State's Largest Nonprofits Start to See Recession's Effects

by Jan Cottingham  on Monday, Jun. 29, 2009 12:00 am  

However, the latest figures gleaned from the organizations' IRS reports can be more than 18 months old. That's the case with the Harvey & Bernice Jones Center for Families, whose 2006 fiscal year ended Nov. 30, 2007. And that makes trends a little hard to discern.

The most recent numbers for the Walton Family Foundation, for example, come from its 2007 IRS Form 990, which contains the figures for that calendar year. It saw a $200 million increase in assets compared with 2006. The assets of 19 of the nonprofits rose, 10 fell and one, the El Dorado Promise Inc., is a newbie, filing its first 990 in 2007.

Nevertheless, charities statewide have reported anecdotal evidence of declining donations - and increasing demand. In addition, the plunging stock market has battered the portfolios of many foundations. All this means that next year's list will likely look gloomier.

Nationwide, charitable donations in the United States fell 2 percent in 2008, according to the Giving USA Foundation. The decline was the first since 1987 and only the second since the foundation began conducting its survey in 1956.

Despite that, charitable giving last year was about $307.65 billion. Donations in 2007 reached a record $314.07 billion, the foundation reported.

 

 

Please read our comments policy before commenting.