Nonprofits and the Economic Meltdown
Tuesday, September 23rd, 2008Like a scene right out of Kill Bill, Vol. I, the nonprofit sector had one of its legs cut off last week- but the cut happened so fast, and it was so clean that they haven’t even felt it yet. But make no mistake—a huge source of revenue just vanished. What’s worse—the ripple effect will force other sources of revenue to dry up. Local governments just lost a TON of cash flow. Mayor Bloomberg said, this weekend on Meet the Press, that he expects NYC to see a 12% drop in revenue in 09—in a state that posted a $5 billion deficit in 08.
This is huge. Legislation designed to poach nonprofit assets (i.e. property taxes) is coming. A new wave of folks needing basics like food and shelter is coming, particularly if pensions and social security dry up.
ALL of this is on the line—right now. Where are you? What are you doing to respond to all this?
Join the V3 Campaign and get into this dialogue. There is no safe corner, folks…this is it. Right here, right now…join.
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