“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?


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