Charities that provide aid overseas could lose as much as $1-billion in donations per year as a result of the economic collapse, a drop of 5 to 15 percent annually, according to the head of a coalition that represents international organizations.
Samuel A. Worthington, president of InterAction, said, “And those billions of dollars would translate into significant hardship,” he said.
Mr. Worthington said the length of the economic crisis would have a significant impact on just how dire the financial situations of international groups become.
If the crisis persists beyond the next 16 months, said Charlie MacCormack, president of Save the Children, in Westport, Conn., that could spell disaster for many international charities.
“[However] people are much more aware of how interconnected we are and how our well-being depends on that of others,” said Mr. MacCormack. “The long-term trends are positive for our cause.”
[The Chronicle of Philanthropy]
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