SEATTLE – Charitable foundations and nonprofit organizations are seeing signs of an economic recovery. They saw double-digit returns on their investments last year, but an organization that studies charities says other financial news remains bleak.
Demand for services is still rising, government contracts are decreasing, donations were down at many nonprofits during the past two years, and some organizations took out loans to meet their commitments in 2009.
A pair of reports being released Thursday by an organization that gives financial advice to nonprofits says private and community foundations as well as charities saw their investments improve an average of 21 percent for the year ending Dec. 31, 2009. Investments declined 26 percent in fiscal 2008.
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Online:
Commonfund: http://www.commonfund.org/Pages/default.aspx
