stanford Business School
August 25, 2009