Charities Suffer as Much as Businesses in This Economy

During economical hardship, businesses aren’t the only entities that suffer. It is during this time that the funding for charities drastically decreases, while the need greatly increases. Charities may no longer be able to reach as many individuals as they had previously. In addition, some charities may completely cease to exist due to the economical downturn.

Charities receive funding from a variety of sources. Fundraisers, personal donations, and business donations provide a great deal of funds for these operations. When businesses cut back, charitable donations may be one of the first things to go. When employees are laid off, individuals and families may not be able to give. As a matter of fact, some of these individuals may become recipients of charitable services. When this happens, it is clear that the demands for charity exceed the funding. Ultimately, many needs will not be met.

A declining economy does not only affect the soliciting of funds in the form of cash donations, but affect every sector of charity. Food banks, soup kitchens, and shelters will equally suffer. Non cash donations have steadily declined even more so. Instead of donating items, several individuals will keep what they have in an effort to utilize all resources.

Local charities may feel the blow even harder. They typically receive the least donations of all charities, despite economical conditions. Several local charities have already closed their doors and there may be many more to continue. The bottom line, charities suffer as much as businesses in this economy.