Non-profits Funds Withheld!
March 2, 2009
According to recent articles non-profits are finding their funds with held! Many states have requirements that endowments retain a certain bank balance. As donations dwindle and the stock market falls, the money held in trust for these non-profits has shrunk.
Considered by many as an emergency fund, they are finding that they are not allowed to use it in the current emergency.
Are you effected by this? Check with your accountant or the non-profit arm of your state.
Many non-profits are reacting by increasing their fund raising efforts. Having a professional grant writer can make all the difference in your success as the competition grows for those funds.
Funding Success is offering 50% March Madness sale on their grant search services. A $150 value!
Article referenced http://news.yahoo.com/s/ap/20090301/ap_on_re_us/untouchable_endowments
