Summary
As Americans watched their retirement savings dwindle last year, the volatile stock market also caused significant investment losses for charitable foundations.
Facing declines in asset values ranging from $131 million at El Pomar Foundation to $333 million at the Daniels Fund to $7 million at Pikes Peak Community Fund, nonprofit foundations are grappling with plans to minimize damage not only to their operations but also to the organizations they support.See the full content of this document
Extract
Nonprofits Also Feeling the Pinch
Typically, foundations are started by monetary gifts from individuals or companies, which are invested in stocks, bonds and real estate. Foundations then use the income generated from the principal investment to make grants for charitable purposes.
With this year's continued market uncertainty, many have been forced to restruct...See the full content of this document
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