ArtDesignCulture

“Nonprofits Are Paying the Price for Gambles on Finances”

In Uncategorized on October 20, 2009 at 1:24 am

Though I’m aware that everyone has been affected by the economic downturn, I feel that nonprofits have an even greater responsibility to maintain conservative fiscal policy and stewardship of the trusts they maintain.

But apparently, even the “little guys” tried their luck at new securities thinking that dividends would take care of the rest.

This was not the case and resulted in one institution with bond payments of $800,000 yearly or 12% of the annual budget.

We are all tired of hearing about the backlash of the economy, and this is just even more disappointing, considering it’s the sector that’s supposed to be focused on service to the community. Isn’t there anyone left in finance who can smell a rat?

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: