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From time to time there are news items or resources from the philanthropic sector that we like to share broadly. In addition to sending electronic announcements to our constituents that include information about these items, we will also post items of general interest here.

16 December 2008

The global economic downturn and charitable giving

First published 4 November 2008; updated mid-December 2008.

The current global economic crisis will have far-reaching effects, and charitable giving and local charitable activity will be among those affected. Here is a brief round-up of some of the reported fallout and future predictions:

US foundation giving and past research

The Foundation Center in the US has compiled research on charitable giving trends and past economic downturns affecting the US economy. Read the research summary [PDF].

North American foundations holding firm

Alliance Magazine published a couple of articles in its November eBulletin with a particular focus on how North American foundations are faring in the current economic crisis and the support they are offering to others. Alliance Magazine website.

Council on Foundations plans MetroNation

COF recently held a special two-day meeting for US foundations. MetroNation, as this event has been called, offered "an exploration of how U.S. metropolitan areas fuel American prosperity-and the crucial role philanthropy must play in ensuring those metro areas receive the support they need to survive and thrive".

Note: Since first preparing this summary in early November 2008, the Council on Foundations in the US has announced a new online platform dedicated to this topic, known as Economic Xchange. Members of the philanthropic sector are invited to "exchange information, dialogue, ideas, and tactics around the economic crisis and its impact on Philanthropy".

European guidance published by the EFC

The European Foundation Centre (EFC) has published a Special Update on the crisis, including a compilation of articles of relevance for EFC members as well as a survey for members on the impact the financial crisis will have on foundation assets and spending. Read the Special Update.

British charities seek government aid

Charity leaders in the UK have called on the government to establish a sizeable emergency fund to support local charities; this comes in light of the Icelandic bank collapse which some charity leaders estimate will cost the country's charities 120 million pounds. Read the story.

The future of Australian philanthropy

Philanthropy Australia's national conference, held in mid-October 2008, featured a presentation on the new uncertainties and opportunities facing Australia and Australian philanthropy. The speech was reproduced on the organization's blog, Philanthropy Oz. Read the presentation.

Canadian community foundations plan for harder times

In advance of its National Conference (held 8-10 November in Montreal), Community Foundations of Canada published a media release on the economic downturn. To respond to an increase in local needs, Canadian community foundations are planning to:

• Use reserve funds built up during more prosperous periods to allow the foundation to continue providing grants to community organizations
• Make grantmaking more flexible in recognition of the operating challenges that many Canadian non-profits will be facing
• Work with governments to identify local challenges and opportunities to work together to support key agencies and/or programs

The view for developing countries

In eCivicus, Vita de Waal of the Planetary Association for Clean Energy reflects on the responsibility of industrialized nations to make good on financial support to developing nations following the global financial crisis. Details.

How is the financial crisis being addressed where you are?

WINGS members are welcome to share their perspective and activities on this topic through website@wingsweb.org.

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